\u2713Recently, the Government launched the Open Acreage Licensing Programme(OALP)Bid Round-VII for International Competitive Bidding in continuation of its aggressive programme for exploration and adhering to the prescribed timelines.<\/p>\n\n\n\n
\u2713Successful award of Round-VII Blocks would add a further 15,766 sq. km of exploration acreage and cumulative acreage under OALP and it will be increased to 207,692 sq. km.<\/p>\n\n\n\n
\u2713It is the most crucial part of the Hydrocarbon Exploration and Licensing Policy (HELP).<\/p>\n\n\n\n
\u2713It provides a single, uniform Licence for exploration and production of conventional as well as unconventional hydrocarbon resources.<\/p>\n\n\n\n
\u2713The Freedom to carve out acreages of choice under OALP bid rounds has been given to contractors.<\/p>\n\n\n\n
\u2713The revenue-sharing model is used for offering fields.<\/p>\n\n\n\n
\u2713Producers have complete marketing and pricing freedom for crude oil and natural gas produced.<\/p>\n\n\n\n
\u2713It has reduced multiple licences and procedures for extracting different hydrocarbons even from the same well.<\/p>\n\n\n\n
\u2713Brought in a quantum jump in the Exploration & Production sector.<\/p>\n\n\n\n
\u2713The successful roll-out of the HELP regime, followed by OALP Bid Rounds, has led to an increase in exploration acreages in India.<\/p>\n\n\n\n
\u2713Lesser involvement of Private Players.<\/p>\n\n\n\n
\u2713Public Sector Companies like Oil and Natural Gas Corp (ONGC) and Oil India (OIL) are the major winners of the bidding rounds.<\/p>\n\n\n\n
\u2713Lack of clarity in Government Policy and Regulations.<\/p>\n\n\n\n
\u25cf Higher Tax and Cess:<\/p>\n\n\n\n
\u2713Proposal by the Petroleum Ministry to reduce the oil cess charge on domestic production of crude has been rejected by the Finance Ministry.<\/p>\n\n\n\n
\u2713Less Participation of Foreign Companies: <\/p>\n\n\n\n
\u2713Indian attempts to attract Foreign Energy Giants are not yielding expected results.<\/p>\n","protected":false},"excerpt":{"rendered":"
\u25a0 Ministry of Petroleum and Natural Gas launches Open Acreage Licensing Programme- \u2713Recently, the Government launched the Open Acreage Licensing Programme(OALP)Bid Round-VII for International Competitive Bidding in continuation of its aggressive programme for exploration and adhering to the prescribed timelines. \u2713Successful award of Round-VII Blocks would add a further 15,766 sq. km of exploration acreage […]<\/p>\n","protected":false},"author":894,"featured_media":63988,"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":[1755],"tags":[1797],"class_list":["post-63987","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-upsc-important-topics","tag-upsc-daily-important-topic"],"_links":{"self":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/63987","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\/894"}],"replies":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/comments?post=63987"}],"version-history":[{"count":1,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/63987\/revisions"}],"predecessor-version":[{"id":63989,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/posts\/63987\/revisions\/63989"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media\/63988"}],"wp:attachment":[{"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/media?parent=63987"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/categories?post=63987"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.gkseries.com\/blog\/wp-json\/wp\/v2\/tags?post=63987"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}