Is India Progressing Towards Oil Self-Sufficiency? Hardeep Singh Puri Explains
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Synopsis
India is on the verge of achieving oil self-sufficiency, thanks to the leadership of Prime Minister Modi and initiatives from the Petroleum Ministry. Discover how recent policy reforms and exploration efforts are paving the way for a sustainable energy future.
Key Takeaways
- India aims for oil self-sufficiency.
- Enhanced exploration through OALP.
- Significant investments in energy sector.
- Clean cooking fuel access has increased.
- Policy reforms to boost oil and gas production.
New Delhi, July 20 (NationPress) India is making steady and assured strides towards achieving oil self-sufficiency. Under the guidance of Prime Minister Narendra Modi, the nation is securing its energy future step by step, as highlighted by Petroleum Minister Hardeep Singh Puri on Sunday.
Currently, a vast offshore area of 1 million square kilometers is open for oilfield exploration, and the minister noted that 99 percent of 'No-Go' areas have been cleared, as shared on the X social media platform.
The oil and gas blocks available through the Open Acreage Licensing Programme (OALP) have attracted significant interest from both global and domestic energy stakeholders, with Round X anticipated to establish new standards for participation and investment.
Minister Puri stated, "25 blocks under OALP-X; 154 exploration blocks are active; 14 new oil and gas discoveries; Rs 792 crore invested in Mission Anveshan; 6,200 GLKM seismic data collected; ONGC producing 34,000 BOPD oil and 3 MMSCMD gas."
This month, the Petroleum Ministry sought feedback and suggestions on the Draft Petroleum and Natural Gas Rules, Model Revenue Sharing Contract (MRSC), and Petroleum Lease, as part of its initiative to accelerate oil and gas exploration. These reforms aim to enhance exploration and production in the sector.
The Oilfields (Regulation and Development) Act, 1948, underwent amendments in March 2025, with new PNG rules introduced within three months leading up to OALP Round X—the largest global exploration and production bidding round, reflecting PM Modi's vision for the industry.
This is an opportune moment for entrepreneurs and industry leaders to consider investing in oil and gas exploration in India. According to Puri, "It has never been easier, quicker, or more lucrative to invest in India’s energy future."
Furthermore, clean cooking fuel has become integral to the daily lives of Indians, achieving near 100 percent geographic and population coverage.
Minister Puri emphasized, "From 55 cities in 2014 to over 300 cities and towns, and from 2.5 million kitchens to 15 million homes now, India's city gas distribution networks have initiated a revolution under PM Modi."
Point of View
It is vital to acknowledge India's ambitious journey towards oil self-sufficiency. This effort not only reflects the government's commitment to strengthening the energy sector but also positions India as a key player in the global oil market. The ongoing reforms and exploration initiatives will undoubtedly have a significant impact on the economy and energy security, aligning with national interests.
NationPress
20/07/2025
Frequently Asked Questions
What is OALP?
The Open Acreage Licensing Programme (OALP) is a government initiative that allows companies to bid for oil and gas exploration blocks in India, promoting investment and exploration in the energy sector.
How many cities have city gas distribution networks in India?
As of now, city gas distribution networks have expanded from 55 cities in 2014 to over 300 cities and towns across India.
What recent reforms have been made in the oil sector?
Recent reforms include amendments to the Oilfields (Regulation and Development) Act, 1948, and the introduction of new Petroleum and Natural Gas Rules to enhance exploration and production.
What are the benefits of the recent oil and gas discoveries?
The recent oil and gas discoveries contribute to energy security, attract investments, and support economic growth in the country.
Why is investing in India's energy sector beneficial now?
Investing in India's energy sector is advantageous due to ongoing reforms, increased opportunities for exploration, and a growing domestic demand for energy.
