India unveilsambitious upstream energy strategy at Energy Talks 2025.
Speaking at the ‘FiresideChat’ session organised on the sidelines of ‘Energy Dialogue 2025’, theMinister for Petroleum and Natural Gas, Shri Hardeep Singh Puri presented India’scomprehensive strategy for strengthening upstream exploration and production(E&P), enhancing energy resilience and international cooperation.
Replying toquestions on India's energy security situation due to global geopolitical hurdles,such as the Russia-Ukraine conflict and tensions in the Middle East, Puri said Indiahas actively increased its crude oil import sources from 27 to 40 countries. Hesaid the diversification is an important step to ensure that there is nodisruption in energy supply during a time of global unrest.
The Minister madeit very clear that India has never bought any banned crude oil. “Russian oil wasnot subject to global sanctions, but only had price caps, which were carefully craftedto reflect the realities of the international energy supply chain,” he said.
He said India’svision has remained active and balanced due to the leadership of Prime MinisterShri Narendra Modi, which has made the country a stabilizing force in theglobal energy market. Reiterating India’s ambitions in offshore energy, Puripointed out the significant hydrocarbon potential of the Andaman Basin oilfield,which he compared to the rich Guyana Basin. “I am sure you will find many areasthe size of Guyana, especially in the Andaman Sea,” he said.
The ministerexplained India's focus on enhancing knowledge of geological data throughexpansion and modernization of the country's seismic database. He also said thatthe government’s focus is on conducting comprehensive seismic surveys, using advancedtechnology, and making availability of data available to all through national datarepositories. The Minister said these efforts are critical to building investorconfidence and encouraging transparent, data-driven decision-making in oilfieldexploration.
Responding toconcerns about long-term supply security caused by current sanctions on Iranand Venezuela, Puri questioned the sustainability of such sanctions and pointedto the emergence of new sources of oil from countries such as Brazil, Guyana,and Canada. He pointed out that the global oil market is gradually becomingmore diverse and flexible. He also assured all stakeholders that India is fullyprepared to deal with any possible instability or disruptions.
Commenting aboutthe domestic front, Hardeep Singh Puri stressed on the important role played bystate governments in facilitating energy development projects. He called for mutualaccountability and strengthening of Centre-state cooperation. He also suggestedthat states that are accelerating energy infrastructure should be hailed asrole models for good governance.
The second editionof ‘Energy Dialogue 2025’, India’s premier upstream oil and gas conference, washeld last month at Bharat Mandapam in New Delhi. The event, organised by theDirectorate General of Hydrocarbons under the leadership of the Ministry ofPetroleum and Natural Gas, was attended by more than 700 participants includingUnion and State Ministers, senior officials, global industry leaders, expertsin the field and media professionals. With the theme of “Collaborate, Innovate,Coordinate”, the conference served as a dynamic platform for dialogue,technical exchanges, and strategic vision on India’s energy landscape.
The Ministervisited the exhibition gallery and innovation centre as part of the council's innovationexhibition. More than 50 technical posters and more than 15 innovative solutionspresented by Exploration and Production (E&P) operators, start-ups, and educationalinstitutions were presented at the event.
He interacted withseveral participants and highlighted the importance of continuous technologicalinnovation in shaping the future of India's upstream industry.