Petroleum and Natural Gas Minister Dharmendra Pradhan today said that Open Acreage Licensing Policy (OALP) is a market friendly policy. It is driving self-reliance in energy sector. He was speaking at the signing of contracts for 11 oil and gas blocks offered under the OALP Bid Round-5.
The Minister said the OALP has removed red-tapism and brought in a quantum jump in exploration and production sector. He called for moving away from business-as-usual approach and strive for exponential growth and speed. Mr Pradhan asked the winners to bring in new technology and new business models to expedite the production of oil and natural gas from these areas.
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