Union Minister Hardeep Puri on Tuesday underscored a series of major policy reforms introduced by the Central Government under Prime Minister Narendra Modi’s leadership to boost oil and gas exploration in the country.
The initiatives are designed to encourage greater activity in the exploration and production (E&P) sector by improving the ease of doing business. Puri emphasized that these regulatory changes have been shaped through extensive stakeholder consultations at all levels.
In a post on X, the minister highlighted that key among the reforms is the recent amendment to the Oilfields (Regulation and Development) Act, 1948—enacted in March 2025—which forms a vital part of the broader regulatory revamp. He also noted that new Petroleum and Natural Gas (PNG) rules have been introduced within just three months as part of the reform drive.
"As a part of our focus to accelerate oil & gas exploration under the leadership of PM @narendramodi Ji, a series of pathbreaking policy reforms are being implemented to promote exploration & production. These changes to increase the ease of doing business for our E&P operators are being made after stakeholder consultation at every level." posted Puri.
The Oilfields (Regulation and Development) Act, 1948 was amended in March 2025 and new PNG rules have come within 3 months in the run up to OALP Round X which is the largest such exploration & production bidding round globally," posted by Union Minister Hardeep Puri on social media 'X'.
The Ministry of Petroleum and Natural Gas (@PetroleumMin) has also invited feedback and suggestions on the Draft Petroleum & Natural Gas Rules, Model Revenue Sharing Contract (MRSC), and Petroleum Lease framework.
Stakeholders are given time to submit their inputs by July 17, 2025, via email to png-rules@dghindia.gov.in.
Minister Puri emphasized the timing and importance of these reforms, calling it a "great time" for industry leaders and entrepreneurs to consider opportunities in India's oil and gas sector. He added that exploration in India is now "easier, faster, and more profitable than ever before."
(With Agency Inputs)
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