Hydrocarbon Exploration and Licensing Policy (HELP)
The Union Cabinet has approved the Hydrocarbon Exploration and Licensing Policy (HELP). Four main facets of this policy are:
- uniform license for exploration and production of all forms of hydrocarbon,
- an open acreage policy
- Easy to administer revenue sharing model and
- Marketing and pricing freedom for the crude oil and natural gas produced.
The decision will enhance domestic oil & gas production, bring substantial investment in the sector and generate sizable employment. The policy is also aimed at enhancing transparency and reducing administrative discretion.
The uniform licence will enable the contractor to explore conventional as well as unconventional oil and gas resources including CBM, shale gas/oil, tight gas and gas hydrates under a single license. The concept of Open Acreage Policy will enable E&P companies choose the blocks from the designated area.
Topics: Chemistry • Energy in India • Fuel gas • Fuels • Hydrocarbon exploration • Hydrocarbon exploration and licensing policy • Natural Gas • Oil exploration • petroleum • Petroleum geology • Physical sciences • Shale gas
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