Is India Ready to Explore Over 2.5 Lakh Sq Kms in One of the Largest Offshore Energy Initiatives?
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Synopsis
India is poised to embark on a monumental journey in offshore energy exploration, aiming to cover an astounding area of over 2.5 lakh square kilometers. This strategic move under the Open Acreage Licensing Programme (OALP) Round X showcases India's commitment to revolutionizing its energy sector and enhancing its global standing in oil and gas.
Key Takeaways
- India is set to explore over 2.5 lakh sq km under OALP Round X.
- This initiative marks a significant shift in India's energy strategy.
- Global and domestic energy players are showing interest in OALP.
- Feedback on the Draft Rules is sought before July 17, 2025.
- Hardeep Puri's discussions in Norway aim to enhance collaboration.
New Delhi, July 9 (NationPress) In a groundbreaking move, India is gearing up to investigate an expansive area exceeding 2.5 lakh square kilometers as part of the Open Acreage Licensing Programme (OALP) Round X, announced by the Minister of Petroleum and Natural Gas, Hardeep Singh Puri, on Wednesday.
“We are prepared! This marks the dawn of a new energy era… In the domain of oil and gas exploration and production, we face no barriers, only potential,” the minister expressed in a statement via X.
During his visit, Hardeep Puri participated in a meeting of the Offshore Energy Cluster in Bergen, Norway.
“The decisive step taken by PM Narendra Modi regarding the 'no go' area is not only fortifying the country's energy capabilities but also positioning India to spearhead a significant transformation in the energy landscape,” he remarked.
The union minister also engaged with Kristian Sorensen, CEO of BW-LPG, which is recognized as the leading owner and operator of LPG vessels, managing Very Large Gas Carriers (VLGC) with a total capacity exceeding 4 million CBM.
“This company leads in LPG shipping, accounting for 20 percent of LPG imports into India. During our discussions in the Norwegian capital, Oslo, we explored avenues to deepen the collaboration between BW-LPG and Indian energy enterprises,” stated Hardeep Puri.
Moreover, the oil and gas blocks available under OALP have attracted interest from both global and domestic energy players, and Round X is anticipated to establish new standards for participation and investment.
The Petroleum Ministry has issued an invitation for feedback and suggestions on the Draft Petroleum and Natural Gas Rules, the Model Revenue Sharing Contract (MRSC), and the Petroleum Lease ahead of the July 17, 2025 deadline, reflecting the country’s commitment to expedite the oil and gas sector.
Hardeep Puri is set to engage with ministers, officials, and industry leaders at ‘Urja Varta 2025’ at Bharat Mandapam on July 17 in anticipation of India’s Round X of exploration and production bidding for oil and gas blocks, touted as the largest globally.
Point of View
It is imperative to recognize the significance of India’s foray into offshore energy exploration. This initiative not only showcases the country's commitment to enhancing energy security but also positions India as a rising player in the global energy market. With the backing of strategic policy decisions and international collaboration, India is on its way to becoming a leader in the energy transition.
NationPress
13/07/2025
Frequently Asked Questions
What is the Open Acreage Licensing Programme (OALP)?
The Open Acreage Licensing Programme (OALP) is an initiative by the Indian government designed to facilitate the exploration and production of oil and gas resources by allowing companies to bid for blocks of land.
How does the OALP Round X differ from previous rounds?
OALP Round X aims to cover a significantly larger area, exceeding 2.5 lakh square kilometers, and is expected to attract more global and domestic investments compared to previous rounds.
What impact could this initiative have on India's economy?
This initiative has the potential to enhance India's energy security, boost economic growth, and create jobs in the energy sector.
Who is Hardeep Singh Puri?
Hardeep Singh Puri is the Minister of Petroleum and Natural Gas in India, responsible for overseeing the country's energy policies and initiatives.
When is the feedback deadline for the Draft Petroleum and Natural Gas Rules?
The deadline for feedback on the Draft Petroleum and Natural Gas Rules, Model Revenue Sharing Contract, and Petroleum Lease is July 17, 2025.
