New Delhi, Dec 29 (IANS) Petroleum and Natural Gas Minister Hardeep Singh Puri said on Monday that with the offering of 50 new blocks to investors for exploration and production of oil and gas, India’s energy sector has reached “a transformative milestone”.

The minister further stated that while 25 of these blocks are being offered under the 10th round of the oil exploration and licensing policy (OALP-X), another 55 fields across 9 contract blocks are being offered under the fourth bidding round for discovered small fields (DSF-IV).

Besides, 16 blocks are being put on offer as part of Special CBM Bid Rounds 2025 and 2026. While 3 blocks are in the 2025 category, the other 13 blocks are for 2026.

“The quest to unlock the potential of India’s sedimentary basins has gained a new thrust and momentum,” the minister remarked in a post on X.

Puri said that India has now introduced a unified regulatory framework enabled by the Oilfields (Regulation and Development) Amendment Act, 2025, which delinks petroleum operations from mining, and the PNG Rules 2025. The revenue-sharing contract model has been adopted to facilitate the ease of doing business.

He said that to make things easier for investors, a single license has been introduced for conventional and unconventional hydrocarbons. Exploration is allowed throughout the contract duration, while reduced royalty rates have been rolled out as an incentive. The norms also build in stabilisation for changes in law.

The 25 E &P blocks on offer span around 183,000 sq km, and are located onland, in shallow water and deepwater, while two blocks are in ultra-deepwater areas.

The order to make the E&P blocks attractive for investors, rights are retained throughout the contract duration, and the revenue share is fixed at LRP for the initial 5-7 years in Cat-I basins, and there is no revenue sharing in Cat-II/III until windfall gains. Besides, the terms provide for a graded reduced royalty for offshore. Exploration and swapping of the work programme is also allowed.

The bid Round-IV for discovered small fields (DSF) is also open, featuring 9 contract areas with 55 discoveries. The incentives provided under the scheme include a reduced royalty, which is 0 per cent for the first 7 years in the deepwater areas.

The freedom to market the oil and gas will be given to companies through the “arms-length sales principle”. There is also a provision for extensions in work programs on a payment basis, making it easier to do business for the investors. Besides, there is a provision for swapping the minimum work programme across discoveries, and prior experience in oil and gas is not mandatory for investors.

Apart from these, the special coal bed methane (CBM) Bid Round-2025 is live, offering 3 onland blocks which include two in Raniganj Coalfield in West Bengal and one block in Gujarat’s Cambay Basin, Puri said.

The government is “incentivising expedited production to fuel India’s economic growth and self-reliance”, the minister added.

–IANS

sps/vd