Why is it in the news?
→ Oil India conducted seismic studies on blocks awarded in OALP Round 9 to prepare a bidding strategy for Round 10.
→ Highlights ongoing implementation of OALP framework.
Category: Economy
Important Points
- Introduced on March 30, 2016 under Hydrocarbon Exploration and Licensing Policy (HELP).
- HELP replaced the New Exploration and Licensing Policy (NELP) regime of over 18 years.
- Major reform changing how companies apply for oil and gas exploration blocks.
- Allows companies to prospect in areas not notified by the Government of India.
- Companies can apply in any area where technical feasibility indicates hydrocarbons.
- Prospecting involves drilling selected areas to check hydrocarbon availability.
- After feasibility confirmation, exploration proceeds with Directorate General of Hydrocarbons (DGH) permission.
- If multiple requests arise, DGH allocates blocks through auction.
- Exploration no longer requires waiting for GoI tenders.
- Provides access to seismic data via the National Data Repository (NDR).
- NDR contains seismic surveys, geological maps, well logs, and exploration history.