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India offshore deepwater oil and gas push

Updated 4 times since CLSTR started tracking revisions of this situation.

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2026-08-01 09:59 UTC → 2026-08-15 04:26 UTC · added removed

India continues to advance is advancing its offshore deep‑water deep-water oil and gas program under the Samudra Manthan scheme. After drilling its first appraisal well in the Mahanadi National Offshore Basin in July 2024, the Exploration Scheme. The Union Cabinet approved a Rs 84,084 crore National Offshore Exploration Scheme that will run budget for the initiative, which runs through FY 2030‑31. 2030-31. The scheme funds large‑scale 3‑D large-scale 3-D seismic surveys, deep‑ deep- and ultra‑deep‑water ultra-deep-water exploratory and scientific drilling, and the development of shared offshore production, evacuation evacuation, and an integrated oil‑and‑gas manufacturing zones. To facilitate exploration, the government has opened nearly 99% of former offshore ‘no-go areas’ for mineral and services zone. In July 2026 hydrocarbon discovery. Prime Minister Narendra Modi characterized the cabinet reaffirmed previous restrictions as a ‘flawed mindset’ that hindered offshore discovery. This policy shift is supported by reforms such as the budget Hydrocarbon Exploration and timeline, Licensing Policy (HELP) and state‑run the Open Acreage Licensing Programme (OALP). On July 25, 2024, drilling commenced on the first appraisal well, MN-DWN18-1-HD, in the Mahanadi Offshore Basin. This is the first of four planned deep-water wells in that basin. State-run ONGC has announced a plan plans to drill 150 deep‑water deep-water wells over seven years, targeting roughly 5,600 MMTOE of hydrocarbon potential. Officials expect the programme The program aims to identify more than 600 MMTOE of reserves, boost domestic output, create jobs, attract investment and cut reserves to reduce India’s reliance on imported crude (about 85 % of consumption). The same meeting also allocated Rs 5,070 crore to the Pradhan Mantri Surya Sarovar Yojana crude, which accounts for 5 GW approximately 85% to 90% of floating‑solar capacity consumption. Officials state that ‘every metre drilled brings us closer to reducing import dependence, strengthening self-reliance and at least 10 GWh realising the vision of storage, reflecting a dual strategy of expanding offshore hydrocarbons while scaling renewable energy. developed India.’

Versions

  1. 2026-08-15 04:26 UTC India offshore deepwater oil and gas push
  2. 2026-08-01 09:59 UTC India offshore deepwater oil and gas push
  3. 2026-07-31 18:06 UTC India offshore deepwater oil and gas push
  4. 2026-07-31 12:31 UTC India offshore deepwater oil and gas push
  5. 2026-07-31 12:27 UTC India offshore deepwater oil and gas push

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