Section 75: Licensing Round Guidelines.

The licensing round guidelines shall be accompanied with the model licence for the petroleum prospecting licence or model lease for the petroleum mining lease for the bid round and shall include the—
(a) licence or lease acreages, the term and minimum work obligations;
(b) requirements to be fulfilled by the bidders and the pre-qualification criteria, as the case may be;
(c) bid parameter;
(d) list of documents required and criteria for the evaluation of technical capacity, financial competence and legal status of interested parties; and
(e) details and cost for the acquisition of relevant data and studies.