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Business News›Industry›Energy›Oil & Gas›India needs to strengthen domestic oil exploration, official says

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India needs to strengthen domestic oil exploration, official says
Synopsis

India is urged to strengthen its domestic oil exploration capabilities to improve energy security as global tensions rise. Oil India Limited emphasizes the importance of technological advancements and better infrastructure for energy resources. The upcoming India Energy Week 2027 aims to unite global stakeholders to address energy security issues. Recent global disruptions have highlighted the need for robust energy supply mechanisms.

ANI

Shillong: India must strengthen domestic oil exploration and technological capabilities to safeguard its energy security at a time when geopolitical tensions and disruptions to global supply chains are increasingly affecting energy flows and prices, a senior Oil India Limited (OIL) official has said.



Speaking at the Shillong curtain raiser of India Energy Week (IEW) 2027 on Monday, Oil India Limited Director (Finance) Abhijit Majumder said the global energy industry was "at a turning point", with demographic growth, rising energy demand, geopolitical tensions and economic development putting increasing pressure on energy security.



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"Disruptions to global supply chains and major energy corridors can have an immediate impact on energy flows, prices and economies worldwide," he said.



Majumder cited recent disruptions around the Strait of Hormuz as an example of how instability in one part of the world can pose a wider threat to global energy security.




He also highlighted the potential of India's offshore and deep-water energy resources, saying better data, modern technology, risk-sharing mechanisms and infrastructure could help unlock them.

Referring to the National Offshore Exploration Scheme, Samudra Manthan, Majumder said such initiatives could play an important role in expanding India's exploration capabilities and strengthening domestic energy supplies.

"India Energy Week has emerged as a major global platform connecting policymakers, industry leaders, technology providers and investors to chart the way forward for the energy sector," he said.



Also read: Russian crude supplies enabled India to cushion against oil supply shocks caused by West Asian war: Deputy FM



The 2026 edition of IEW attracted more than 75,000 attendees, 700 exhibiting companies and delegates from over 120 countries, reflecting the growing scale of the platform.



The Shillong programme was held alongside the curtain raiser in Kolkata, which was attended by Union Minister for Petroleum and Natural Gas Hardeep Singh Puri.



The Shillong curtain raiser marks the first step towards IEW 2027, which will bring together stakeholders from across the global energy ecosystem to discuss energy security, technological innovation and changing patterns of future energy demand, organisers said.

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