New Frontiers: India's Deep-Sea Exploration Push

Deepwater basins globally were unlocked through a combination of technology and sustained capital, a playbook India is now applying to its own coastline. Gas finds along the eastern seaboard, in the Andaman and Mahanadi basins, have opened a new frontier. The recent $8.8 billion Samudra Manthan scheme now funds 60 deepwater and ultra-deepwater wells, and the latest OALP round has put 21 more blocks covering over 80,000 sq. km up for bid. Turning this acreage into production is now the task ahead for industry and its partners. Advanced technology, sustained capital and experienced global operators will all need to come together at scale alongside India's upstream champions. Global operators weigh deepwater acreage against alternatives worldwide, and what draws them in is fiscal terms, speed of approvals and clarity on gas pricing and marketing freedom. The discussion will focus on what it will take to convert India's offshore potential into production, what global operators look for before committing deepwater capital, and how quickly the ecosystem can move to get there.