📈 ONGC Launches First Deepwater Exploration Well Off Odisha Coast

• Project Overview: Oil and Natural Gas Corporation (ONGC) has begun drilling its first deepwater exploratory well, MN-DW18-1-H-D, in the Mahanadi offshore basin, located ~23 nautical miles from the Konark discovery off Odisha. • Strategic Context: Launched under the Samudra Manthan Campaign, the initiative follows the Centre opening ~1 million sq km of restricted offshore space for oil & gas exploration under the Open Acreage Licensing Policy (OALP). • Resource Estimates: India’s eastern and western offshore basins (depths up to 3,000m) are projected to contain over 5,600 million tonnes of oil equivalent (MTOE) in hydrocarbon potential. • Technical & Economic Impact: Supported by ONGC’s new Deepwater Exploration Mission Centre (DeepX) in Mumbai, the project aims to scale domestic production, mitigate import dependence, and build long-term energy security.