The day-long programme witnessed strong and diverse participation from domestic and international upstream operators, E&P service providers, global consulting firms, public and private sector financial institutions, insurers, academia and industry experts, underlining rising ecosystem-wide interest in India’s upstream reform agenda and investment opportunities.

In his virtual address, Hardeep Singh Puri, Minister for Petroleum and Natural Gas, highlighted that recent legislative, regulatory and policy reforms represent a landmark transformation of India’s upstream sector. He noted that data-led exploration initiatives, combined with policy reforms, have unlocked significant investment opportunities, particularly in offshore and frontier areas, while reaffirming the Government’s commitment to a stable, transparent and globally competitive investment framework.

Key Components of the Programme

The engagements included a workshop on financing India’s E&P growth, a session on the amended Oilfields (Regulation and Development) Act, revised Petroleum and Natural Gas Rules and the Model Revenue Sharing Contract (MRSC), along with a bid promotion event for upcoming upstream rounds. Senior officials from the Ministry of Petroleum and Natural Gas and the Directorate General of Hydrocarbons interacted extensively with participants.

Financing India’s E&P Growth

The financing workshop examined the readiness of India’s financial ecosystem to support expanded upstream investment under initiatives such as Samudra Manthan. Global consulting firms including S&P Global, Deloitte, A.T. Kearney and EY shared international perspectives on upstream financing models, risk allocation and capital mobilisation.

Financial institutions and insurers such as State Bank of India, New India Assurance and Bajaj Allianz discussed risk assessment frameworks, bank guarantee structures and emerging instruments, including insurance-backed surety bonds. It was highlighted that capital requirements are expected to rise sharply and become increasingly front-loaded, necessitating financing structures aligned with upstream risk profiles.

Amended ORD Act, PNG Rules and MRSC

A dedicated session familiarised operators with the amended ORD Act, revised PNG Rules and the updated MRSC. MoPNG noted that the reforms complete a decade-long effort to establish a predictable, investor-aligned regulatory framework, while DGH explained how contractual updates ensure alignment between policy intent and implementation.

New Upstream Bid Rounds

The bid promotion event showcased opportunities arising from regulatory evolution, improved data availability and government-led exploration. Srikant Nagulapalli, Director General, DGH, outlined forthcoming bid rounds, including OALP Bid Round X, DSF Bid Round IV and CBM Bid Rounds 2025–26.

Industry presentations highlighted India’s significant yet-to-find hydrocarbon potential, a growing domestic market with marketing and pricing freedom, access to high-quality data through the National Data Repository, and a strong policy focus on enhancing domestic production and energy security.