A New Horizon: India's ₹3,200 Crore Hunt for Offshore Energy

Oil and Natural Gas Corporation (ONGC) and Oil India Ltd (OIL) will launch a ₹3,200 crore stratigraphic drilling campaign in early 2026, targeting untapped offshore sedimentary basins as part of India's efforts to reduce hydrocarbon import dependence.

Phase 1 Focus:

The initial phase will involve drilling four exploratory wells in the deep-sea regions of the:

Andaman Basin, Mahanadi Basin, Saurashtra Basin, Bengal Basin

Unlike conventional drilling, this stratigraphic drilling campaign is designed to collect geological data—not to produce hydrocarbons immediately. Techniques such as continuous coring, seismic data integration, and petrophysical logging will be used to build comprehensive subsurface profiles.

International Collaboration:

BP (British Petroleum) will provide technical expertise for site selection and drilling operations. The Government of India will fully reimburse ONGC and OIL for project costs, including payments to BP.

Strategic Objectives:

Identify new offshore hydrocarbon prospects, Reduce India’s energy import bill, Lay the groundwork for future commercial exploration, Strengthen geological understanding of frontier offshore basins

This initiative is a key component of India’s broader energy security strategy, complementing parallel developments in carbon capture, energy transition, and domestic oil production ramp-up.

News by Rahul Yelligetti.