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Shift to open licensing policy from Nelp by FY11

Shift to open licensing policy from Nelp by FY11
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First Published: Tue, Sep 01 2009. 10 05 PM IST
Updated: Tue, Sep 01 2009. 10 05 PM IST
New Delhi: India is planning to gradually phase out the current system of awarding oil and gas exploration blocks through the New Exploration Licensing Policy (Nelp) and introduce an Open Acreage Licensing System, the Directorate General of Hydrocarbons said on Tuesday.
Unlike the Nelp, where government selects the blocks to be offered to investors, open acreage system permits investors to choose the areas for undertaking exploration.
“We will have a minimum data bank by March 2010, and we will start open acreage immediately... Open acreage licensing policy will overtake Nelp soon after,” director general of DGH V.K. Sibal said.
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First Published: Tue, Sep 01 2009. 10 05 PM IST