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Key Points

Petroleum Minister Hardeep Puri expressed optimism about discovering Guyana-sized oilfields in India's Andaman Sea during the Urja Varta 2025 event. The government plans to expand exploration to 1 million sq km by 2030 under new licensing policies. Puri emphasized reforms like HELP and ORD Act amendments to attract global investors. The event brought together energy leaders to discuss India's path toward energy security and green transition.

Key Points: Hardeep Puri Eyes Guyana-Sized Oilfields in Andaman Sea Exploration

  • India aims to explore 2 lakh sq km under OALP Round-10
  • Andaman Sea highlighted as high-potential oil exploration zone
  • Govt targets 1 million sq km exploration acreage by 2030
  • Reforms like HELP and ORD Act amendments to boost domestic production
2 min read

Hopeful to find several Guyana-sized oilfields, particularly in Andaman Sea: Hardeep Puri

Petroleum Minister Hardeep Puri expects major oil discoveries in India's Andaman Sea, targeting Guyana-sized fields under new exploration policies.

"I am positive we will find several fields of the size of Guyana, particularly in the Andaman Sea. – Hardeep Puri"

New Delhi, July 17

Minister of Petroleum and Natural Gas, Hardeep Singh Puri, on Thursday said that he expects the new round of hydrocarbon exploration being launched in India to strike several big Guyana-sized oilfields, particularly in the Andaman Sea.

“We will drill and explore for more hydrocarbons in an area of more than 2,00,000 sq km under OALP (Open Acreage Licensing Policy) Round-10. Our target is to increase exploration acreage to 0.5 million sq km by 2025 and 1.0 million sq km by 2030. I am positive we will find several fields of the size of Guyana, particularly in the Andaman Sea,” the minister said during the 'Urja Varta 2025' event here.

“We are working on areas of good quality data availability for explorers, financial incentives, stable regulatory framework, derisking investments and ease of doing business to make India the next global frontier for oil and gas E&P (exploration and production),” Puri remarked.

The minister also highlighted that he had “an invigorating conversation" at a fireside chat ‘Manch Mantri Ka’ at 'Urja Varta 2025', a one of its kind gathering of captains and leaders of India’s energy sector, Petroleum Ministry officials, energy professionals and stakeholders of India’s journey towards energy security and unprecedented green energy transition under the decisive and dynamic leadership of Prime Minister Narendra Modi.

He pointed out that despite geopolitical tensions in several parts of the world, India has successfully navigated the trilemma of energy availability, affordability and sustainability.

The energy needs of the country’s citizens remain the priority of the government and the basket of countries from where oil and gas are imported has been widened further, the minister pointed out.

“At the same time, with visionary reforms like HELP, opening up nearly one million sq km of hitherto ‘No Go’ areas and amendments to ORD (Oilfields Regulation and Development) Act. India is in the midst of unprecedented efforts to boost domestic hydrocarbons production by exploring newer areas,” the minister told the gathering.

The event has brought together energy ministers from various states, top government officials, and industry leaders from the oil and gas sector.

'Urja Varta 2025' aims to become a critical platform for shaping the future of India’s energy landscape and reinforcing the country’s commitment to sustainability and innovation in the energy domain.

- IANS

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Reader Comments

S
Sarah B
As an energy professional working in Mumbai, I appreciate the focus on ease of doing business. The OALP reforms have already made a difference in attracting investments. Hope this translates to more jobs in the sector!
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Aditya G
While exploration is good, we shouldn't put all eggs in the oil basket. The minister talks about green energy transition - I want to see equal focus and investment in renewables. Solar and wind power are India's real future.
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Priyanka N
The Andaman Sea exploration sounds promising, but what about local communities? Hope the government will consult with fishermen and tribal populations before starting any drilling operations. Development shouldn't come at their cost.
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Varun X
Finding Guyana-sized fields would be game-changing! But let's be realistic - exploration is risky business. The minister sounds optimistic, but we've heard similar promises before. Action and results matter more than announcements.
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Nisha Z
Good to see India expanding its energy options. With global tensions affecting oil prices, domestic production could help stabilize fuel costs for common people like us. Petrol prices are already too high! ⛽

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