India’s $100 Billion Oil and Gas Boom by 2030
India is poised for a
$100 billion opportunity in oil and gas exploration by 2030, says Oil Minister
Hardeep Singh Puri. At the Urja Varta conference, Puri stressed the need to cut
dependence on oil imports—over 85% of India's needs—by ramping up exploration
and production (E&P). With only 10% of sedimentary basins explored, this is
set to increase to 16% by the end of 2024. India’s sedimentary basins contain
651.8 million tonnes of crude oil and 1138.6 billion cubic meters of natural
gas. The government is pushing reforms to boost investments and expand
exploration acreage to 1 million sq. km. by 2030. A new Joint Working Group
will tackle industry challenges and enhance business conditions in E&P.
Current Issue
12-2025
