The Economic Times

Oil India to invest Rs 15,000 crore over three years in deepwater exploration, eyes eight wells

Oil India plans to invest approximately fifteen thousand crore rupees in deepwater exploration over three years. The company intends to drill eight wells, contingent on seismic data interpretation for identifying prospects. The government is actively promoting deepwater exploration and offering financial support for drilling costs. Oil India will partner with foreign firms for upcoming exploration licensing rounds. Current global market conditions encourage companies to invest in exploration activities.