Massive offshore oil hunt launched by India: Here’s why global energy firms are watching

New Delhi: India has unveiled one of its largest offshore energy exploration campaigns under the Open Acreage Licensing Programme (OALP) Round X, with plans to explore over 2.5 lakh square kilometres of territory, 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,” the minister said in a post on X.

Offshore Energy Cluster meet in Norway

The announcement came during Puri’s visit to Bergen, Norway, where he attended a key meeting of the Offshore Energy Cluster. The minister highlighted that Prime Minister Narendra Modi’s decision to open previously restricted 'no-go' areas has empowered the sector and unlocked untapped exploration potential.

Puri added that this bold decision is enhancing the country’s energy strength and preparing India to lead a major transformation in the global energy landscape.

India strengthens global energy ties

During his Norway visit, Puri also held a meeting with Kristian Sorensen, CEO of BW LPG, one of the world’s leading owners and operators of LPG carriers. BW LPG currently handles 20% of India’s LPG imports. Discussions focused on expanding collaboration with Indian energy firms to boost shipping and supply chain partnerships.

Global interest in OALP Round X

OALP Round X has already attracted interest from both domestic and international energy players, and is expected to set new benchmarks in participation, investment, and technology transfer. This round marks India’s most ambitious push yet in exploration and production, reinforcing its commitment to energy security.

As part of this initiative, the Ministry of Petroleum and Natural Gas has also invited public feedback on the Draft Petroleum and Natural Gas Rules, Model Revenue Sharing Contract (MRSC), and Petroleum Lease documents. Suggestions are open until July 17, 2025.

Countdown to ‘Urja Varta 2025’ begins

Hardeep Singh Puri is expected to lead discussions with ministers, top industry executives, and global energy stakeholders at ‘Urja Varta 2025’ on July 17 at Bharat Mandapam, New Delhi.

IANS