Business · Energy & Commodities · 1 day ago
BP is considering bids in India’s oil and gas exploration rounds
India has introduced a policy to encourage more oil and gas exploration, especially in deep water.
BP says it is looking at bidding for exploration blocks under the new rules.
The company says India offers opportunities and terms that appeal to energy firms.
More exploration could help India strengthen its energy security.
BP is actively considering bids in India’s current oil and gas exploration rounds, Chief Executive Meg O’Neill said.
O’Neill said India offers exploration opportunities, attractive fiscal and legal terms, and a government supportive of foreign investment.
The rounds are part of the Samudra Manthan policy, announced by India’s cabinet in July to accelerate deep-water exploration.
The policy has an outlay of around Rs 84,000 crore and aims to improve India’s energy security.
O’Neill credited Prime Minister Narendra Modi and India’s oil minister with reforms intended to encourage exploration and fund infrastructure for developing smaller discoveries.
- Who
- BP, whose chief executive is Meg O’Neill, is considering bidding.
- What
- BP is actively looking at India’s current oil and gas exploration rounds.
- When
- O’Neill said this in an interview published on October 10, 2026. The Samudra Manthan policy was announced in July.
- Where
- India.
- Why
- O’Neill said India has exploration opportunities, attractive fiscal and legal terms, and a government supportive of foreign investment.
This story does not have two clearly opposing sides.
We are actively looking at the current exploration rounds.
Well, with India, we have all of those elements.
I’ll give credit to Prime Minister (Narendra Modi) and the (oil) minister for the Samudra Manthan reforms they have put in place to try to encourage companies to do more exploration and provide funding for infrastructure that’s required to develop some of the small resources that have already been discovered.
India’s cabinet announced the Samudra Manthan policy to accelerate deep-water oil exploration.
The Economic Times published an interview in which BP CEO Meg O’Neill said the company was actively looking at current exploration rounds.
- Company
- BP Plc
- Chief executive
- Meg O’Neill
- Policy
- Samudra Manthan
- Policy outlay
- Around Rs 84,000 crore
- Bidding status
- BP is actively looking at current exploration rounds
Sources
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