India expands offshore exploration under HELP to cut ₹13L/cr imports
India is diving into offshore oil and gas exploration in the eastern and western offshore basins, areas thought to hold more than 5,600 million metric tons of oil equivalent (MMTOE) in hydrocarbon potential.
The goal? To lower the country's annual crude oil import bill of nearly $144 billion, or about ₹13 lakh crore.
This effort is powered by the 2016 Hydrocarbon Exploration and Licensing Policy (HELP), aiming to make India more energy independent.
Union Cabinet approves Samudra Manthan scheme
On July 31, 2026, the Union Cabinet approved Samudra Manthan, the National Offshore Exploration Scheme. This means more resources for deepwater drilling and seismic studies.
Special attention is on appraisal wells in Mahanadi to see if these efforts pay off, while early signs from the Andaman basin are looking promising for future discoveries.