Daijiworld Media Network - New Delhi
New Delhi, Jun 22: In a landmark move to reduce energy imports and boost domestic hydrocarbon production, the Narendra Modi-led government has opened up 1 million square kilometres of India's sedimentary basin for oil and gas exploration, previously restricted as “No-Go” zones, Petroleum Minister Hardeep Singh Puri announced on Sunday.
Lauding the Prime Minister’s “visionary leadership,” Puri said this massive expansion is part of the government’s long-term strategy to unlock India’s untapped energy reserves and foster self-reliance in the energy sector.
“This historic decision will supercharge domestic production and reduce our dependence on imports,” he stated.
The initiative is supported by a reformed regulatory framework, replacing the outdated New Exploration and Licensing Policy (NELP) with the Open Acreage Licensing Policy (OALP), aimed at simplifying processes and attracting investment through ease-of-doing-business reforms.
Under OALP Round IX, about 38% of bids were for blocks in newly opened regions. In the upcoming OALP Round X—India’s largest ever bidding round—this number is expected to reach 75%, Puri noted. The round offers 25 exploration blocks across 13 sedimentary basins, spanning 191,986.21 sq km.
Of these 25 blocks:
• 6 are on land
• 6 are in offshore shallow waters
• 1 is in deep water
• 12 are located in ultra-deep-water zones
A particular area of interest is the Andaman Sea, which Puri described as a high-potential zone that could mirror the oil boom seen in Guyana.
“This could become India’s Big Oil Moment,” he said enthusiastically.
The minister emphasized that India’s hydrocarbon sector is entering a new era, driven by swift approvals, scientific exploration, investor-friendly reforms, and a strong focus on sustainability.
Looking ahead, Puri projected that India will account for 25% of the world’s incremental energy demand growth over the next two decades—a figure that underscores the importance of domestic energy production.
Reflecting on the past, Puri called the period between 2006 and 2016 a “dull decade” plagued by policy stagnation and bureaucratic delays, which led to the exit of major global players like BG Group, ENI, and Santos.
“We were determined to reverse that trend and unlock our vast energy potential—estimated at around 42 billion tonnes of oil and oil-equivalent gas,” he said.
The latest reforms signal a bold shift in India’s energy trajectory, with the government banking on domestic exploration to play a pivotal role in achieving its Viksit Bharat 2047 energy vision.