Oil India Expands Offshore Exploration in Mahanadi and Kerala-Konkan Basins
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- Developments
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- Repetition
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New informationRepeats or wire copies
What happened
Oil India acquired operational blocks in the Mahanadi Basin as part of its national mission. Separately, Oil and Natural Gas Corporation announced encouraging natural gas finds in the deep waters of the Mahanadi Offshore Basin.
Why it matters
The discoveries have been hailed as a milestone for India's energy security and the economy of Odisha. Oil India has committed Rs 15,000 crore over the next three years for deepwater and ultra-deepwater exploration under the Samudra Manthan program.
An oil field near Kolkata and Ashoknagar holds reserves critical for national energy security.
Who's involved
- Oil IndiaAcquired blocks and committed Rs 15,000 crore for deepwater exploration.
- Oil and Natural Gas CorporationDiscovered significant natural gas in the deep waters of the Mahanadi Offshore Basin.
- MahanadiThe location of the newly acquired and discovered offshore blocks.
Who could feel it
Possible knock-on effectsThese are possibilities Brind reasoned out, not predictions, and not advice. Most are not stated in any report.
- Oil and Natural Gas CorporationSpeculative
Oil and Natural Gas Corporation might see its core business strengthened by successful deepwater exploration.
- IndiaSpeculative
India could see its national energy security reinforced by the discovery of new resource bases.
- OdishaSpeculative
Odisha may see its economy benefit from oil exploration and resource development in the Mahanadi Basin.
How it developed
Newest first. Tap a step to see who reported it.ONGC discovered encouraging oil/gas finds in the Mahanadi Basin.1 source
Oil India acquires blocks in the Mahanadi Basin as part of its national mission.1 source
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The entities involved
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Oil India
Indian hydrocarbon exploration and production company
Nothing else this week.
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Mahanadi
river in Odisha, India
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Kerala
Indian state