India is preparing for one of its largest offshore oil and gas exploration campaigns in recent years, with the government planning extensive geological surveys across multiple eastern offshore basins. According to media reports, survey ships are expected to soon begin scanning vast stretches of the Bay of Bengal and nearby offshore regions to hunt for commercially viable hydrocarbon reserves buried beneath the seabed. The government has floated bids for a large-scale multi-basin exploration project covering the Bengal-Purnea, Mahanadi, Krishna-Godavari, Cauvery, and Andaman offshore basins using advanced 2D Broadband Marine Seismic and Gravity-Magnetic surveys.
The scale of the exploration project is substantial, with Bengal-Purnea and Mahanadi alone covering nearly 45,000 line kilometres. Krishna-Godavari and Andaman will each see surveys across roughly 43,000 line kilometres, while Cauvery adds another 30,000 line kilometres. The work involves specialized seismic vessels fitted with long streamer cables that fire sound waves deep into the ocean floor and read signals that bounce back, essentially providing scientists with an X-ray of underground rock formations that may have trapped oil and gas over millions of years.
The timing of this exploration push is strategically important as India still sources nearly 85% of its crude oil from overseas, along with a significant chunk of its natural gas needs. Recent developments show India's proactive approach to energy security, with the country preparing to send oil tankers through the Strait of Hormuz for the first time since the ongoing Iran conflict began. As reported by Bloomberg, Indian vessels will begin attempting crossings once the government grants final approval, marking a significant shift from previous reliance on Middle Eastern suppliers. This dual approach of domestic exploration and strategic supply chain diversification demonstrates India's commitment to reducing import dependence through multiple channels.
Asian Energy Services operates as an oil and gas service provider offering end-to-end services across the upstream value chain, with over two decades of experience and strong seismic asset base. The company is pre-qualified by global majors including Petronas, TotalEnergies, ONGC, and Reliance Industries. Deep Industries specializes in air and gas compression services, drilling, and workover services, having strengthened its offshore presence through the 2022 acquisition of Dolphin Offshore Enterprises.
Oil India, a Maharatna PSU, operates across upstream, midstream, and downstream segments with 19 drilling rigs, 28 workover rigs, and 10 logging units. The company holds the record for drilling the deepest onshore well in India and operates a 1,157-km crude oil pipeline with over 6 MMT capacity. ONGC, India's largest crude oil and natural gas producer accounting for nearly 71% of domestic production, operates extensively across onshore and offshore fields with wholly owned subsidiary ONGC Videsh holding interests in 35 oil and gas assets across 15 countries.
