Oilfield (Regulatory and Development) Amendment Bill, 2024

March 17, 2025

The Oilfield (Regulatory and Development) Amendment Bill, 2024 was passed by Lok Sabha after Rajya Sabha’s approval on December 3, 2024.
Objective: Aims to reform the legal framework, enhance investor confidence, boost oil and gas exploration, and support India’s energy security.
Key Reforms:

1. Shift from multiple licenses to a single petroleum lease permit.
2. Supports Ease of Doing Business and resource-sharing for small operators.
3. Strengthens dispute resolution and stabilizes investor operations.
4. Enables adoption of new technologies like Carbon Capture, Green Hydrogen.

Enforcement & Penalties:
Increased penalties: ₹25 lakh + ₹10 lakh per day for continued violations.
Establishes an adjudication and appellate authority for penalty enforcement.
Federalism & Future Impact: The Bill retains State rights, ensures regulatory efficiency, and strengthens India’s energy sector, contributing to Viksit Bharat 2047.