SEPTEMBER 20258INDIA TO LAUNCH 3,200 CRORE OFFSHORE STRATIGRAPHIC DRILLINGPM MODI LAUNCHES 45,000 CR MAHI-BANSWARA NUCLEAR PROJECTONGC and Oil India Ltd (OIL), the state-operated oil explorers, are preparing for a 3,200 crore stratigraphic drilling initiative in unexplored offshore basins, which will begin in early 2026. This represents a larger push by India to enhance domestic hydrocarbon production and reduce expensive imports of hydrocarbons.The plan is to drill a total of four wells in the first phase - across the Andaman, Mahanadi, Saurashtra and Bengal basins. BP, a global energy behemoth, will provide On September 25, Prime Minister Narendra Modi will travel to Banswara, Rajasthan, to perform the foundation stone laying ceremony of the Mahi-Banswara Nuclear Power Plant, a landmark project that will help enhance India's clean energy capacity.This will occur on the birth anniversary of Pandit Deendayal Upadhyaya, which bestows both symbolic and multidimensional strategic importance to the project.technical assistance including site selection and drilling coordination. Unlike production wells, stratigraphic drilling aims to recover geological data through coring, logging and integration prospecting to assess the economic potential of hydrocarbon deposits.It was confirmed that the project cost, including BP's costs, will be absorbed by the government. The offshore blocks are still under the jurisdiction of the government, while the process of monetising any recoverable hydrocarbons through auctions or nominations is yet to be established. Industry associates expect BP to request a first right of refusal when any economic development is consummated, but no formal request has been made to this effect at this time.India is importing 88 percent of its oil and almost half of its gas, contributing to an annual import bill of roughly $150 billion. To improve energy security the government opened 99 percent of the previously "no-go" offshore areas, developed new price standards for gas to permit deepwater projects to proceed, and installed a streamlined permitting regime for all hydrocarbons.Powered by the reforms and the data availability with the National Data Repository, India is now attempting to attract exploration commitments from companies while making a significant move in decreasing energy imports dependence. The future nuclear power plant includes a 45,000 crore investment and is part of the larger clean energy and infrastructure package for Rajasthan worth 1.21 lakh crore. The plant once completed will dramatically increase India's atomic energy base and will generate reliable and sustainable electricity to meet India's rapidly increasing electricity demand. According to industry observers, the project reflects India's long-term vision regarding energy security and self-reliance.Rajasthan Chief Minister Bhajanlal Sharma has called the plant a historic achievement for the state's energy sector, while BJP State President Madan Rathore specified it was an important milestone in India's atomic power journey.In addition to the foundation stone ceremony, the Prime Minister will dedicate clean energy projects to the nation and flag-off Vande Bharat Express trains which will run on the Bikaner­Delhi route and other corridors, giving the region added forward momentum and connectivity.To encourage participation from the public, the entire program will be live-streamed throughout the districts, municipal bodies, and gram panchayats of Rajasthan. With this unprecedented effort, Rajasthan will be a central hub for the expansion of nuclear and clean energy, while giving India the desired growth and sustainability efforts. TOP STORIESTOP STORIESTOP STORIES
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