Desk
Share
India has taken an interesting step recently. The advancement of the nation’s energy vision comes with the approval of the Oilfield (Regulatory and Development) Amendment Bill by Lok Sabha. One of its major highlights is the Carbon Capture, Utilization, and Storage (CCUS) Promotion Policy and it’s the first of its kind in India. Such an approach demonstrates that India is beginning to address some of the environmental concerns related to the oil and gas industry.
The said bill appears to facilitate the capture and the subsequent industrial use or long-term secure containment of carbon dioxide emissions from oilfield activities. This shows the attempts made by India to counterbalance the environmental challenges while also attempting to satisfy the demand for energy, which sets a new sustainable resource management benchmark for the region.
Why is CCUS in the Bill So Important?
Besides the controls on high greenhouse gas emissions, the other standout characteristic of the newly passed bill is the inclusion of CCUS as part of the oilfield regulatory policy. The Oilfield (Regulatory and Development) Amendment Bill intends to:
* Advanced guidelines will be added to enhance oilfield utilization through strict environmental compliance.
* Initiative Capture, Storage and Usation of Carbon Emission through enforceable directions and positive reinforcements.
* Tax subsidies will be provided to foster supportive policies around innovation to drive CCUS.
* Support international cooperation around policy of advanced techniques for CCUS.
* Make it mandatory for public agencies to use private sector resources to implement CCUS.
* Construction around Partnerships between public and private sectors in CCUS and Associates activities.
The law motivates oilfield operators to adopt steps that capture and either utilize or safely store carbon emissions. This marks a milestone that attempts to move these technologies beyond pilot stages. The Government of India has stated the intent in such a way that it is not merely a recommendation; it is literally how they are meant to function. This indicates the direction where they will be motivated to develop systems to capture carbon.
If that is the case, it holds prospect for cleaner air in the future. It might also mean that India is becoming serious about taking climate change mitigation steps, which impacts everyone. Moreover, the bill includes CCUS with other green technologies like carbonless hydrogen production, further demonstrating the intent to promote fostered cleaner initiatives at the same time.
There’s a Reason to Pay Attention: There’s No Hiding From Punishment
Along with everything else, the government also has policies on the punishment for failing to follow or comply with the requirements. They might include paying some amount of money, which might be higher the longer they do not comply. This tells us that the government expects businesses to implement cleaner methods for carbon capture in their operations.
The legislation enhances the environmental sustainability of oilfield operations. To ensure progress is made, there are clauses for penalties—starting at ₹25 lakh, with non-compliance penalties of ₹10 lakh for each day after that.
A Step Forward, But Not Where We Want It
The amendments to the Oilfield (Regulatory and Development) Amendment Bill place heavy focus on CCUS which marks good progress towards India’s energy sector, though arguably still limited. It looks promising, even when weighed against everything we have done so far to address our environmental challenges.
The passing of these amendment bills is a notable landmark withinIndia’s progressive steps towards sustainable development of the energy sector. Their increased focus on CCUS technologies puts India in a unique position to moderate emissions and enable sustainable growth in the upstream oil and gas sector.
Read More: Mumbai-Nagpur Samruddhi Expressway: Final Phase to Open on May 1, Reducing Travel Time by Half
