2 days ago
BP Evaluates Indian Deepwater Blocks Under Samudra Manthan
BP is a large energy company that works in India’s oil and gas industry.
It is considering exploring new deepwater areas under a government programme called Samudra Manthan.
The programme is intended to encourage companies to search for oil and gas in difficult offshore locations.
BP is particularly interested in the Krishna-Godavari, Mahanadi and Saurashtra basins.
Deepwater exploration can be expensive, risky and slow.
BP says sharing some of the risks and building common infrastructure could make projects easier.
The company already works with Reliance Industries and ONGC in India.
It also provides technical services to ONGC.
BP says India could attract more global investment by improving rules, taxes and gas-market policies.
BP is evaluating deepwater blocks under India’s OALP-X licensing round.
The Samudra Manthan programme involves proposed public investment of Rs 84,084 crore.
BP identifies the Krishna-Godavari, Mahanadi and Saurashtra basins as areas of interest.
BP says risk-sharing, shared infrastructure and policy reforms could attract more exploration investment.
BP’s partnerships with Reliance Industries and ONGC cover upstream production, exploration and technical services.
- Who
- BP India, led by chairman Kartikeya Dube, along with its partners Reliance Industries and the Oil and Natural Gas Corporation (ONGC).
- What
- BP is evaluating new deepwater exploration opportunities under the OALP-X bidding round and discussing how Samudra Manthan could increase investment.
- Where
- India’s offshore areas, including the Krishna-Godavari, Mahanadi, Saurashtra and Western Offshore basins.
- When
- The interview references BP’s February 2025 appointment for Mumbai High, joint activity from April to July 2025, and a June 25, 2026 expansion of its ONGC technical-services role.
- Why
- To expand domestic oil and gas exploration, attract global capital and technology, and strengthen India’s energy security.
Key facts
- Samudra Manthan value
- Rs 84,084 crore
- BP’s domestic gas involvement
- Nearly 60% of India’s domestic gas production, according to the article
- OALP round
- BP is evaluating deepwater opportunities under OALP-X
- BP’s areas of interest
- Krishna-Godavari, Mahanadi and Saurashtra basins
- India’s production goal
- Increase annual domestic oil and gas production from around 62 MMTOE to 80 MMTOE
- ONGC technical-services expansion
- BP was appointed technical services provider for ONGC’s Western Offshore Basin, covering 43 blocks, on June 25, 2026
- Policy measures proposed
- Gas-market deregulation, lower IGST on petroleum operations, and bringing natural gas and aviation turbine fuel under GST
Quotes
Kartikeya Dube
Chairman of BP India
“Samudra Manthan recognizes a simple reality: India’s deepwater resources represent one of the largest remaining opportunities to strengthen domestic energy capability.”
financialexpress.com
Sources
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