India Needs Major Hydrocarbon Discoveries To Meet Rising Energy Demand: Petroleum Secy

New Delhi, Oct 28 (KNN) India urgently needs substantial hydrocarbon discoveries to meet its growing energy requirements, Union Petroleum and Natural Gas Secretary Pankaj Jain said on Sunday.

Speaking at the 15th Biennial International Conference of the Society of Petroleum Geophysicists (SPG), Jain stressed the need for bold, time-bound exploration strategies aligned with the National Deepwater Mission to advance India’s goal of energy self-reliance.

"One day, we will be looking at a situation where alternative forms of energy will increasingly matter more for incremental demand satisfaction than fossil fuels," Jain said, underscoring the need to maximise current exploration opportunities, according to PTI.

He emphasised that India’s immediate priority must be to secure significant hydrocarbon finds through accelerated exploration and technological innovation.

ONGC Chairman and CEO Arun Kumar Singh, addressing the same event, said advancements in seismic imaging and artificial intelligence–driven data interpretation would play a pivotal role in future oil and gas discoveries.

Themed ‘Rock to Cloud: Geo-Exploration Empowering Energy Evolution’, the conference brought together geoscientists, policymakers, and industry leaders from India and abroad, including representatives of the Society of Exploration Geophysicists (US), the European Association of Geoscientists and Engineers (Netherlands), and the Australian Society of Exploration Geophysicists.

Oil India Chairman and Managing Director Dr. Ranjit Rath described India as “one of the most promising destinations for exploration,” citing ongoing policy reforms such as the Open Acreage Licensing Policy (OALP) and the Hydrocarbon Exploration and Licensing Policy (HELP).

He urged the geoscience community to remain “restless in pursuit of exploration,” particularly in frontier basins and ultra-deepwater areas.

(KNN Bureau)