India eyes oil exploration expansion after Middle East war shortages
Minister of Petroleum and Natural Gas Hardeep Singh Puri said the energy crunch provided fresh impetus for India's expansion of domestic supplies.
IMPORT-dependent India is significantly expanding its domestic oil exploration following a severe energy supply shock during the US-Iran conflict, which caused major disruptions and price hikes.
Petroleum Minister Hardeep Singh Puri announced that India is currently bidding out roughly 250,000 sq km of unexplored area to boost domestic production.
Currently, domestic production meets only about 10% of India's crude needs, yielding 25.98 million metric tonnes (approximately 522,000 barrels per day). To offset recent shortages caused by restrictions in the Strait of Hormuz, India rapidly diversified its crude suppliers from 27 to 41 countries—including Venezuela, Iran, Russia, and several African nations.
However, because over half of India's oil imports and 60% of natural gas pass through the Gulf waterway, the recent crisis provided a fresh impetus for a long-term strategic push.
The country is moving forward with the following key energy security measures:
Offshore and Deepwater Bidding: Accelerating efforts across traditional sites in Rajasthan, Gujarat, Mumbai offshore, and Assam, alongside deepwater exploration pushes like the highly prospective Andaman blocks.
Supply Diversification: Expanding crude purchases from the US and West Africa to reduce reliance on the Persian Gulf.
Strategic Reserves: Constructing additional Strategic Petroleum Reserves (SPR) facilities to build a larger buffer against future geopolitical chokepoints.
