- HELP (Hydrocarbon Exploration and Licensing Policy) (2016):
- Uniform Licensing System: Covers all hydrocarbons (oil, gas, coal bed methane) under single license.
- Open Acreage Licensing Policy (OALP): Bidders can apply for any block not already covered.
- Enables faster coverage of geographical area.
- Revenue Sharing Model: Contracts based on percentage of revenue share to government.
- Simplifies process, does not require cost auditing.
- Pricing Freedom: Contractor has freedom for pricing and marketing of gas produced domestically.
- Reduced Royalty: Graded system of reduced royalty for offshore exploration/production (7.5% shallow, 5% deep, 2% ultra-deep).
- These measures aim to attract investment, increase domestic production, and improve efficiency.