Latest news with #OffshoreEnergyCluster
Time of India
09-07-2025
- Business
- Time of India
India set to explore over 2.5 lakh sq kms area in one of largest offshore energy efforts
As one of the world's largest offshore energy exploration efforts, India is set to explore more than 2.5 lakh square kms area under the Open Acreage Licensing Programme (OALP) Round X, Minister of Petroleum and Natural Gas, Hardeep Singh Puri , said on Wednesday. 'We are ready! For entering a new era of energy… In the field of oil and gas exploration and production, there are no longer obstacles, only possibilities,' the minister said in a post on X. In this regard, Hardeep Puri attended a meeting of the Offshore Energy Cluster in Bergen, Norway. 'The bold decision taken by PM Narendra Modi on the 'no go' area is not only enhancing the country's energy strength but also preparing India to lead a major transformation in the energy sector,' said the minister. The union minister also met Kristian Sorensen, CEO of BW-LPG which is the world's leading owner and operator of LPG vessels, owning and operating Very Large Gas Carriers (VLGC) with a total carrying capacity of over 4 million CBM. 'The company is among the leaders in LPG shipping, accounting for 20 per cent of LPG imports into India. In our meeting in the Norwegian capital Oslo, we discussed ways of further strengthening the collaboration between BW-LPG and Indian energy companies,' said Hardeep Puri. Meanwhile, the oil and gas blocks being offered under the OALP has already garnered attention from global and domestic energy players, and Round X is expected to set new benchmarks for participation and investment. The Petroleum Ministry has invited feedback and suggestions on Draft Petroleum and Natural Gas Rules, Model Revenue Sharing Contract (MRSC) and Petroleum Lease before July 17, 2025 as part of the country's focus to accelerate the oil and gas sector. Hardeep Puri is slated to engage with ministers, officials and industry leaders at 'Urja Varta 2025' at Bharat Mandapam on July 17 in the run-up to India's Round X of exploration and production bidding for oil and gas blocks, which is the biggest globally.
Time of India
08-07-2025
- Business
- Time of India
India seeks offshore tech tie-ups for deep-sea oil, hydrogen collaboration with Norway
New Delhi: India is seeking collaboration on offshore energy technologies with Norwegian firms as it prepares to explore more than 2.5 lakh square kilometres under the Open Acreage Licensing Policy (OALP) Round-10, Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said. In a post on X, the minister said the country is looking to develop a full exploration and production (E&P) deepwater technology ecosystem under the leadership of Prime Minister Narendra Modi. "As India plans to explore over 2.5 lakh sq kms in Open Acreage Licensing Policy Round 10 in one of the largest offshore exploration bidding rounds globally, we are trying to develop a full E&P deepwater technology ecosystem in India, under the visionary leadership of PM Narendra Modi," Puri said on X. Puri participated in a roundtable with representatives of the Offshore Energy Cluster in Bergen, Norway, to discuss a range of technologies for deep-sea hydrocarbon exploration. The discussions covered well services, subsea operations, testing, maintenance operations, drilling tools, drilling submersible rigs, well completion services, high pressure high temperature wells, drillships, and monitoring technologies. "In a roundtable with representatives of Offshore Energy Cluster in Bergen, Norway we held invigorating discussions on technologies including well services, subsea operations, testing, maintenance operations, drilling tools, drilling submersible rigs, well completion services, high pressure high temperature wells, drillships, monitoring technologies covering the entire gamut of hydrocarbons exploration, particularly deep sea exploration by the Norwegian energy professionals," Puri stated. The meeting was attended by representatives from TechnipFMC, Reach Subsea, DNV Group, Odfjell Drilling, CCB Subsea, Shearwater, Innovasjon Norge, and NORWEP. A representative from Equinor India was also present. Jostein Dahl Karlsen represented the Norwegian Ministry of Foreign Affairs and the Norwegian Ministry of Energy at the discussions. The government has been expanding OALP rounds to boost exploration and enhance domestic production of oil and gas, especially from frontier areas and deep-sea basins.
