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India offshore deepwater oil and gas push

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2026-07-31 12:27 UTC → 2026-07-31 12:31 UTC · added removed

On 25 July 2024 the Indian government announced the start of began drilling its first appraisal well, MN‑DWN18‑1‑HD, in the Mahanadi Offshore Basin. The well is Basin— the first of four planned deep‑water wells intended planned to assess gauge the basin’s hydrocarbon potential and advance the country’s energy‑security agenda under the Hydrocarbon Exploration and Licensing Policy and the Open Acreage Licensing Programme. A few days later, later the Union Cabinet approved the National Offshore Exploration Scheme, nicknamed dubbed “Samudra Manthan”, Manthan,” allocating Rs 84,084 crore to accelerate deep‑water and ultra‑deep‑water exploration across India’s offshore basins. The programme will exploration, reimburse up to 50 % half of exploratory‑well costs, fund 3D seismic surveys, and auction 18 offshore blocks, with the first deep‑water well under the blocks. The scheme already spudded in was presented as a cornerstone of India’s effort to slash its roughly 85 % reliance on imported crude. In July 2026 the Mahanadi basin. Together, Cabinet reiterated its commitment to Samudra Manthan, confirming the appraisal well same Rs 84,084 crore outlay and adding a parallel Rs 5,070 crore allocation for the funding scheme signal Pradhan Mantri Surya Sarovar Yojana, a coordinated push to reduce import dependence floating‑solar programme targeting 5 GW of capacity on reservoirs and secure domestic oil accompanying storage. Officials said the offshore scheme could identify over 600 million metric tonnes of oil‑equivalent reserves, while the solar initiative aims to boost renewable generation, preserve land, and gas supplies. further strengthen India’s overall energy‑security agenda.

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  1. 2026-07-31 12:31 UTC India offshore deepwater oil and gas push
  2. 2026-07-31 12:27 UTC India offshore deepwater oil and gas push

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