India Charts Bold Upstream Energy Strategy at Urja Varta 2025

India is enhancing its energy security strategy by intensifying upstream oil and gas exploration, diversifying crude sources, and implementing strong policy reforms, as pointed out by Union Minister of Petroleum and Natural Gas, Mr. Hardeep Singh Puri, during Urja Varta 2025 in New Delhi. In his remarks during the fireside chat, he highlighted India’s proactive approach to global disruptions by increasing crude imports from 27 to 40 nations. He attributed India's position as a net stabilising influence in global energy markets to the leadership of Prime Minister Mr. Narendra Modi. Recognizing the sector's evolution, he emphasized significant reforms like the updated Oilfields Regulation and Development Act (ORDA), modified Petroleum and Natural Gas (PNG) Rules 2025, and Model Revenue Sharing Contracts (MRSC), which focus on streamlining business processes, improving transparency, and increasing investor trust. India's upstream reforms are anticipated to open up one million sq. km of previously unreachable land, especially offshore regions such as the Andaman Basin. He highlighted India's capability to become a leading hub for deepwater exploration, fueled by sophisticated geoscientific data, supportive policies, and global cooperation. He additionally initiated the Hydrocarbon Resource Assessment Studies and a cloud-based National Data Repository to make exploration data accessible to all. The Inter-Ministerial Round Table conducted alongside Urja Varta 2025 saw involvement from 22 states and Union Territories (UTs), reinforcing the importance of Centre-State collaboration in India’s energy transition.