India On the Verge of Massive Oil Discovery at Andaman That Could Make Us $20 Trillion Economy: Hardeep Puri
India is on the verge of a ground-breaking oil discovery in the Andaman Sea, potentially holding 184,440 crore litres (2 lakh crore litres) of crude oil—a find comparable to Guyana’s massive reserves—that could propel the nation toward a $20 trillion economy, says Union Petroleum Minister Hardeep Singh Puri.
Andaman Oil Reserves: A Potential Game-Changer
In an exclusive interview with The New Indian, Puri revealed that India’s aggressive exploration efforts and policy reforms are paving the way for a major oil discovery in the Andaman region. He compared the potential find to Guyana’s 11.6 billion-barrel discovery, which transformed the South American nation into a global energy player.
“It’s only a matter of time before we find a big Guyana in the Andaman Sea,” Puri stated, citing recent exploratory successes. “When I spoke about the Krishna Godavari Basin earlier, that was one location. Now, we’re seeing green shoots—oil and gas—in multiple areas.”
High Stakes, High Costs: ONGC’s Record Drilling Efforts
Exploration in deep-sea regions is expensive and risky, but the rewards could be monumental. Puri noted that in Guyana, oil was found only after drilling 47 wells, each costing $100 million. Similarly, India’s Oil and Natural Gas Corporation (ONGC) has ramped up efforts, drilling 541 wells in FY24—the highest in 37 years—with a record ₹37,000 crore investment in capital expenditure.
Reducing India’s Oil Import Dependency
Currently, India imports over 85% of its crude oil, making it the third-largest oil importer globally after the US and China. A major Andaman discovery could drastically cut import reliance, enhance energy security, and boost economic growth.
Strategic Exploration: From KG Basin to Andaman
While India’s current oil production is concentrated in Assam, Gujarat, Rajasthan, Mumbai High, and the Krishna-Godavari Basin, exploration is expanding to the Andaman and Nicobar Islands, where ONGC and Oil India are conducting surveys.
Puri highlighted recent exploratory successes:
- Surya Mani (OALP Round 6): Drilled at 2,323 metres, estimated 4 million metric tonnes of oil equivalent.
- Neel Mani (OALP Round 5): Drilled at 1,117 metres, 1.2 million metric tonnes.
- 2025–26 Well (OALP Round 3): At 2,865 metres, shows both oil and gas.
- Moti Well (OALP Round 3, 2023–24): At 2,957 metres, revealed 5 million metric tonnes of oil and gas equivalent.
Additionally, four wells are being drilled at 5,000 metres depths, signaling India’s commitment to unlocking deep-sea reserves.
Global Partnerships and Future Prospects
Puri emphasized the need for international technical expertise and investment, acknowledging past corporate reluctance due to high costs. However, with rising exploration momentum, India could soon join the league of major oil producers.
“Even a 5-billion-barrel discovery would be a game-changer,” he said, cautioning against premature conclusions but expressing optimism over the growing evidence of substantial reserves.
Watch the video of his interview here:
Conclusion: A New Era for India’s Energy Independence?
If the Andaman exploration succeeds, India could witness an economic revolution, reducing its import burden and strengthening its position in the global energy market. While full-scale production may take years, the potential discovery marks a pivotal moment in India’s energy journey.
