Page 44 - Policy Economic Report - April 2025

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

have been awarded, covering 1.36 lakh square kilometers—38% of which fall in areas previously
designated as “No-Go.” Additionally, two blocks were awarded under the Special DSF Round, with a total
of 60 bids received.

“Congratulations to all the awardees. Your success will play a pivotal role in meeting our increasing energy
demands as India continues its ascent as one of the world’s largest energy consumers,” Shri Puri said.

Looking ahead, the Minister announced that OALP Round-X has already been launched at the India Energy
Week 2025, offering 25 blocks across 13 sedimentary basins—covering the largest-ever acreage of 1.92
lakh square kilometers, with 51% falling in previously restricted zones.

Furthermore, DSF Round-IV is being launched tonight, comprising 55 discoveries across nine contract
areas with estimated reserves of 258.59 million metric tonnes of oil equivalent (MMTOE). All blocks have
undergone rigorous technical vetting by global experts, and critically, all relevant data is being made freely
available to potential investors.

He also shared that under previous DSF Bid Rounds (I, II, and III), a total of 85 Revenue Sharing Contracts
covering 175 fields have been awarded.

Highlighting the potential in unconventional hydrocarbon sources, Shri Puri elaborated on India’s Coal Bed
Methane (CBM) assets, currently estimated at 2,600 BCM. With 15 active CBM blocks—five already under
production—the Government is preparing to launch a Special CBM 2025 Round to offer three new blocks
(two in West Bengal and one in Gujarat), further diversifying India’s energy portfolio.

In a major legislative update, the Minister announced that the amended Oilfields (Regulation and
Development) Act, 1948 (ORDA), will come into effect in April 15, 2025. This “landmark reform”
modernizes India’s upstream regulatory framework and aligns it with international best practices.

The Government has also been responsive to industry concerns through the establishment of a Joint
Working Group (JWG) comprising private E&P operators, National Oil Companies, the Ministry of
Petroleum and Natural Gas, and the Directorate General of Hydrocarbons. “The JWG has submitted its
report, and we are formally launching it this evening,” Shri Puri announced.

In a move towards inclusive governance and legal clarity, the Minister also launched the draft PNG Rules
Public Consultation Portal, encouraging industry and public stakeholders to share feedback. These rules
will help shape future Model Revenue Sharing Contracts and streamline sectoral regulations.

Government takes steps to ensure affordable Domestic Natural Gas to CNG (Transport) and PNG
(Domestic) Segments under CGD Sector

The Government has introduced key policy measures aimed at strengthening the allocation framework
for domestic natural gas, in alignment with its vision of promoting cleaner energy access, enhancing urban
air quality, and bolstering domestic energy security.

With a focus on ensuring the sustained availability and affordability of natural gas for key public-facing
segments, Compressed Natural Gas (CNG) used in transport and Piped Natural Gas (PNG) used in domestic

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