New Delhi, Dec 30 (NationPress) The Minister of Petroleum and Natural Gas, Hardeeep Singh Puri, emphasized the sweeping economic reforms initiated by the Narendra Modi administration that are facilitating business efficiency and laying the groundwork for future advancements.

In a statement on X, he described these initiatives as the Reform Express 2025, characterized by a consistent effort to eliminate obstacles week after week.

Puri noted that in an unpredictable global climate where political upheaval is commonplace, Prime Minister Modi’s stable governance is particularly noteworthy.

The minister detailed that pivotal trade agreements, revamped labor codes, the Securities Market Code Bill, and the Indian Ports Act 2025 have established a robust foundation for future progress. He also pointed out that the SHANTI Bill represents a significant advancement in modernizing India's civil nuclear framework.

“Collectively, these reforms illustrate a clear strategy: refine the legal framework, decriminalize minor offenses, modernize labor regulations, enhance market governance, digitize trade operations, improve logistics, and minimize risks in long-term energy,” he stated.

Highlighting the advancements in the oil and gas sector, Puri mentioned that the ORD Amendment Act, 2025 and the new PNG Rules 2025 aim to mitigate investor risks by ensuring stable terms throughout the lease duration, transitioning to a singular petroleum lease for the entire project lifecycle, and instituting clearer timelines for approvals.

The Oilfields (Regulation and Development) Amendment Act, 2025 (ORDA 2025) is a key legislation enacted in April 2025 designed to enhance energy security by making the upstream oil and gas industry more appealing to investors through streamlined leasing processes, enabling lease unitization, and imposing financial penalties for infractions instead of criminal charges, with the goal of attracting capital and technology for accelerated hydrocarbon exploration and production.

India's revised Petroleum and Natural Gas Rules, 2025 are revolutionizing the sector by replacing outdated licenses with single, extended leases, establishing a 180-day approval window, clarifying lease valuation methods, eliminating criminal penalties in favor of fines, and encouraging infrastructure sharing to attract investment and increase domestic output, heralding a new era for investors.

Puri also remarked that the Open Acreage Licensing Programme (OALP) continues to expand the exploration landscape, with Round X offering 25 blocks over an area of approximately 2 lakh square kilometers, while the National Deep Water Exploration Mission indicates a strategic emphasis on domestic resources, technology, and proficiency in complex exploration.