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[BUSINESS] · India · 9 sources

India begins drilling first appraisal well in Mahanadi Offshore Basin to boost energy security

On July 25, 2024 the Indian government announced the start of drilling the first appraisal well, MN‑DWN18‑1‑HD, in the Mahanadi Offshore Basin. The well is the first of four planned deep‑water wells that will assess one of India’s most prospective offshore basins, using world‑class deep‑water drilling technology to unlock new hydrocarbon resources and increase domestic production.

Petroleum and Natural Gas Minister Hardeep Singh Puri said the move reflects a decade of policy reforms that transformed India’s exploration and production sector. He highlighted the Hydrocarbon Exploration and Licensing Policy (HELP), the Open Acreage Licensing Programme (OALP), a transparent revenue‑sharing framework, and the opening of nearly 99 % of former offshore “No‑Go” areas. Since 2014, about 81 % of India’s active exploration acreage has been awarded, with 172 blocks covering roughly 380,000 sq km and committed investments exceeding $4.3 billion. Puri noted that in FY 2025‑26 alone around 674 wells were drilled, resulting in five new discoveries.

“Every metre drilled brings us closer to reducing import dependence, strengthening self‑reliance and realising the vision of a developed India,” Puri said, describing the well as a step toward long‑term energy security and self‑sufficiency.

Sources

4 days ago