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India is set to bolster its energy security through a three-pronged strategy amid rising geopolitical tensions and global oil supply pressures.
The plan involves launching a national deepwater exploration programme called ‘Samudra Manthan’, expanding strategic crude oil reserves by six million tonnes (MT) to create a 90-day import buffer, and accelerating initiatives to position the country as a global refining and petrochemicals hub. Cabinet notes for these proposals are being prepared, with approvals expected between May and June 2026.
At present, India holds around 5.33 MT in strategic crude reserves, equivalent to roughly 10 days of imports. Combined with commercial-cum-strategic reserves under development and refinery stockpiles, total coverage currently stands at nearly 80 days. The proposed expansion will increase this to 90 days and introduce a 10-day strategic gas buffer for LNG terminals.
Under Samudra Manthan, exploratory drilling will be significantly scaled up from about 30 wells per year to at least 100 wells annually over a five-year period starting 2026–27, aiming to boost domestic hydrocarbon production and reduce dependence on imports.
News by Rahul Yelligetti.
