Page 44 - Policy Economic Report - April 2026

POLICY AND ECONOMIC REPORT
OIL & GAS MARKET

Key Policy developments/Significant news in Energy sector

MoP&NG organizes Data Driven Exploration Conference under Samudra Manthan to strengthen India’s
exploration ecosystem

A conference on “Data Driven Exploration” was convened by the Directorate General of Hydrocarbons
(DGH) in the context of India’s expanding exploration agenda under the Samudra Manthan – National
Offshore Mission, to engage industry on accelerating India’s exploration outcomes through a stronger
data ecosystem.

The conference was chaired by the Secretary, M/o Petroleum & Natural Gas, and witnessed participation
by over 80 participants including M/o PNG, DGH, national oil companies, global Exploration & Production
(E&P) players (BP, ExxonMobil, Shell, etc.), private operators (Reliance Industries, Cairn India, Invenire
Energy, Adani Welspun Exploration), and leading seismic service providers and technology players (TGS,
Viridien, Shearwater GeoServices, SLB, Wave Geo Services). With a renewed focus on offshore and frontier
basin development, the conference aimed to engage industry stakeholders on the role of seismic data in
enabling exploration outcomes.

In his posts on social media platform X, the Minister for Petroleum and Natural Gas, Shri Hardeep Singh
Puri highlighted that the India is moving beyond blind exploration and is embracing a bold multi-client
model that allows more minds to interpret, innovate, and discover, thereby decisively changing how E&P
has been considered a sector of uncertainty.

He further added that with SamudraManthan, India’s vast offshore potential is being unlocked with
openness, collaboration, and cutting-edge science to fulfil our quest towards energy Aatmanirbharta.

Key takeaways from the conference:

Data as the Primary Enabler:

• There was clear industry consensus that availability, quality, and accessibility of seismic data
directly determine exploration outcomes.

• Participants highlighted that gaps in data coverage, particularly in frontier and deepwater basins,
continue to constrain basin prospectivity, investment inflow, and exploration intensity.

• Significant value can be unlocked through reprocessing and reinterpretation of legacy datasets,
leveraging advancements in imaging technologies and AI-driven interpretation.

Need to Accelerate Data Acquisition:

• Participants emphasized the need for targeted and accelerated seismic acquisition, aligned with
upcoming licensing rounds. Global experience indicates that early-stage data densification
materially improves participation and investment outcomes.

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