By 2030, India's exploration and production (E&P) sector would present at least $100 billion in investment opportunities, Union Oil Minister Hardeep Singh Puri stated at a July 11 event.

Puri was speaking at Delhi's "Urja Varta 2024" Bharat Mandapam. He noted that the nation has been facing several difficulties relating to exploration and production. "In the past, our efforts in the E&P sector have fallen far short of what is required."

Ten percent of the nation's sedimentary blocks are now being explored, the minister added. Puri stated that 16 percent will be subject to exploration when the 10th Open Acreage Licensing Programme (OALP) cycle is finished.

"Projects in the E&P sector that are delayed excessively will not be tolerated by the government."

The minister said that impartial policies were the reason the government was able to keep oil prices under control. "The world was in upheaval. Oil prices would have skyrocketed if we had done as the West had advised and avoided sourcing from a certain nation, the minister stated.