Draft Offshore Areas Operating Right Rules, 2024
Ministry of Mines administers the Offshore Areas Mineral (Development & Regulation) Act, 2002 (OAMDR Act). The Act provide for development and regulation of minerals resources in the territorial waters, continental shelf, exclusive economic zone and other maritime zones of India and to provide for matters connected therewith or incidental thereto. The Ministry of Mines has prepared draft Offshore Areas Operating Right Rules, 2024 which inter-alia will provide the terms and conditions of operating rights; provisions related to their expiry, lapse, surrender, termination and transfer; payment of royalty, auction premium, etc. These rules are proposed to supersede the Offshore Areas Mineral Concession Rules, 2006.
