New Delhi, Nov 4 Union Petroleum Minister Hardeep Singh Puri said on Tuesday that India’s energy journey is entering a new era as seven sedimentary basins are under study with advanced technology for the exploration of oil and gas across the country.
“Mission Anveshan, one of the largest seismic mapping programmes for oil and gas in India’s history, has been launched under Prime Minister Narendra Modi’s vision. The Rs 792 crore programme launched in Oct 2024 is targeting 20,000 ground line kilometres (GLK) of seismic surveys of which over 8,000 GLK has already been surveyed,” the minister said.
“From the sands of Rajasthan to the sea depths of the KG Basin — Bharat is mapping its own energy future,” the minister remarked.
While 1 million square km offshore area is now open for oilfield exploration, 99 per cent of ‘No-Go’ areas have been cleared, he said.
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.
He earlier highlighted that “25 blocks have been marked under OALP-X; 154 exploration blocks are active; 14 new oil and gas discoveries; ONGC producing 34,000 BOPD oil and 3 MMSCMD gas.”
The Petroleum Ministry recently 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 and 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.
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.
(Auto generated news from IANS Feed. This has not been edited by enewstime desk)
