Oil minister: Plans afoot to raise Andaman Sea output 7 fold

India's ethanol blending initiative has risen from 1.4% to 20%, which has aided energy security and environmental sustainability, even as the country is stepping up petroleum exploration and production with plans to raise production in Andaman Sea from 35,000 barrels per day to a projected 245,000 barrels, oil minister Hardeep Puri said.

Addressing the summit, Puri outlined the government's multi-faceted approach to diversify energy sources and highlighted the increased investments in ethanol blending, compressed biogas (CBG), and green hydrogen.

He referred to the 2016 transition from a production-sharing model to a revenue-sharing model. This policy shift has encouraged greater private participation and ensured quicker returns on investment, he added.