The Mission Anveshan scheme, starting in FY25, may extend into FY27. This initiative incentivizes ONGC and Oil India Ltd to conduct seismic data acquisition, processing, and interpretation for oil and gas reserves. The scheme was launched as a continuation of the National Seismic Programme, focusing on India’s sedimentary basins.
The budget for the mission, approved for two years, allocated ₹720 crore for conducting 2D seismic surveys over 20,275 line-kilometers in seven sedimentary basins. Moving forward, there is a plan to emphasize more accurate 3D surveys.
Oil India has commenced gathering seismic data in Rajasthan and Ganga-Punjab basins, while ONGC’s progress was delayed due to contract litigation. ONGC is starting a survey in the Cuddapah area of Andhra Pradesh.
A committee recommended close monitoring of the scheme’s progress to attract global investors for Indian exploration and production sectors. The government aims to reduce import dependence by discovering new hydrocarbon reserves.
In the ninth round of auctions under the Open Acreage Licensing Policy, ONGC secured 15 blocks, Oil India Ltd secured nine, and Vedanta Group’s Cairn Oil & Gas secured seven blocks. ONGC also partnered with Reliance Industries Ltd and bp plc for exploration in the Saurashtra Basin.
India’s focus on domestic oil and gas production aligns with the rising energy demand in the country. Petroleum minister Hardeep Singh Puri highlighted India’s potential to meet 25% of the world’s energy demand growth in the next two decades.
