Our Bureau
New Delhi
India may be on the verge of a transformative oil and gas discovery in the Andaman region, with Union Petroleum and Natural Gas Minister Hardeep Singh Puri declaring that the country is close to a “Guyana-type” energy breakthrough—a find that could propel India’s economy from $3.7 trillion to as much as $20 trillion if realized.
In recent statements, Puri underscored the government’s aggressive exploration drive and regulatory reforms, which have opened up vast new areas for oil and gas exploration. The Andaman Sea, long considered a frontier for deep-sea drilling, is now the focus of unprecedented activity. “It’s only a matter of time before we find a big Guyana in the Andaman Sea,” Puri said, drawing parallels to Guyana’s 11.6 billion barrel discovery after years of costly and persistent efforts.
The stakes are high. Puri noted that in Guyana, 46 dry wells were drilled before oil was found in the 47th, with each well costing around $100 million. In India, the Oil and Natural Gas Corporation (ONGC) has ramped up drilling to historic levels, with 541 wells drilled in the last fiscal year—the highest in 37 years—and a record ₹37,000 crore invested in capital expenditure. This surge in activity comes as India has made available 1 million square kilometers of previously restricted sedimentary basin for exploration.
Puri’s confidence is bolstered by promising early results from wells such as Suryamani and Neelmani, and the potential for “several Guyanas” in the Indian Ocean region. The government’s push aims not only to reduce India’s heavy reliance on oil imports—currently over 85% of crude oil needs—but also to unlock a $100 billion investment opportunity by 2030 in the exploration and production sector.
The minister’s vision is clear: a major oil discovery in the Andaman could reshape India’s energy landscape, drive economic growth, and secure the nation’s energy future. As exploration intensifies, India stands at the threshold of what could be its own “Guyana moment,” with the potential to vault its economy into the ranks of the world’s largest.
