Open Acreage Licensing Policy

Recently, the government offered for bidding seven new areas for prospecting of oil and natural gas on revamped exploration terms that look to expedite cut in import dependence by raising domestic output under the fourth bid round of Open Acreage Licensing Policy (OALP).Consider the following statements regarding the OALP:

  1. OALP was introduced as part of the new fiscal regime in exploration sector called Hydrocarbon Exploration and Licensing Policy (HELP).
  2. The OALP, a critical part of the Hydrocarbon Exploration and Licensing Policy, provides uniform licences for exploration and production of all forms of hydrocarbons, enabling contractors to explore conventional as well as unconventional oil and gas resources.
  3. Setting up of National Data Repository is one of the milestones achieved for Open Acreage Licensing Policy.

Choose the correct answer from the codes given below:

1 and 2
2 and 3
1, 2 and 3
None of the above