Government has taken various policy initiatives to increase domestic exploration and production of petroleum and natural gas and reduce dependence on imports in line with Atmanirbhar Bharat. These, inter-alia, includesreforms such as Hydrocarbon Exploration and Licensing Policy (HELP), Discovered Small Field (DSF) Policy, Open Acreage Licensing Policy (OALP), policy to promote and incentivize Enhanced Oil Recoveries (EOR), policy framework for exploration and exploitation of Coal Bed Methane (CBM) from areas under Coal Mining Lease and early monetization of CBM, etc.
Efforts have been made to increase the net geographical area under exploration from 2.5 Lakh Square Kilometer (SKM) to 5 Lakh SKM. Further, Government has opened 99% of the ‘No-Go’ area of the Exclusive Economic Zone (EEZ) for Hydrocarbon Exploration and Development. A total of 2,07,691 Sq. Km. under OALP (till Bid Round VII) and 16,508 Sq. Km. under DSF (till Bid Round III) have been allocated so far.
