New Delhi, July 10 -- Union Minister for Petroleum and Natural Gas Hardeep Singh Puri highlighted India's momentum in the energy sector to explore and drill for hydrocarbons, opening 2.5 lakh sq km under OALP or Open Acreage Licensing Policy Round-10.
He was speaking at the 9th OPEC International Seminar in Vienna, Austria, with the theme 'Oil Markets: Energy Security, Growth & Prosperity'.
The Minister highlighted that this step is a result of key sectoral reforms, including a transition from the Production Sharing Contract Regime to the Revenue Sharing Model under the HELP or Hydrocarbon Exploration and Licensing Policy initiative by the Government.
He also pointed to the amendments of ORD (Oilfields Regulations and Development Act) ...