Page 48 - Policy Economic Report - Jan 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

• OALP Bid Round X: 25 exploration blocks covering 182,589 sq. km, with 91% offshore

• DSF Bid Round IV: 9 contract areas comprising 55 discoveries, with approximately 200 MMTOE of
2P reserves

• CBM Bid Rounds 2025–26: 16 blocks, with 74 BCM of prognosticated gas in 2025 and 200 BCM in
2026

The University of Houston presented insights on the hydrocarbon prospectivity of India’s East Coast
basins, drawing upon global analogues and basin evaluation methodologies. Schlumberger presented on
basin-scale investment opportunities enabled through digital solutions, demonstrating how advanced
subsurface imaging, data analytics and integrated digital workflows can enhance prospectivity
understanding, particularly in frontier and underexplored basins.

The session outlined the strategic investment case for India’s hydrocarbon sector, including:

• Significant yet-to-find resource potential of 3.9 billion tonnes of oil equivalent

• A large and growing domestic market with full marketing and pricing freedom

• A relatively low regulatory burden under revenue-sharing contracts

• Access to high-quality E&P data through the National Data Repository

• A strong policy focus on enhancing domestic production and energy security

India Energy Week 2026 Opens with Call for Investment, Partnerships and Action in Global Energy
Transition

India Energy Week 2026 commenced with keynote addresses by Union Minister for Petroleum and
Natural Gas, Hon’ble Hardeep Singh Puri, Hon’ble Sultan Ahmed Al Jaber, Minister of Industry and
Advanced Technology of the United Arab Emirates and Managing Director and Group CEO of ADNOC, and
a welcome address Hon’ble Chief Minister of Goa, Pramod Sawant.

The speakers reiterated the global conclave’s role as a premier international platform for translating
energy dialogue into action, innovation into implementation, and ambition into outcomes.

Delivering the keynote address, Minister Puri highlighted India’s steady and resilient progress towards
energy security, self-reliance and climate justice under the leadership of Hon’ble Prime Minister Narendra
Modi. He noted that India Energy Week has rapidly evolved into a trusted global forum, bringing together
policymakers, producers, consumers, technology providers and investors to navigate a period of
unprecedented transition and volatility in the global energy system.

Shri Puri emphasised that the global energy transition is fundamentally about “energy addition” rather
than replacement, underscoring the need for sustained investment across oil, gas, biofuels, green
hydrogen, LNG and clean cooking fuels. He outlined India’s reforms-driven approach to ensuring
availability, affordability and sustainability. The Minister highlighted the opening of large sedimentary

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