New Delhi, Dec 29 (NationPress) The Minister of Petroleum and Natural Gas, Hardeep Singh Puri, announced on Monday that the introduction of 50 new blocks to investors for the exploration and production of oil and gas marks "a transformative milestone" for India's energy sector.

He elaborated that out of these new offerings, 25 blocks are being made available under the 10th round of the Oil Exploration and Licensing Policy (OALP-X), while an additional 55 fields spanning 9 contract blocks are part of the fourth bidding round for discovered small fields, known as DSF-IV.

Moreover, 16 blocks are included in the upcoming Special CBM Bid Rounds for the years 2025 and 2026, with 3 blocks targeting 2025 and 13 blocks for 2026.

In a post on X, the minister stated, "The quest to unlock the potential of India's sedimentary basins has gained a new thrust and momentum."

According to Puri, India has established a unified regulatory framework through the Oilfields (Regulation and Development) Amendment Act, 2025, which separates petroleum operations from mining, along with the PNG Rules 2025. This new framework incorporates a revenue-sharing contract model aimed at simplifying the business landscape.

To aid investors, a single license has been introduced for both conventional and unconventional hydrocarbons, allowing for exploration throughout the contract term, complemented by reduced royalty rates as incentives. These regulations also ensure stability against changes in law.

The 25 E&P blocks available encompass approximately 183,000 sq km, distributed across land, shallow water, and deepwater areas, with two blocks situated in ultra-deepwater zones.

To enhance the attractiveness of the E&P blocks for investors, rights are maintained throughout the contract duration, with a fixed revenue share at LRP for the initial 5-7 years in Cat-I basins, and no revenue sharing in Cat-II/III until significant gains are made. Additionally, the terms feature a gradient of reduced royalty rates for offshore operations, with allowances for exploration and work program exchanges.

The DSF Round-IV is also currently open, featuring 9 contract areas with 55 discoveries. The incentives offered under this scheme include a 0 percent royalty for the first 7 years in deepwater regions.

Companies will enjoy the freedom to market oil and gas under the "arms-length sales principle". Provisions for extending work programs on a payment basis have been introduced, simplifying business for investors. Additionally, swapping of minimum work programs across discoveries is permitted, and prior experience in the oil and gas sector is not a requirement for investors.

Furthermore, the Special CBM Bid Round-2025 is active, offering 3 onshore blocks, including two in the Raniganj Coalfield of West Bengal and one in the Cambay Basin of Gujarat, as noted by Puri.

The government is "incentivising expedited production to fuel India's economic growth and self-reliance", the minister concluded.