ONGC To Invest Rs One Trillion In Deepwater Exploration
OIL & GAS

ONGC To Invest Rs One Trillion In Deepwater Exploration

Oil and Natural Gas Corporation has announced an investment of Rs one trillion (Rs 1 tn) in deepwater exploration over the next five years, with a plan to drill 87 deepwater wells during that period. The plan is presented as central to the firm's strategy to boost domestic output and is likely to be critical for reducing India's dependence on fossil fuel imports. The announcement sets a clear schedule for offshore work and aligns with broader policy initiatives.

ONGC Chairman and Chief Executive Officer Arun Kumar Singh said the company would drill seven deepwater oil and gas wells this year and aims to increase the number to 10 next year. The five-year programme consolidates earlier field development plans and sets out the drilling cadence required to meet the target of 87 wells. The investment envelope is expressed as Rs one trillion and will be allocated across seismic surveys, drilling and associated infrastructure.

The central government announced the Samudra Manthan National Offshore Exploration Scheme with an outlay of Rs 840.84 billion (Rs 840.84 bn) between FY27 and FY31, a framework designed to catalyse offshore activity. ONGC intends to coordinate its deepwater programme alongside this scheme and is also looking to expand overseas production to diversify its asset base. The combined public and corporate measures are intended to strengthen long term energy security.

Deepwater exploration involves high capital intensity, extended lead times and specialised vessels and equipment, so execution will depend on supply chain readiness and regulatory clearances. ONGC is positioning its technical teams and procurement plans to support the drilling schedule over the five year horizon. The programme will test the company's ability to deliver complex offshore projects at scale.

Oil and Natural Gas Corporation has announced an investment of Rs one trillion (Rs 1 tn) in deepwater exploration over the next five years, with a plan to drill 87 deepwater wells during that period. The plan is presented as central to the firm's strategy to boost domestic output and is likely to be critical for reducing India's dependence on fossil fuel imports. The announcement sets a clear schedule for offshore work and aligns with broader policy initiatives. ONGC Chairman and Chief Executive Officer Arun Kumar Singh said the company would drill seven deepwater oil and gas wells this year and aims to increase the number to 10 next year. The five-year programme consolidates earlier field development plans and sets out the drilling cadence required to meet the target of 87 wells. The investment envelope is expressed as Rs one trillion and will be allocated across seismic surveys, drilling and associated infrastructure. The central government announced the Samudra Manthan National Offshore Exploration Scheme with an outlay of Rs 840.84 billion (Rs 840.84 bn) between FY27 and FY31, a framework designed to catalyse offshore activity. ONGC intends to coordinate its deepwater programme alongside this scheme and is also looking to expand overseas production to diversify its asset base. The combined public and corporate measures are intended to strengthen long term energy security. Deepwater exploration involves high capital intensity, extended lead times and specialised vessels and equipment, so execution will depend on supply chain readiness and regulatory clearances. ONGC is positioning its technical teams and procurement plans to support the drilling schedule over the five year horizon. The programme will test the company's ability to deliver complex offshore projects at scale.

Related Stories

Gold Stories

Next Story
Equipment

Terex to Acquire Keestrack, Expanding Crushing Portfolio

Terex Corporation has signed a definitive agreement to acquire Keestrack, a manufacturer of mobile crushing, screening and related equipment for the aggregates, recycling, construction and demolition industries. Financial terms were not disclosed.Founded in Belgium in 1988, Keestrack serves customers in more than 65 countries through a network of over 70 distributors. The acquisition will expand Terex Materials Processing’s crushing and screening portfolio and add manufacturing and distribution capabilities.After completion, Keestrack will continue as an independent brand within the Terex Ma..

Next Story
Infrastructure Energy

IES Taskforce Reviews Final Report on Power-Sector Digital Platform

The India Energy Stack (IES) Taskforce has reviewed its Final Report in New Delhi. The document sets out a strategy, architecture, governance framework and pathway to scale IES as digital public infrastructure for India’s power sector. The Ministry of Power constituted the Taskforce in June 2025.The report was presented by Prince Dhawan, Executive Director, REC Limited, and Swetha Ravi Kumar, Executive Director, FSR Global. Dr Ram Sewak Sharma, Chairperson of the Taskforce, outlined the way forward.IES is a common set of open standards and protocols designed to let utilities, regulators, mar..

Next Story
Infrastructure Urban

LANXESS, HINCOL Partner on Road Construction Technologies

LANXESS India and Hindustan Colas Private Limited (HINCOL) have signed a Memorandum of Understanding to assess technical and commercial opportunities in bitumen and asphalt modification for India’s infrastructure market.The companies will conduct laboratory and commercial-scale evaluations of Addipave CR 36, LANXESS’ cross-linking technology for polymer-modified bitumen (PMB). LANXESS will provide the product, technical expertise and trial support, while HINCOL will contribute testing facilities, operational support and performance assessments under local conditions. The trials will examin..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code