India, April 3 -- Ministry of Petroleum and Natural Gas has set a target to increase domestic crude oil production to 35 million metric tonnes (MMT) by 2030, up from the current 29 MMT, as part of efforts to reduce import dependence and meet rising energy demand.

In a written reply to the Lok Sabha, Petroleum Minister Hardeep Singh Puri outlined a series of policy and regulatory measures aimed at boosting exploration and production activity across the country.

Policy Push to Boost Exploration Key initiatives include reforms under the Production Sharing Contract (PSC) regime for early monetisation of discoveries, alongside the implementation of the Hydrocarbon Exploration and Licensing Policy (HELP) and the Discovered Small Field (DSF) P...