India has announced a major expansion in upstream opportunities with the launch of 50 new exploration and production (E&P) blocks across oil, gas and coal bed methane (CBM) assets, according to various news reports.
In a social media post on X, this move was described by Petroleum and Natural Gas Minister Hardeep Singh Puri as a “transformative milestone” for the country’s energy sector.
The offer includes 25 blocks under the latest Open Acreage Licensing Policy, spanning roughly 1.83 lakh sq km across onshore, shallow‑water, deepwater and ultradeepwater areas.
Key features include retained exploration rights for the full contract duration, reduced offshore royalties and revenue-sharing provisions designed to incentivize early-stage development.
Additionally, the Discovered Small Field Bid Round-IV comprises 55 fields across nine contract areas, bolstered by incentives such as zero royalty for seven years in deepwater areas, full marketing freedom and eased eligibility requirements.
