NEW DELHI— Petroleum and Natural Gas Minister Hardeep Singh Puri on Thursday expressed optimism that India’s upcoming round of hydrocarbon exploration could yield multiple large-scale oilfields, comparable in size to those found in Guyana—particularly in the Andaman Sea.
Speaking at the Urja Varta 2025 energy summit in New Delhi, Puri announced that exploration efforts under the 10th round of the Open Acreage Licensing Policy (OALP) would cover more than 200,000 square kilometers. The government aims to expand total exploration acreage to 500,000 square kilometers by 2025 and to one million square kilometers by 2030.
“I am confident we will find several fields the size of Guyana’s, particularly in the Andaman Sea,” Puri said.
He added that the government is focusing on key enablers such as high-quality seismic data, financial incentives, a stable regulatory environment, and policies that reduce risk and enhance ease of doing business. These measures, he said, are intended to position India as a leading global destination for oil and gas exploration and production (E&P).
Puri also participated in a fireside chat titled Manch Mantri Ka during the event, which brought together leaders from the energy sector, senior government officials, and industry professionals to discuss India’s strategy for energy security and a green transition.
Despite global geopolitical tensions, India has successfully balanced the “trilemma” of energy availability, affordability, and sustainability, Puri noted. He emphasized that ensuring the country’s energy needs remain affordable and secure is a top government priority, and that India has broadened its pool of energy suppliers in response to changing market dynamics.
The minister also pointed to a series of reforms designed to boost domestic hydrocarbon production. These include the Hydrocarbon Exploration and Licensing Policy (HELP), amendments to the Oilfields Regulation and Development (ORD) Act, and the opening of nearly one million square kilometers of previously off-limits exploration zones.
“India is in the midst of an unprecedented effort to boost domestic oil and gas production by opening up new frontiers,” Puri said.
Urja Varta 2025 brought together energy ministers from various states, top officials from the Petroleum Ministry, and senior executives from India’s oil and gas industry. The event aims to serve as a strategic platform for shaping the future of India’s energy landscape and reaffirming its commitment to sustainable innovation. (Source: IANS)
