India Launches Largest Offshore Energy Exploration Push Under OALP Round X: Hardeep Puri
(File Photo | IANS)
New Delhi/Bergen (Norway): India is embarking on one of the world’s largest offshore energy exploration initiatives, covering an expansive 2.5 lakh square kilometers under the Open Acreage Licensing Programme (OALP) Round X, Union Petroleum and Natural Gas Minister Hardeep Singh Puri announced on Wednesday.
“We are ready! For entering a new era of energy… In the field of oil and gas exploration and production, there are no longer obstacles, only possibilities,” Puri posted on social media platform X, highlighting the government’s aggressive push toward energy self-reliance.
Global Spotlight: India Showcases Offshore Vision in Norway
The announcement was made during Minister Puri’s visit to the Offshore Energy Cluster meeting in Bergen, Norway, where he underscored India’s ambitions to become a leading force in the global energy sector.
He credited Prime Minister Narendra Modi's decision to lift restrictions from "no-go" areas as a key enabler in unlocking India’s vast offshore potential.
“The bold decision taken by PM Narendra Modi on the 'no-go' area is not only enhancing the country's energy strength but also preparing India to lead a major transformation in the energy sector,” Puri said.
Strengthening Global Partnerships: Meeting with BW-LPG CEO
As part of the visit, the minister also held strategic discussions in Oslo with Kristian Sorensen, CEO of BW-LPG, the world’s largest owner and operator of LPG vessels. The company manages Very Large Gas Carriers (VLGCs) with a carrying capacity exceeding 4 million cubic meters, and is a key partner in India’s LPG import ecosystem.
“BW-LPG accounts for 20% of India’s LPG imports. In our meeting, we explored ways to deepen our collaboration with Indian energy firms,” Puri noted.
Round X Set to Attract Record Global Investment
The OALP Round X has already sparked keen interest among global and domestic energy players, positioning India as a competitive and open destination for hydrocarbon exploration. The government’s ambitious offering is poised to set new benchmarks in foreign direct investment (FDI), technology transfer, and offshore asset development.
As part of the process, the Ministry of Petroleum and Natural Gas has released draft documents including:
- Petroleum and Natural Gas Rules
- Model Revenue Sharing Contract (MRSC)
- Petroleum Lease Agreement
Public and industry stakeholders have been invited to submit feedback by July 17, 2025, in a bid to ensure transparency and adaptability in the licensing regime.
‘Urja Varta 2025’ Set to Spotlight India’s Energy Future
The momentum will continue with ‘Urja Varta 2025’, a flagship energy summit to be held at Bharat Mandapam, New Delhi, on July 17. Hardeep Puri is expected to engage with top ministers, global CEOs, policymakers, and investors during the event, which is timed with the culmination of India’s Round X bidding process.
India’s Energy Strategy: A Shift from Import Dependence to Exploration Leadership
India currently imports nearly 85% of its crude oil requirements. However, with strategic moves like OALP Round X, reforms in offshore exploration zones, and international collaboration, the government aims to significantly reduce its dependence on energy imports in the next decade.
Experts believe that Round X could mark the beginning of a new chapter in India’s energy story, enabling it to harness untapped offshore reserves while aligning with the nation’s energy transition goals.