New Delhi/Mumbai | January 21, 2026
The Ministry of Petroleum and Natural Gas (MoPNG) organised a series of high-level upstream-focused meetings in Mumbai on January 19, 2026, aimed at strengthening financing mechanisms, advancing regulatory reforms, and promoting upcoming exploration bidding rounds.
The events witnessed strong participation from across the upstream ecosystem, including domestic and international upstream operators, exploration and production (E&P) service providers, global consulting firms, major public and private financial institutions, insurers, academia, and industry experts—reflecting growing interest in India’s upstream reform agenda and investment opportunities.
Upstream Reforms Mark a Historic Shift: Hardeep Singh Puri
Addressing the gathering virtually, Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, said that recent legislative, regulatory, and policy reforms represent a historic and progressive transformation of India’s upstream sector. He emphasised that these reforms, coupled with data-driven exploration initiatives, have unlocked significant investment opportunities—particularly in offshore and frontier areas.
The minister reaffirmed the government’s commitment to providing a stable, transparent, and globally competitive framework to attract both domestic and international investment.
Key Components of the Programme
The upstream engagements comprised three major components:
Workshop on Financing India’s Oil and Gas Development
Session on the Amended Oilfields (Regulation and Development) Act, Revised PNG Rules, and the Model Revenue Sharing Contract (MRSC)
Bid Promotion Programme for Three Upcoming Upstream Licensing Rounds
Senior officials from MoPNG and the Directorate General of Hydrocarbons (DGH) interacted extensively with participants during the sessions.
