Global energy major BP Plc is gearing up to ramp up natural gas production in India, targeting nearly 10 million standard cubic meters per day (mmscmd) from the NEC-25 block off the Odisha coast. The company’s renewed optimism stems from recent upstream reforms rolled out by Prime Minister Narendra Modi’s government.
Modi’s Reforms Transform Investment Landscape for Energy Majors
BP CEO Murray Auchincloss, during his recent visit to India, credited the government’s legislative overhaul, including amendments to the Oilfields Act of 1948, for boosting investor confidence. The new reforms now cover unconventional energy sources like shale gas and coal-bed methane and provide longer leases, marketing freedom, and access to international arbitration.
“These improvements ensure operational clarity and reduce investment risk, making India more attractive to global energy players,” Auchincloss stated after meeting with PM Modi and Oil Minister Hardeep Singh Puri.
From Stalled to Surging: NEC-25 Project Gets Fresh Momentum
The NEC-25 block, jointly operated by BP (33.33%) and Reliance (66.67%), had faced delays due to regulatory disagreements. Now, with policy clarity and fiscal incentives, both partners are accelerating production efforts. The block has yielded 15 gas discoveries so far and is poised to become a new energy hub on India’s east coast.
BP-Reliance Expands Downstream via Jio-BP EV & Fuel Network
BP’s investment in India isn’t limited to upstream ventures. Through its joint venture with Reliance, Jio-BP, the firm operates nearly 2,000 fuel stations and is rapidly growing its EV charging and bio-CNG infrastructure.
“India’s demand for fuel, clean energy, and convenience is rising, and we’re here to meet it,” Auchincloss said.
Collaborations with ONGC and OALP Bids Signal Strategic Depth
In a landmark move, BP-Reliance teamed up with state-run ONGC to bid for oil and gas blocks under OALP-IX, marking a first-of-its-kind collaboration blending public sector experience with private agility.
“Such partnerships will help India increase domestic output and reduce energy imports,” said Auchincloss.
India Emerges as Strategic Energy Investment Hub
With over 85% oil import dependency and surging energy needs, India’s reformed policy environment is drawing in global players. BP’s aggressive investment signals a long-term bet on India’s energy potential, aligned with Modi’s vision of self-reliance and energy security.
