Licensing round

{
  "id": "MLC-T-OAG-002154",
  "term": "Licensing round",
  "field": "Oil and gas",
  "definition": "A formal process conducted by a government or national oil company to invite bids from oil and gas companies for exploration and production rights over designated blocks or areas. Companies submit proposals outlining their work programs, financial commitments, and technical capabilities. Successful bidders are awarded licenses or concessions, leading to exploration activities.",
  "subject": "Oil and Gas Business",
  "url": "https://mlchart.com/terminology/oil-and-gas/licensing-round/"
}