MoPNG Holds Talks With Stakeholders On Upstream Financing, Reforms

New Delhi, Jan 21 (KNN) The Ministry of Petroleum and Natural Gas (MoPNG) this week organised a series of upstream-focused engagements, bringing together a wide range of domestic and international stakeholders to discuss financing, regulatory reforms and upcoming exploration bid rounds. 

The programme saw participation from upstream operators, E&P service providers, global consulting firms, public and private financial institutions, insurers, academia and industry experts.

Addressing the participants virtually, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said recent legislative, regulatory and policy reforms represent a significant transformation of India’s upstream sector. 

He noted that these reforms, supported by data-driven exploration initiatives, have opened new investment opportunities, particularly in offshore and frontier areas. He reiterated the government’s commitment to a stable, transparent and globally competitive investment framework.

The engagements comprised three key components: a workshop on financing India’s exploration and production (E&P) growth, a session on the amended Oilfields (Regulation and Development) Act, revised Petroleum and Natural Gas Rules and the updated Model Revenue Sharing Contract (MRSC), and a bid promotion event for forthcoming upstream rounds. 

The financing workshop examined the readiness of India’s financial ecosystem to support expanded upstream activity, including initiatives such as Samudra Manthan. 

Global consulting firms shared international perspectives on financing models and risk allocation, while banks and insurers discussed risk assessment, bank guarantee structures and emerging instruments such as insurance-backed surety bonds. 

MoPNG Secretary Neeraj Mittal emphasised that timely availability of capital would be critical for upstream execution and called for sustained engagement among policymakers, operators and financiers.

In the regulatory session, MoPNG and DGH outlined how recent reforms aim to create a predictable and investor-aligned framework and how the updated MRSC translates policy changes into contractual terms. 

Industry participants provided feedback, with emphasis placed on consistent implementation going forward.

The bid promotion event highlighted new opportunities arising from regulatory reforms and improved data availability. DGH presented details of forthcoming bid rounds, including OALP Round X, DSF Round IV and CBM bid rounds for 2025–26. 

(KNN Bureau)