In a significant push to accelerate oil and gas exploration, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri announced a series of pathbreaking policy reforms aimed at boosting India’s exploration and production (E&P) ecosystem. These reforms are part of the government’s larger strategy under the leadership of Prime Minister Narendra Modi to enhance energy security and attract global investment into the sector.
“India is undergoing a transformative shift in its oil and gas exploration landscape. We are introducing ease-of-doing-business reforms after consultations with stakeholders across the board,” Minister Puri wrote in his social media account *X*.
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Key Reform: Amendment to 1948 Act and New PNG Rules
A landmark move in this direction was the amendment to the Oilfields (Regulation and Development) Act, 1948 in March 2025, followed by the rollout of new Petroleum and Natural Gas (PNG) Rules within a record time of three months.
These changes come in the lead-up to OALP Round X—described as the largest exploration and production bidding round in the world. The Open Acreage Licensing Programme (OALP) has already garnered attention from global and domestic energy players, and Round X is expected to set new benchmarks for participation and investment.
Public Consultation on New Drafts Open Till July 17
To further enhance transparency and stakeholder engagement, the Ministry of Petroleum and Natural Gas has invited public feedback on the following draft documents:
- Draft Petroleum & Natural Gas Rules
- Model Revenue Sharing Contract (MRSC)
- Petroleum Lease
Stakeholders can submit their suggestions and comments to [email protected] before July 17, 2025.
Urja Varta 2025 to Showcase Opportunities
Minister Puri also announced his upcoming participation in Urja Varta 2025, scheduled to be held at Bharat Mandapam, New Delhi, on July 17. The event will convene ministers, industry leaders, senior officials, and energy experts to deliberate on India’s energy transition and upstream investment climate.
“This is a great time for entrepreneurs and industry leaders to look at oil and gas exploration in India,” Puri emphasized. “It has never been easier, faster, or more profitable to invest in India’s energy future.”
Read Also: Hardeep Singh Puri Vows to Elevate India’s Energy Independence Through Strategic Partnerships
Industry Outlook:
A Promising Future for E&P in India
The recent policy revamp and the upcoming OALP Round X signal India’s strong intent to unlock its hydrocarbon potential and reduce import dependency. With the revised framework promising greater regulatory clarity, faster approvals, and investor-friendly revenue models, India is positioning itself as one of the most attractive destinations for oil and gas exploration globally.
