Oil and Natural Gas Corporation (ONGC) has announced significant new oil and gas discoveries in the Mumbai Offshore basin, adding fresh momentum to India’s domestic energy exploration efforts.
The discoveries, named Suryamani and Vajramani, were made in offshore blocks awarded under the Open Acreage Licensing Policy (OALP) — a strategic initiative by the Indian government to boost hydrocarbon exploration and reduce import dependency.
Where Were the Discoveries Made?
- Suryamani is located in OALP-VI Block MB-OSHP-2020/2
- Vajramani is located in OALP-III Block MB-OSHP-2018/1
Both blocks lie within the Mumbai Offshore basin, one of India’s most productive and historically important offshore zones.
What This Means for India’s Energy Sector
These fresh discoveries are seen as highly promising and could boost domestic oil and gas output in the coming years. As India continues to prioritize energy security and self-reliance, new reserves like Suryamani and Vajramani could play a critical role in reducing dependency on imported hydrocarbons.
Moreover, these finds underline the success of the OALP regime, which allows companies to choose exploration blocks without waiting for formal bidding rounds — a major shift from previous licensing methods.
Industry Impact
ONGC’s latest offshore success builds on its legacy of pioneering India’s energy sector and further demonstrates its technical expertise in deepwater and shallow offshore operations. As the company prepares to move forward with appraisal and development plans, the industry will be watching closely for production timelines and volume potential.
