India set for Exploration in Over 2.5 Lakh sq km Area with Largest Offshore Energy Effort

New Delhi (The Uttam Hindu): Union Petroleum and Natural Gas Minister Hardeep Singh Puri on Wednesday said that in one of the world's largest offshore energy exploration efforts, India is set to explore over 2.5 lakh square kilometres under the tenth round of the Open Acreage Licensing Programme (OALP).

"We are set to enter a new era of energy! There are no more barriers, only possibilities, in oil and gas exploration and production," Union Minister Puri wrote on the social media platform X.

In this regard, Union Minister Hardeep Puri attended a meeting of the Offshore Energy Cluster in Bergen, Norway.

The Union Minister said, “The bold decision taken by Prime Minister Narendra Modi on the 'no go' areas is not only enhancing the energy capacity of the country but is also positioning India to lead a major transformation in the energy sector.”

Union Minister Puri also met Christian Sorensen, CEO of BW-LPG, the world’s leading owner and operator of LPG vessels with a fleet of Very Large Gas Carriers (VLGCs) with a total carrying capacity of over 4 million CBM.

Union Minister Hardeep Puri said, "This company is one of the leading players in LPG shipping, which accounts for 20 per cent of LPG imports in India. In our meeting held in Oslo, the capital of Norway, we discussed ways to strengthen cooperation between BW-LPG and Indian energy companies."

Meanwhile, the oil and gas blocks being offered under OALP have already attracted the attention of global and domestic energy companies and the tenth round is expected to set new benchmarks for participation and investments.

The Petroleum Ministry has invited feedback and suggestions on draft Petroleum and Natural Gas Rules, Model Revenue Sharing Contract (MRSC) and Petroleum Leases before July 17, 2025 as part of the country's focus to accelerate the oil and gas sector.

Union Minister Hardeep Puri will interact with ministers, officials and industry leaders at the 'Energy Dialogue 2025' organised at Bharat Mandapam on July 17.