**Mumbai, January 19, 2026** – The Ministry of Petroleum and Natural Gas (MoPNG) hosted a significant event in Mumbai, focusing on enhancing financing, regulatory reforms, and promoting new exploration bid rounds in India’s upstream sector. The day-long event featured high-level participation from industry leaders across the globe, underscoring the robust interest in India’s evolving upstream oil and gas landscape.
**Ministerial Insights on Upstream Reforms** In a pivotal virtual address, Shri Hardeep Singh Puri, Minister for Petroleum and Natural Gas, detailed the progressive transformation underway in India’s upstream sector, driven by legislative and regulatory reforms. These changes aim to position India as a prime destination for domestic and international investment, especially in offshore and frontier regions.
**Key Discussions at the Event**
1. **Financing India’s E&P Growth** – A focused workshop revealed the readiness of India’s financial ecosystem to support upstream investments, highlighting the role of global consulting firms and financial institutions in shaping a conducive financing framework. Discussions emphasized the need for innovative financing instruments and risk-sharing mechanisms to accommodate the substantial capital requirements of upstream projects.
2. **Regulatory Framework Updates** – Detailed sessions were dedicated to the amended Oilfields (Regulation and Development) Act and the revised Petroleum and Natural Gas Rules. These updates are part of a decade-long effort to provide a stable, predictable, and investor-friendly regulatory environment in India’s oil and gas sector.
3. **Promotion of New Exploration Bid Rounds** – The event also featured a bid promotion session where upcoming opportunities in the OALP Bid Round X, DSF Bid Round IV, and CBM Bid Rounds for 2025–26 were showcased. These rounds open new avenues for investment in a market that promises substantial resource potential and a supportive policy framework.
**Industry and Expert Participation** Leaders from global firms such as Schlumberger and academic institutions like the University of Houston shared insights on the prospectivity of Indian basins and the impact of digital technologies in enhancing exploration outcomes. The discussions also covered strategic investment considerations, emphasizing India’s significant resource potential and favorable market dynamics.
**Looking Ahead** The event underscored MoPNG’s commitment to fostering a transparent, competitive, and investment-friendly environment in India’s upstream sector. The ongoing engagements between policymakers, financial institutions, and industry stakeholders are set to further refine the financing models and regulatory frameworks, ensuring the sector’s growth aligns with national energy security goals.
As India continues to streamline its regulatory processes and enhance its data-driven exploration capabilities, the global and domestic stakeholders are optimistic about the future trajectory of the country’s hydrocarbon exploration and production sector.
