16-Oct-2026 17:18:11
India Opens 1 Million Sq Km for Oil, Gas Exploration; ₹84,700 Crore Support Announced
Petroleum Minister Hardeep Singh Puri announced government support of around ₹84,700 crore to accelerate domestic oil and gas exploration under the Samudra Manthan initiative. India has opened over 1 million square kilometres of offshore areas for exploration, aiming to unlock untapped hydrocarbon resources and reduce dependence on imports. The programme will support drilling activities, including around 150 wells over three years, according to the announcement. The push could create opportunities for oilfield services, drilling and energy companies as exploration activity expands.