In line with the Hon’ble Prime Minister’s goal of reducing import dependency on oil and gas by 10% by 2022 and to promote ease of doing business in the oil and gas sector in India, the Government of India announced the new Hydrocarbon Exploration and Licensing Policy (HELP). HELP will replace the earlier New Exploration Licensing Policy (NELP) that has been applicable since 1997-98. This policy aims to augment domestic production of Petroleum and expedite the appraisal of Indian sedimentary basins by providing Investors a ready access to huge amount of Geoscientific data available in National Data Repository (NDR), flexibility to carve out exploration acreages through an open acreage licensing process and increased operational autonomy through a new Revenue Sharing model.
Four main facets of HELP policy.
- Uniform License for Exploration and Production of all forms of Hydrocarbons
- An Open acreage Policy
- Easy to administer a Revenue Sharing Model and
- Marketing And Pricing Freedom for Crude Oil and Natural gas Produced.
HELP has Open Acreage Policy as one of the major constituent. It allows bidder to have access to geoscientific data through National Data repository (NDR) to make assessment of the prospectivity of any area and propose their own area (block) for bidding.
1st EoI Cycle
- NDR Launch : 28th June, 2017
- EoI Submission start : 1st July, 2017
- EoI Closing date : 15th November, 2017
- Offering Blocks for Bid : 1st January, 2018
- Closing of Bid : 1st March, 2018
- Award of blocks : 31st May, 2018
- 2nd EoI Cycle : 16th November, 2017