India Liberalises Exploration Regime

India Liberalises Exploration Regime

Indian oil minister Dharmendra Pradhan June 28 launched the National Data Repository (NDR) and Open Acreage Licensing Policy (OALP), a database of sedimentary basins that will allow parties to bid for an area without waiting for formal bidding.

India launched a licensing round last year and companies are now able to make open bidding throughout the year.

“National Data Repository has come forth as an integrated data repository of E&P data of the Indian sedimentary basins,” said Pradhan: “We expect Open Acreage Licensing to accelerate exploration activities in the country since investors can express their interest in an area which they feel has prospective without waiting for formal bidding.” Read More…

 

Credit By : Natural Gas World

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