Page 56 - Policy Economic Report_Feb'25

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

investments in secure, sustainable, and affordable energy. India Energy Week 2025 will serve as a key
platform for global collaboration, driving discussions on energy security, innovation, and sustainability.

India’s Path to Sustainability

As a rapidly advancing economic powerhouse, India faces the twin challenge of surging energy demand
while mitigating its carbon footprint. In response, Hon’ble Prime Minister Shri Narendra Modi launched
the concept of “Panchamrit” at COP 26, representing a blend of five essential elements. “Panchamrit”
underscores India’s commitment to addressing climate change and fostering sustainable growth on a
global scale.

Panchamrit: India's Five Point Pledge Towards Climate Change

• India will take its non-fossil energy capacity to 500 GW by 2030
• By 2030, India will reduce the carbon intensity of its economy by less than 45%
• India will meet 50% of its energy requirements from renewable energy by 2030
• By the year 2070, India will achieve target of net-zero
• India will reduce the total projected carbon emissions by one billion tonnes till 2030

Conclusion

India Energy Week 2025 serves as a pivotal platform for global energy stakeholders to exchange ideas,
foster partnerships, and witness India's leadership in energy transition. As Shri Pankaj Jain, Secretary,
Ministry of Petroleum and Natural Gas, highlighted, IEW 2025 will act as a catalyst for groundbreaking
projects in green hydrogen, solar advancements, and exploration technologies, reinforcing India's
commitment to sustainability and innovation. With a focus on transformative collaboration and
investment, the event will shape the global energy agenda, positioning India at the forefront of energy
security, technological progress, and a sustainable future.

Hardeep Singh Puri launched the 10th round of the Open Acreage Licensing Policy (OALP) on the
sidelines of India Energy Week 2025

The Minister for Petroleum and Natural Gas Hardeep Singh Puri launched the 10th round of the Open
Acreage Licensing Policy (OALP) on the sidelines of India Energy Week 2025. This round is the largest bid
round in terms of acreage offered in a single OALP bid round. The round-X puts 25 blocks on offer across
13 sedimentary basins, including 19 offshore blocks. The blocks are cumulatively spread over an area of
1.91 lakh sq km. This round is also the largest offshore block bid round with 19 offshore blocks on offer,
covering an area of 1,75,115 sq km.

Out of the total 25 blocks on offer, 16 blocks with an area of 97,919.6 Sq Km (51 percent) fall in earlier
‘No-Go’ area. Out of 25 blocks, six are onland, six are in shallow water, one in deep water and 12 blocks
are in ultra deep-water areas. There are nine category-I blocks, 11 Category-II blocks and five Category-III
blocks.

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