Energy sector major Oil India Limited (OIL) has launched a landmark offshore drilling campaign in the Kerala-Konkan Basin, with the first well officially spudded, Union Minister for Petroleum and Natural Gas Hardeep Puri announced on Saturday.

He described the development as an “inspirational stride in India's energy journey guided by the vision of Prime Minister Narendra Modi.”

Frontier basin holds immense potential

The Category-III Kerala-Konkan Basin is considered a high-potential energy frontier. The well, planned to reach a depth of 6,000 metres, will be drilled about 20 nautical miles offshore, making it one of the deepest offshore wells in Indian waters, Minister Puri wrote on X.

“With over 1,028 sq. km of 3D seismic survey already completed, this campaign will probe key Cretaceous plays and strengthen India's pursuit of new energy frontiers,” he added.

India’s energy import dependence

Currently, India imports around 80 per cent of its oil and 50 per cent of its natural gas. To meet growing demand, the country is sourcing oil and gas from multiple nations while actively pursuing domestic production.

Efforts to boost traditional fossil-based energy production now include deepwater exploration, particularly in the Andaman region.

‘Guyana moment’ for India?

Earlier this year, Minister Puri hinted that exploration in the Andaman offshore areas could bring “good news” and potentially become India’s ‘Guyana moment,’ referring to significant new oil discoveries. He noted that a large expanse of seabed remains untapped and unexplored.

Collaboration with TotalEnergies

Earlier this month, OIL and TotalEnergies signed a “Technology Service Agreement” in New Delhi to enhance exploration in deep and ultra-deepwater offshore areas. The framework allows OIL to leverage TotalEnergies’ expertise in deepwater exploration across current and future offshore projects, including stratigraphic wells mandated by the Indian government.

Vast untapped reserves

India has around 3.5 million square kilometres of sedimentary basins, but exploration has covered less than eight per cent of this area. The recent initiatives mark a strategic push to explore these largely untapped offshore resources.