India Must Bolster Domestic Oil Exploration Amid Rising Global Tensions

India's oil exploration efforts must be strengthened to ensure energy security in the face of increasing geopolitical tensions and disruptions to global supply chains, according to Abhijit Majumder, Director (Finance) at Oil India Limited. Speaking at the Shillong curtain raiser for the 2027 India Energy Week, Majumder noted that the global energy industry is at a turning point due to demographic growth, rising energy demand, and economic development.

Disruptions to global supply chains can have an immediate impact on energy flows, prices, and economies worldwide. 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.

India has significant potential for offshore and deep-water oil exploration, which could be unlocked with better data, modern technology, risk-sharing mechanisms, and infrastructure. The National Offshore Exploration Scheme, Samudra Manthan, is an initiative that could play an important role in expanding India's exploration capabilities and strengthening domestic energy supplies.