Consider the following statements 1 Open acreage Licensing Programme OALP is a part of Hydrocarbons ...........

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Consider the following statements

1. Open acreage Licensing Programme (OALP) is a part of Hydrocarbons Exploration and Licensing Policy (HELP).

2. Under the programme, exploration companies can select their operation blocks without waiting for the formal bid round from the Government.

Which of the above statement(s) is/are correct?

1 only

2 only

1 and 2 both

None of the above

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Explanation:

Open acreage Licensing Programme (OALP) is a part of Hydrocarbons Exploration and Licensing Policy (HELP). It aims at enabling faster survey and assessment of areas with oil and gas potential. Under the programme, exploration companies can select their operation blocks without waiting for the formal bid round from the Government.