OALP - newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra

Contract Signing Ceremony for OALP Bid Round IX

Newsmantra — Mon, 21 Apr 2025 06:20:02 +0000

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.

The post Contract Signing Ceremony for OALP Bid Round IX appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.

28 Blocks Awarded Under OALP Round-IX To Help India Reach Untapped Energy Potential

Newsmantra — Wed, 16 Apr 2025 06:08:16 +0000

The Ministry of Petroleum and Natural Gas has awarded 28 blocks under the Open Acreage Licensing Policy Bid Round Nine with an area of over 1 lakh 36 thousand square kilometres. Highlighting its significance, Petroleum and Natural Gas Minister Hardeep Singh Puri said that this will help India reach its untapped energy potential and reduce import dependency. Mr Puri said this will have far-reaching implications on the energy sector.

Talking about the recently passed Outfield (Regulatory and Development) Amendment Bill, the Petroleum Minister said the set of rules has been released in the public domain for better implementation. He urged stakeholders of the energy sector to come forward and provide their input. He also expressed optimism over joint ventures and technical assistance from foreign investors.

The post 28 Blocks Awarded Under OALP Round-IX To Help India Reach Untapped Energy Potential appeared first on newsmantra.in l Latest news on Politics, World, Bollywood, Sports, Delhi, Jammu & Kashmir, Trending news | News Mantra.