Patna HC: Possessing Cough Syrup With under 2.5% Codeine Without Authorisation Attracts the NDPS Act  ||  Madras HC: Person Who Converts to Islam Cannot Claim Backward Class Muslim Status  ||  Madras High Court Lays Down Guidelines For Surrogacy Custody and Parentage Applications  ||  Bombay High Court: Residence Proof is Mandatory For RTE Neighbourhood School Admissions  ||  Madras HC Strikes Down TN Law Mandating Registrar’s Title Verification Before Property Registration  ||  Bombay HC Allows Galli News to Report Medical Negligence But Bars Defamatory Hospital Imputations  ||  Supreme Court: Parents’ Loss Cannot Be Measured With Arithmetical Precision  ||  Supreme Court: Registered Sale Deed Remains Valid Despite Minor Attestation Discrepancies  ||  Calcutta High Court: Section 107 BNSS Property Attachment Cannot be Used as a Recovery Tool  ||  Ker HC: Elected Representatives Must Swear by God or Affirm, Cannot Invoke Specific Deities in Oath    

Boost to Ease of Doing Business in Petroleum and Natural Gas Sector- (Press Information Bureau) (11 Apr 2018)

MANU/PIBU/0730/2018

Commercial

In line with the Government initiative of ease of doing business, the Union Cabinet chaired by Prime Minister Shri Narendra Modi has given its approval for delegating the powers to Minister of Petroleum and Natural Gas and Finance Minister to award the Blocks/Contract Areas to successful bidders under Hydrocarbon Exploration and Licensing Policy (HELP) after International Competitive Bidding (ICB) based on the recommendations of Empowered Committee of Secretaries (ECS). Under HELP, Blocks are to be awarded twice in a year. Therefore, this delegation of powers will expedite the decision making process on awarding blocks and give a boost to the initiative of ease of doing business.

Impact:

Under the NELP Policy, ECS considers the Bid Evaluation Criteria (BEC), conducts negotiations with the bidders wherever necessary and make recommendations to CCEA on award of blocks. The CCEA approves the award of blocks. The entire process, including Inter Ministerial Consultations (IMC) is quite lengthy and time consuming. In consonance with the Government initiative of 'Ease of Doing Business', it is desirable to shorten the duration of time taken for award of the Blocks / Contract Areas. Under the New Hydrocarbon Exploration and Licensing Policy' the competitive bidding will be continuous and blocks will be awarded twice a year.

Background:

Government of India launched a new policy regime for Exploration & Production (E&P) sector namely Hydrocarbon Exploration and Licensing Policy (HELP) in 2016 which is paradigm shift from earlier policy regime. The main features of new Policy regime are Revenue Sharing Contract, single Licence for exploration and production of conventional as well as unconventional Hydrocarbon resources, marketing & pricing freedom, etc. Open Acreage Licensing Policy (OALP) under HELP, is main innovative feature wherein investor can carve out Blocks of their own interest and submit an Expression of Interest (Eol) throughout the year. Based on the areas for which expression of interest has been expressed bidding will be conducted every 6 months.

Government received an overwhelming response in first Eol cycle of OALP which started on 1st July, 2017 and closed on 15th November, 2017. In the first Bid round, 55 blocks, having an area of 59282 sq. km spreading across 11 States have been offered for bidding. The bidding process is being handled through a secured and dedicated e-bidding portal.

Tags : POWER   DELEGATION   BUSINESS   EASE  

Share :        

Disclaimer | Copyright 2026 - All Rights Reserved