India has accelerated its exploration and production (E&P) efforts, awarding 28 blocks under the Open Acreage Licensing Policy (OALP) Bid Round-IX.
This expansion covers 136,596km² across eight sedimentary basins, with 38% in previously restricted "No-Go" areas.
Additionally, two blocks were awarded under the Special Discovered Small Field (DSF) Round, receiving 60 bids.
Petroleum Minister Hardeep Singh Puri noted that 76% of the total area currently under exploration has been brought under active exploration only since 2014.
The upcoming DSF Round-IV will offer 55 discoveries across nine contract areas, with estimated reserves of 258.59 million tonnes of oil equivalent.
The focus on the OALP highlights India's commitment to enhancing its energy sector and attract investment.
Previous DSF Rounds have awarded 85 revenue-sharing contracts covering 175 fields, the minister added.
He emphasised the potential in unconventional hydrocarbon sources, citing India's Coal Bed Methane (CBM) assets, estimated at 2.6 trillion cubic metres, with 15 active CBM blocks.
The government plans to launch a Special CBM 2025 Round, offering three new blocks in West Bengal and Gujarat.
Looking ahead, the minister said that OALP Round-X has also been launched, offering 25 blocks across 13 sedimentary basins, covering 192,000km².
This represents the largest-ever acreage, with 51% in previously restricted zones.
In a significant legislative update, the minister revealed that the amended Oilfields (Regulation and Development) Act, 1948, will also come into effect on 15 April 2025.
This reform modernises India's upstream regulatory framework, aligning it with international best practices. It aims to enhance transparency and efficiency in the sector.
To address industry concerns, a Joint Working Group has been established, comprising private E&P operators, national oil companies, the Ministry of Petroleum and Natural Gas, and the Directorate General of Hydrocarbons.
This collaborative approach seeks to foster industry growth and address challenges.
The draft PNG Rules Public Consultation Portal has been launched to encourage feedback from industry and public stakeholders.
These rules will shape future model revenue-sharing contracts and streamline sectoral regulations, promoting inclusive governance and legal clarity.
