Open Acerage Licensing Policy
- ONGC has made significant oil and gas discoveries named Suryamani and Vajramani in the Mumbai offshore basin, about 165 km off India’s west coast in the Arabian Sea.
- These discoveries were made in blocks awarded under the Open Acreage Licensing Policy (OALP) regime.
- Introduced in 2017 as part of the Hydrocarbon Exploration and Licensing Policy (HELP) by the Ministry of Petroleum and Natural Gas, OALP aims to boost exploration and production activities. I
- t allows companies to select exploration blocks independently, bypassing traditional government bid rounds, thereby accelerating hydrocarbon development across India.