New Delhi, July 20 (IANS) India is taking steady, confident steps towards oil self-sufficiency and under Prime Minister Narendra Modi’s leadership, the country is securing its energy future, step by step, Petroleum Minister Hardeep Singh Puri said on Sunday.
While 1 million square km offshore area is now open for oilfield exploration, 99 per cent of ‘No-Go’ areas have been cleared, the minister informed on X social media platform.
The oil and gas blocks being offered under the Open Acreage Licensing Programme (OALP) have already garnered attention from global and domestic energy players, and Round X is expected to set new benchmarks for participation and investment.
“25 blocks under OALP-X; 154 exploration blocks active; 14 new oil and gas discoveries; Rs 792 crore invested in Mission Anveshan; 6,200 GLKM seismic data already collected; ONGC producing 34,000 BOPD oil and 3 MMSCMD gas,” he mentioned.
The Petroleum Ministry this month invited feedback and suggestions on Draft Petroleum and Natural Gas Rules, Model Revenue Sharing Contract (MRSC) and Petroleum Lease as part of the country’s focus to accelerate oil and gas. These are a series of pathbreaking policy reforms that are being implemented to promote exploration & production in the oil and gas sector.
The Oilfields (Regulation and Development) Act, 1948, was amended in March 2025, and new PNG rules have come within three months in the run-up to OALP Round X, which is the largest such exploration and production bidding round globally as part of PM Modi’s vision for the sector.
This is a great time for entrepreneurs and industry leaders to look at oil and gas exploration in India. It has never been easier, faster, or more profitable to invest in India’s energy future, according to Puri.
According to the minister, clean cooking fuel is part of the daily life of every Indian with near 100 per cent geographic and population coverage.
“From 55 cities in 2014 to 300+ cities and towns, from 25 lakh kitchens to 1.5 crore homes now. India’s city gas distribution networks have ushered in a revolution under PM Modi,” he emphasised.
–IANS
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