India Launches Ambitious Deep Water Exploration to Boost Energy Security
Prime Minister Narendra Modi inaugurated the National Deep Water Exploration Mission, aiming to double India's National Reserve by 2032 and triple production by 2047. Union Petroleum Minister Hardeep Singh Puri emphasized reducing energy imports and advancing self-reliance through domestic oil and gas exploration under the initiative unveiled from the Red Fort.
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In a historic address from the Red Fort, Prime Minister Narendra Modi announced the launch of the National Deep Water Exploration Mission, a strategic initiative aimed at transforming India's energy landscape. Union Petroleum Minister Hardeep Singh Puri underscored the mission's potential to enhance energy security by boosting domestic oil and gas production.
According to Minister Puri, who took to social media platform X to share insights, the deep water exploration mission is pivotal in reducing India's reliance on energy imports. The mission, dubbed a 'Samudra Manthan' or 'Churning of the Ocean,' aims to double the National Reserve by 2032 and triple current production levels by 2047.
The government has implemented several reforms, including the ORD Amendment Act, to support this endeavor. Puri highlighted significant advancements in hydrocarbon exploration, with 52 discoveries over the last five years and expansion of exploration acreage from 82,327 sq km to over 0.38 million sq km since 2014.
(With inputs from agencies.)
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