Key Points

These reforms are aimed at promoting exploration and production in the field of oil and gas. The government believes that these changes, made to increase the ease of doing business for exploration and production (E&P) operators, have been developed after stakeholder consultation at every level.

The minister noted via a social media post on X that the recent amendments to the Oilfields (Regulation and Development) Act, 1948, which took place in March 2025, are a cornerstone of the new regulatory overhaul. The changes have also introduced new Petroleum & Natural Gas (PNG) rules within a short span of three months.

"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 and production bidding round globally," posted 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."

- ANI