NEW DELHI, (Pakistan Point News - 16th Apr, 2025) India’s amended Oilfields Regulation and Development Act went into effect on 15th April, paving the way for new investments and operational efficiency in the energy sector.
India’s Minister of Petroleum and Natural Gas, Hardeep Singh Puri, said on the occasion that “in the next two decades, a quarter of the world’s incremental energy demand growth will come from India.”
He said India currently relies on imports for 88 percent of its crude oil needs and for 50 percent its requirements of natural gas. There is an urgent need, therefore, for domestic exploration and production.
Puri said the amended legislation is a historic step into the future to meet the demands of India’s rapidly growing energy sector.
Future exploration agreements under the new law will use the term “petroleum lease” aligning Indian practices with international standards.
“The Indian hydrocarbon sector is entering a new era of accelerated exploration and development,” the Minister said while addressing the 9th round of Open Acreage Licensing Policy and Special Discovered Small Field signing ceremony
even as the amended law went into effect.
He concluded that through investor-friendly reforms, swift approvals, scientific exploration, and a strong emphasis on sustainability, India is steadily building a resilient and future-ready energy ecosystem.
