Question

Q53. Recently, the phrase Open Acreage Licensing Policy (OALP) was in news. It is related to:

• A. (a) NELP
• B. (b) HELP
• C. (c) Mines and Minerals acts 1957
• D. (d) All of the above

Answer 1

The correct option is A

(a) NELP

Open Acreage Licensing Policy (OALP) gives an option to a company looking for exploring hydrocarbons to select the exploration blocks on its own, without waiting for the formal bid round from the Government.

Under Open Acreage Licensing Policy (OALP), a bidder intending to explore hydrocarbons like oil and gas, coal bed methane, gas hydrate etc., may apply to the Government seeking exploration of any new block (not already covered by exploration).

OALP was introduced vide a Cabinet decision of the Government, as part of the new fiscal regime in exploration sector called HELP or Hydrocarbon Exploration and Licensing Policy.