India to double down on oil, gas exploration: Hardeep Singh Puri

Mr. Puri said the Indian economy expanding to $5 trillion by 2025 and to $10 trillion by 2030 from the current $3 trillion will lead to burgeoning energy demand.

India will more than double the area that is under exploration and production of oil and gas to 0.5 million square kilometre by 2025 and to 1mn sqkm by 2030 with a view to raising domestic output and cut reliance on imported fuel, Petroleum Minister Hardeep Singh Puri said on February 4.

The world’s third-largest energy consumer will continue to rely on hydrocarbons to meet its growing energy needs in the foreseeable future, he said at the World Energy Policy Summit 2022.

“India currently relies on imports to meet 85% of its oil needs and 50% of the natural gas requirement. This is because domestic production is inadequate.”