India opens coastal waters for offshore exploration

Prime Minister Narendra Modi announced that India has opened the majority of its coastal waters for mineral and hydrocarbon exploration under the ‘Samudra Manthan’ initiative. Previously, approximately 99 percent of these coastal waters were designated as ‘no-go areas,’ a policy the Prime Minister described as a ‘flawed mindset’ that hindered offshore discovery.

To accelerate these efforts, the government has allocated approximately ₹85,000 crore to support seismic surveys, stratigraphic wells, and common offshore infrastructure. The program aims to reduce the high financial risks associated with deepwater exploration, where companies often face significant capital losses from dry wells. By providing better geological information and supporting domestic manufacturing of exploration equipment, the initiative seeks to attract private capital to bolster India’s energy security.

This move comes as India continues to rely on imports for nearly 90 percent of its crude oil requirements. The government also highlighted progress in energy infrastructure, noting that piped gas distribution has expanded from 70 cities to 700 cities over the last 12 years.