In one of the world’s largest offshore energy exploration initiatives, India is set to explore more than 2.5 lakh square kilometres under the Open Acreage Licensing Programme (OALP) Round X, Minister of Petroleum and Natural Gas Hardeep Singh Puri said on Wednesday.
“We are ready to enter a new era of energy… In the field of oil and gas exploration and production, there are no longer obstacles, only possibilities,” the minister said in a post on X.
Hardeep Singh Puri is currently attending a meeting of the Offshore Energy Cluster in Bergen, Norway.
“The bold decision taken by Prime Minister Narendra Modi on the ‘no-go’ area is not only strengthening the country’s energy security but also preparing India to lead a major transformation in the energy sector,” he added.
The Union Minister also met Kristian Sorensen, CEO of BW LPG, the world’s leading owner and operator of LPG vessels, which owns and operates Very Large Gas Carriers (VLGCs) with a total carrying capacity of over 4 million CBM.
“The company is among the leaders in LPG shipping, accounting for 20 per cent of LPG imports into India. During our meeting in Oslo, we discussed ways to further strengthen the collaboration between BW LPG and Indian energy companies,” Puri said.
Meanwhile, the oil and gas blocks being offered under the OALP have already attracted interest from both global and domestic energy players. Round X is expected to set new benchmarks for participation and investment.
The Petroleum Ministry has also invited feedback and suggestions on the Draft Petroleum and Natural Gas Rules, the Model Revenue Sharing Contract (MRSC), and the Petroleum Lease by July 17, 2025, as part of India’s push to accelerate the oil and gas sector.
Hardeep Puri is scheduled to engage with ministers, officials and industry leaders at ‘Urja Varta 2025’ at Bharat Mandapam on July 17, ahead of India’s Round X of exploration and production bidding for oil and gas blocks, which is among the largest globally.
—IANS
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