Hardeep Singh Puri: India Eyes Guyana-Like Oil Discovery in Andaman Basin, Says Union Minister Hardeep Singh Puri

In a significant statement, Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, said India could be on the verge of a game-changing oil discovery similar in scale to Guyana’s breakthrough, where oil was struck only after drilling 46 dry wells.

“We believe India holds the potential of several Guyanas, particularly in the Indian Ocean region,” said Puri during a press interaction. “We’re seeing green shoots — real discoveries in exploratory drilling under the Open Acreage Licensing Policy (OALP).”

Puri shared that recent drilling efforts have begun yielding promising results. Notably:

Surya Mani well (OALP Round 6) drilled at 2,323 meters with an estimated reserve of 4 million metric tonnes of oil equivalent.

Neel Mani well (OALP Round 5) drilled at 1,117 meters, revealing 1.2 million metric tonnes of reserves.

A third well (OALP Round 3), drilled at 2,865 meters, showed signs of both oil and gas.

In 2023–24, the Moti well yielded 5 million metric tonnes of combined oil and gas equivalent.

Currently, four additional wells are being drilled at depths of 5,000 meters by ONGC and Oil India Limited. Puri acknowledged that earlier exploration was slow due to high costs and corporate hesitancy driven by quarterly performance pressure. However, with reforms and increased participation from global technical partners, India’s exploration landscape is rapidly evolving.

A Discovery That Could Change India’s Energy Future

India presently imports 80% of its oil and 50% of its natural gas. Even a 5-billion-barrel discovery, as is being speculated, would significantly reduce this dependence, cut energy costs, and improve national energy security.

Puri cautioned that while these are still exploratory results, the data from OALP is promising. “Let’s not misinterpret exploratory drilling as confirmed discoveries,” he said, “but the indicators are strong, and as we drill deeper, the full potential will emerge.”

The Bigger Picture

India has launched an aggressive push in hydrocarbon exploration:

In FY 2023–24, ONGC drilled a record 541 wells, the highest in 37 years.

Over 1 million sq km of sedimentary basins have been opened up for exploration under OALP.

Focus is now shifting to deep-water exploration in the Andaman and Indian Ocean regions.

Puri concluded by reiterating India’s ambition to become a $20 trillion economy, highlighting that self-sufficiency in energy could be a cornerstone in achieving this vision.