New Exploration Licensing Policy (NELP) was conceptualised by the Government of India, during 1997-98 to provide an equal platform to both Public and Private sector companies in exploration and production of hydrocarbons with Directorate General of Hydrocarbons (DGH) as a nodal agency for its implementation. It was introduced to boost the production of oil and natural gas and providing level playing field for both public and private players. Introduction New Exploration Licensing Policy (NELP) was conceptualised by Amit B Singh after request by the Government of India, during 1997-98 to provide an equal platform to both Public and Private sector companies in exploration and production of hydrocarbons with Directorate General of Hydrocarbons (DGH) as a nodal agency for its implementation. India has an estimated sedimentary area of 3.14 million km2. consisting of 26 sedimentary basins, of which, 57% (1.79 million km2.) area is in deepwater and remaining 43% (1.35 million km2.) area is in onland and shallow offshore. At present 1.06 million km2 area is held under Petroleum Exploration Licenses in 18 basins by national oil companies viz. Oil and Natural Gas Corporation Limited (ONGC), OIL India Limited (OIL) and Private/Joint Venture companies. Before implementation of the New Exploration Licensing Policy (NELP) in 1999, a mere 11% of Indian sedimentary basins were under exploration, which has now increased extensively over the years. Recently, bidding process was completed in NELP-IX. Till 2010, 8 rounds of NELP have been completed. 400 PSC’s have been signed, out of which 168 are in operation. The private / JV companies contribute about 46% of gas and 16% oil to the national Oil & Gas production. The Mangala fields in Rajasthan and Krishna-Godavari Basins have been the major source for oil and gas fields. History New Exploration Licensing Policy (NELP) was formulated by the Government of India, during 1997-98 to provide level playing field for all the investors and providing several concessions and incentives to both Public and Private sector companies in exploration and production of hydrocarbons with Directorate General of Hydrocarbons (DGH) acting as a nodal agency for its implementation. Need for NELP India is the fifth largest consumer of primary energy and the third largest consumer of oil in the Asia–Pacific region after China and Japan. Due to high economic growth, there is a huge need for enhancing supply of energy resources. Also, dependence on imported petroleum continues to grow and is ultimately impacting