INDIA — The Indian government is moving to expand offshore oil and gas exploration through an $8.8-billion initiative aimed at strengthening domestic energy production and reducing the country’s dependence on imported hydrocarbons.

Under Prime Minister Narendra Modi’s Samudra Manthan initiative, the National Offshore Exploration Scheme is expected to encourage greater private-sector participation by providing financial support for deep-sea exploration wells, including subsidies covering part of drilling costs.

The initiative will also make additional offshore areas available for exploration, including locations previously restricted due to national security considerations. Exploration activities could extend across India’s Exclusive Economic Zone, including waters in the Arabian Sea, Bay of Bengal, and around the Andaman Islands.

India remains heavily dependent on imported energy, particularly crude oil and natural gas. Expanding offshore exploration is therefore viewed as part of the country’s broader strategy to identify new domestic reserves, improve energy security, and attract further investment into its offshore energy sector.

The program could also generate additional activity across the maritime industry, including opportunities for offshore vessels, marine service providers, contractors, and ports supporting exploration operations as India advances its offshore development plans.