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3w ago

India Launches Record Offshore Exploration Round, Eyes Major Andaman Find

With public feedback invited on draft petroleum rules, officials highlight promising Andaman Sea prospects backed by global partnerships.

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Overview

  • India has opened its largest offshore exploration tender under OALP Round X, offering 2.5 lakh square kilometers for bids.
  • The Petroleum Ministry is soliciting industry input on draft petroleum and natural gas rules, the Model Revenue Sharing Contract and lease legislation through July 17.
  • Preliminary deep-sea drilling in the Andaman basin has revealed hydrocarbon indications that officials say could approach Guyana-scale volumes.
  • Minister Hardeep Singh Puri met BW-LPG CEO Kristian Sorensen in Norway and engaged other international firms on subsea manifold projects and AI-driven upstream solutions.
  • Prime Minister Modi’s decision to cut offshore ‘no-go’ areas by 99 percent has unlocked over one million square kilometers for exploration to help reduce India’s 88.2 percent crude import reliance.