The Contract Signing Ceremony for the OALP Bid Round IX, Special DSF Bid Round 2024, and the launch of Discovered Small Fields Bid Round IV brought together leaders and professionals from the energy sector. Over the past decade, India has made significant strides through landmark reforms, increasing the explored area of its sedimentary basins from 6% to 10%, with plans to expand it to 15% by 2030 and nearly eliminate “No-Go” areas in the Exclusive Economic Zone (EEZ). By fostering pro-investor policies, fast-tracking clearances, and promoting sustainability, India aims to cultivate a robust $100 billion investment potential in the E&P sector by 2030. Additionally, the launch of the draft PNG Rules Public Consultation Portal during the event aims to enhance transparency and inclusivity in governance, inviting contributions from industry stakeholders and the public to shape rules that will guide Model Revenue Sharing Contracts and promote legal clarity.
Contract Signing Ceremony for OALP Bid Round IX
