Daily Current Affairs Quiz 2019<\/a><\/strong><\/p>\n\n\n\nIn continuation to its determination for reduction in import\ndependency of oil and gas and accelerating E&P activities, the Government\nnotified further policy reforms in upstream sector on 28th February, 2019 to\nincrease exploration activities, attract domestic and foreign investment in\nunexplored\/unallocated areas of sedimentary basins and promote ease of doing\nbusiness by streamlining and expediting the approval processes.<\/p>\n\n\n\n
The Government has now launched the Bid Round-IV for\nInternational Competitive Bidding from 27th August, 2019which will be carried\nout under the revised policy framework. In this bid round, 7 blocks, with an\narea of approximately 18,500 sq. km., are being offered for bidding to the\ninvestor community. All seven (7) blocks are based on Expressions of Interest\nsubmitted by the bidders.<\/p>\n\n\n\n
Salient features of Policy Reforms cover Category Specific Bid evaluation criteria with more weightage to exploratory work programme, Category-II and III type blocks will be bided based on exploratory work programme only, shorter exploration period, concessional royalty rates to expedite oil and gas production and introduction of alternate dispute resolution mechanism.<\/p>\n\n\n\n
The exploration acreage of India has been enhanced from\n90,000 square kms in 2017 to 2,10,000 sq. km after successful completion of\nthree Open Acreage Licensing Programme rounds under HELP and is expected to\nrise with upcoming bidding rounds. To further increase exploration acreage of\nIndia, Government has increased EoI cycles from two (2) to three (3) in a year\nwith the revised dates of April 1 to July 31, August 1 to November 30 and\nDecember 1 to March 31.<\/p>\n\n\n\n
With the release of Notice Inviting Offer (NIO), bidders can\nstudy the data available in National Data Repository (NDR) and select blocks\nfor the bidding. The bidders would be able to submit their bids through an\nonline e-bidding portal starting 27th August 2019 and the bidding round would\ncontinue till 1200 hrs. 31st October2019.The blocks are spread across 3\nsedimentary basins;7 On land blocks are on offer under OALP-IV which includes 6\nblocks in Category-II and III Basins and 1 block in Category-I Basin. It is\nexpected that OALP Round IV would generate immediate exploration work\ncommitment of around USD 200-250 million.\n\nThe 5thcycle of submitting Expressions of\nInterest (EoIs) is currently going on till November30, 2019 and would be\nfollowed by the 6th cycle from December 1, 2019 till March 31, 2020.\n\n\n\n<\/p>\n","protected":false},"excerpt":{"rendered":"
The Government has implemented plethora of reforms in the past five years in the E&P sector. The Hydrocarbon Exploration and Licensing Policy (HELP) replacing the erstwhile New Exploration Licensing Policy (NELP) was approved in March 2016 and the Open Acreage Licensing Programme (OALP) along with the National Data Repository (NDR) were launched in June 2017 […]<\/p>\n","protected":false},"author":13,"featured_media":5422,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[45],"tags":[619],"class_list":["post-5421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs-articles","tag-open-acreage-licensing-programme"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/5421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=5421"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/5421\/revisions"}],"predecessor-version":[{"id":5423,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/5421\/revisions\/5423"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/5422"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=5421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=5421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=5421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}