India's Hydrocarbon Outlook – 2022-2023

21 DGH: 3 DECADES OF UNLOCKING INDIA'S HYDROCARBON POTENTIAL the 2010s “National Seismic Program (NSP)” was formulated to conduct 2D seismic surveys in all sedimentary basins of India where no/scanty data is available. The Open Acreage Licensing Program (OALP), as part of the Hydrocarbon Exploration and Licensing Policy (HELP), was introduced by the government on 30th March 2016, and became operational on 1st July 2017, by adopting Revenue Sharing Contract Model. This program gives exploration companies the freedom to select their own exploration blocks without having to wait for formal bid rounds from the government. Blocks/Fields under OALP & DSF bidding rounds were awarded. Several new initiatives were taken by DGH to open new areas for exploration by promoting Indian exploration acreages abroad through board room meetings and by road shows at important venues abroad. the 2020s till March 2023 DGH implemented various measures to streamline the grant of licenses and clearances. Blocks under OALP & DSF bidding rounds were awarded. GOI launched Special CBM Bid Round (SCBM-21) under the Hydrocarbon Exploration Licensing Policy (HELP) through International Competitive Bidding, in September 2021. An early monetization scheme put in place to facilitate and encourage commercial production from a new discovery while exploration of the block is still underway. In line with the opening of EEZ, Government of India decided to fund the first ever seismic survey of the entire un- appraised portion of EEZ. ‘Urja Pragati’ portal to expedite the grant of clearances and ‘Upstream India’ portal to allow seamless coordination with E&P operators were launched. Empowered Coordination Committee (ECC) established to streamline and accelerate clearance and approvals. A dedicated ‘Hydrocarbon Clearance Cell ( HCC)’ to liaises with Central/State Government authorities for expeditious grant of clearances/approvals was setup at DGH. North-East Coordination Committee (NECC) was created and Coordinators placed with various Departments of State Govts of Assam, Arunachal Pradesh, and Tripura for ease of processing Clearance and Approval proposals. Process improvements have been made in the contract management system by introduction of Self-certification processes in contracts for all awarded contracts. The Government has lifted restrictions on areas situated along the West Coast, East Coast, and Andaman regions, allowing for the exploration of these previously designated "No-Go" zones. Exploration and Production (E&P) companies are now permitted to take their data collected during exploration activities outside of India for further analysis. To promote commercial production from newly discovered reserves, an early monetization plan has been implemented. To streamline the contract management system, self-certification processes have been integrated into all awarded contracts. New OALP bidding rounds Launched for award of new exploration blocks. E&P companies are being encouraged to take up large acreages in the newly opened EEZ, supported by quality data and a pro-investor incentive structure. In order to reach out to foreign investors, DGH is pro-actively engaging with them at roadshows and bilateral events.