India Accelerates Domestic Oil Exploration Amid Energy Supply Shocks

India is intensifying its efforts to expand domestic crude exploration, seeking to bolster energy security and reduce its dependence on imports following significant disruptions caused by recent Middle East conflicts. The nation, a major importer of oil and liquefied petroleum gas, faced considerable challenges due to restrictions on the Strait of Hormuz.

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We are currently in the process... to bid out about 250,000 square kilometers (96,500 square miles) of unexplored area.

Hardeep Singh Puri, India's Minister of Petroleum and Natural Gas, announced that the country is preparing to bid out around 250,000 square kilometers of unexplored territory. While India's current domestic crude production meets only about 10 percent of its needs, the minister highlighted the "ocean of energy opportunities" available, particularly off the coast of the Andaman and Nicobar archipelago.

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ocean of energy opportunities

This strategic push involves collaborating with international deepwater exploration experts, including Petrobras, TotalEnergies, BP, Shell, and ExxonMobil. The government is planning numerous deepwater and ultra-deepwater exploration wells to fully tap into the country's hydrocarbon reserves. This initiative is part of a broader plan that includes a significant $9 billion project on Great Nicobar Island to develop a megaport, airport, and city, enhancing India's strategic presence in the region.

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Large number of deepwater and ultra-deepwater exploration wells are planned in our offshore basins to fully exploit our hydrocarbon reserves.