Pioneering Energy Reforms: India's Path to Accelerate Oil & Gas Exploration

On Tuesday, Union Minister Hardeep Puri announced a comprehensive set of policy reforms led by Prime Minister Narendra Modi, designed to rejuvenate India's oil and gas sector. These initiatives are meant to enhance exploration and production activities, offering new opportunities for industry players.

Describing the reforms as pivotal, Minister Puri highlighted the recent amendments to the Oilfields (Regulation and Development) Act of 1948, enacted in March 2025 as a key element of this regulatory transformation. The changes, introduced in less than three months, also include new Petroleum & Natural Gas (PNG) regulations, setting the stage for OALP Round X, the largest global bidding round for exploration and production.

Engaging with stakeholders remains a government priority, with the Ministry of Petroleum and Natural Gas inviting feedback on proposed Petroleum & Natural Gas Rules and frameworks. Suggestions must be submitted by July 17, 2025. Minister Puri encouraged industry leaders to explore the increasingly accessible and lucrative opportunities in India's energy sector.

(With inputs from agencies.)