The oil and gas sector plays a vital role in the Indian economy. It employs many people and contributes to the country's GDP. Oil and gas industry projects are huge, multifaceted, and multidisciplinary, requiring a considerable amount of time and capital investment. It is common for oil and gas industry projects to face delays. A delay in the project's execution may result in increased expenses, a higher likelihood of material replacements, higher labor expenses, an impact on other projects that rely on the delayed project, harm to relationships with stakeholders, etc. Due to the importance of the oil and gas sector and the impact that delays can have on it, it is imperative to assess the reasons for delays in project execution in the Indian scenario. Thus, the present research has been focused on determining the factors causing delays in India's oil and gas industry. Further, mitigation strategies will be identified. The research used central tendency tests and interpretive structural modeling (ISM)-MICMAC (Multi-Criteria Decision Making) technique. The study identified the top ten factors causing delays and the corresponding top seven mitigation strategies. The most critical factors (drivers) identified are “bureaucratic government system and long project approval procedure,” “improper project feasibility study,” and “lack of cooperation from the government.” The top five mitigation strategies identified are “Effective teamwork improvement,” “Empowerment,” “Good relationship with environmental authorities and NGOs,” “Detection enhancement for collusive tendering and legal enforcement enhancement,” and “High commitment of all people involved.”