The Offshore Areas Mineral (Development and Regulation) Act, 2002
Section 14. Period of commencement of operating rights.
A holder of operating right shall commence operation within the period specified below after the grant of the operating right and shall thereafter conduct such operation in proper, skilful and workman-like manner, as follows:--
table(a) reconnaissance permitsix months;
1[(aa) composite licence one year;]
(b) exploration licenceone year; and
(c) production leasetwo years.
/table
Source: IndiaCode Portal, Legislative Department, Ministry of Law and Justice, Government of India. Open on India Code Check against the official text before relying on it.
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