Petroleum and Natural Gas Minister Hardeep Singh Puri on Tuesday, 25 August held what he described as “a productive discussion” with Scott Sandlin, India Country Chair of ExxonMobil, on oil and gas exploration opportunities in India under the Open Acreage Licensing Policy (OALP) Round 10 and the Eastern Offshore. The meeting signals fresh momentum in India’s bid to attract global upstream investment as the country pushes to expand domestic hydrocarbon production.

What the Minister Said

Puri, in a post on X, highlighted that approximately 1 million sq. km. of previously designated ‘No Go’ areas have been opened to investors, underpinned by a revamped regulatory framework. “Around 1 million sq. km. of ‘No Go’ areas opened by India now offer an investor-friendly upstream framework to our international partners after the new Oilfields (Regulation and Development) Amendment Act, 2025, new PNG rules and empowered Committee of Secretaries (ECS) reforms have been introduced,” he said.

OALP Round 10: India’s Largest Bid Round Yet

The government’s OALP Bid Round 10, announced as part of accelerated exploration and production efforts, is the largest single bid round under the Hydrocarbon Exploration and Licensing Policy (HELP) regime in terms of acreage offered. It puts 25 blocks covering approximately 1,82,589.21 sq. km. on the table for investors. Of these, 19 blocks are offshore, spanning 1,65,718 sq. km., with 13 blocks totalling 1,24,327 sq. km. falling in deep water and ultra-deep water zones. The blocks are spread across 13 sedimentary basins, with 6 blocks onland.

Bidding for onland and shallow water blocks closed on 19 June, while the window for deep and ultra-deep water blocks remains open until 17 September. Each block has reportedly been technically analysed by international experts for hydrocarbon potential, and data is freely available to prospective investors.

Puri Also Meets Bain and Company Chairman

In a separate engagement on the same day, Puri met Manny Maceda, Chairman of Bain and Company, the global management consulting firm. The minister said Bain’s cross-sector expertise in technology, energy, and strategy could “collaborate meaningfully with Indian energy entities in India’s efforts towards strengthening and expanding the energy sector.”

Broader Context and What’s Next

This comes amid India’s sustained push to reduce import dependence and boost domestic oil and gas output. The regulatory overhaul — including the 2025 Oilfields Amendment Act and the ECS reforms — is designed to cut approval timelines and offer greater fiscal predictability to international majors such as ExxonMobil. Notably, the Eastern Offshore, one of the focus areas discussed, has long been considered underexplored relative to its estimated hydrocarbon potential. The outcome of OALP Round 10 bidding, particularly for the deep-water blocks, will be closely watched as a barometer of global investor confidence in India’s upstream sector.