Latest News on Open Acreage Licensing Policy
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Open Acreage Licensing Policy - Total results - 5
Jan 07, 2019
Govt to launch delayed second round of oil block auction today in a bid to raise domestic outputUnder this policy called open acreage licensing policy or OALP, companies are allowed to put in an expression of interest (EoI) for prospecting of oil and gas in any area that is presently not under any production or exploration licence.
Aug 20, 2018
Vedanta to invest $2.3 billion in 'near term' in oil and gas activities to increase the reserve baseVedanta aims to increase production from the current 200,000 barrels of oil equivalent per day to 3,00,000 boepd over the next few years.
Aug 07, 2018
Anil Agarwal-led Vedanta set to bag 40 oil blocks in country's maiden open acreage auctionIncreased exploration would lead to more oil and gas production, helping the government to cut import dependence.
Apr 11, 2018
Ease of doing business: Cabinet delegates powers to oil, finance ministers to award oil blocksTill now, only the Cabinet headed by Prime Minister had the powers to approve award of an block or area for exploration and production of oil and gas
Mar 10, 2016
Cabinet approves new pricing formula for gas finds in difficult areasSeeking to revive interest in oil and gas exploration by simplifying rules, the cabinet approved a new fiscal and contractual regime for award of hydrocarbon acreages.