NELP auction: Common licence for all resources planned.

Lifting all restrictions, the Ministry of Petroleum & Natural Gas, in the 10th edition of the oil and gas blocks auction unveiled at Petrotech 2014, has proposed to allow explorers to hunt for all kinds of resources - oil, gas, coal bed methane, or shale.

Till now the country has been offering exploration blocks under specific policies: New Exploration Licensing Policy (NELP) for oil and gas, and CBM Policy for coal bed methane.

In other words, NELP X will be offered under the Uniform Licensing Policy of hydrocarbon acreages with a new contractual system and fiscal model.

HBL