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OALP deepwater bidding deadline extended again to 10 December
വാർത്തയിൽ എന്തുകൊണ്ട്?
Bid deadline pushed again to 10 December: which policy lets firms choose oil blocks? GS3 Energy answer
Deepwater bidding under OALP is extended to 10 December.
Why it matters: GS-3 core; factual, Prelims-type
What you need to know
2 മിനിറ്റ്
The bid deadline for the deepwater rounds of the Open Acreage Licensing Policy has been extended again, this time to 10 December.
The two rounds were last extended in September by about two months to 15 November.
OALP lets companies pick blocks to explore for oil and gas instead of waiting for the government to offer fixed blocks.
ഉറവിടങ്ങൾ: Topper IAS editorial (PIB / The Hindu / Indian Express)
പ്രധാന വസ്തുതകൾ
Remember these
- OALP deepwater bid deadline extended to 10 December
- Earlier extension in September moved the deadline to 15 November
- OALP lets companies select blocks to explore for oil and gas instead of waiting for government-offered blocks
- OALP is a core feature of the Hydrocarbon Exploration and Licensing Policy (HELP)
- HELP replaced the earlier NELP regime and uses revenue sharing
പ്രിലിംസ് · മെയിൻസ്
How the exam will ask it
പ്രിലിംസ്
- Statement: Under the Open Acreage Licensing Policy, bidders can nominate blocks they want to explore through an open application.
- Statement: OALP is part of the Hydrocarbon Exploration and Licensing Policy, which replaced the New Exploration Licensing Policy.
- Statement: HELP follows a revenue sharing model in place of the older production sharing contract regime.
മെയിൻസ്
GS Paper 3 (Energy/Economy): India's import dependence on oil and gas -> OALP under HELP lets firms choose blocks, with deepwater rounds needing longer bidding windows -> repeated extensions signal cautious investor appetite for costly, high-risk deepwater acreage -> way forward: stable fiscal terms, faster clearances and better seismic data to attract investment.
Quick recall
Answer before you reveal
The Open Acreage Licensing Policy (OALP) for oil and gas blocks operates under the:
- New Exploration Licensing Policy
- Production Sharing Contract regime of the 1990s
- Hydrocarbon Exploration and Licensing Policy
- Discovered Small Field policy
ഉത്തരം കാണിക്കൂ
ഉത്തരം: C — Correct: Hydrocarbon Exploration and Licensing Policy — OALP is a core feature of HELP, letting bidders choose blocks to explore through an open application. • New Exploration Licensing Policy — wrong: NELP was the earlier bidding regime that HELP replaced, and OALP is not part of it. • Production Sharing Contract regime of the 1990s — wrong: The old production sharing contract regime was replaced by revenue sharing under HELP. • Discovered Small Field policy — wrong: The Discovered Small Field policy covers already-discovered fields, not open acreage exploration.
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