The Indian government, through the Ministry of Petroleum and Natural gas (MoPNG), routinely carries out the allocation of blocks (areas) for the exploration of oil and natural gas in the country. This is usually carried out by the bidding system and various national and international companies Exploration & production (E&P) companies participate in it. The ..
OALP: GK, Current Affairs, Questions, Trivia and News
On March 10, 2016 the Hydrocarbon Exploration and Licensing Policy (HELP) was approved by the Union Cabinet. HELP aims to provide for a uniform licensing system and to provide single licensing to cover all hydrocarbons such as oil, gas, coal bed methane etc. Objectives of HELP To enhance the production of domestic oil and gas ..
The dismantling of the APM was followed by National Exploration License Policy 1997, which became effective in February, 1999. Since then licenses for exploration are being awarded only through a competitive bidding system and National Oil Companies (NOCs) are required to compete on an equal footing with Indian and foreign companies to secure Petroleum Exploration ..