India expands domestic oil exploration to cut import dependence

India’s petroleum minister Hardeep Singh Puri announced a major push to increase domestic crude‑oil production, aiming to reduce the country’s reliance on imports after supply disruptions in the Strait of Hormuz. Under the “Samudra Manthan” national deep‑water exploration mission, about 250,000 sq km of unexplored offshore and onshore areas will be opened for bidding, backed by roughly $10 billion in investment. The drive targets deep‑water and ultra‑deep‑water blocks, especially in the Andaman‑Nicobar basin, and seeks participation from global majors such as Petrobras, TotalEnergies, BP, Shell and ExxonMobil.

India, the world’s third‑largest oil importer, currently produces around 52,000 bpd – roughly 10 % of its demand – while consumption has risen from 5 m bpd in 2021 to about 5.6 m bpd today and is expected to reach 6 m bpd. Expanding domestic output is presented as essential for energy security amid volatile global markets and ongoing Middle‑East tensions.