India Unveils $100 Billion Energy Investment Opportunity by 2030

Union Minister Hardeep Singh Puri announced that India offers a $100 billion investment opportunity in energy exploration and production by 2030. Addressing 'Urja Varta 2024' in Delhi, he emphasized tapping into the untapped potential of 26 sedimentary basins, enhancing exploration and using scientific technology.

Union Minister Hardeep Singh Puri announced on Thursday that India offers an investment opportunity of at least $100 billion in energy exploration and production by 2030. The announcement came during the 'Urja Varta 2024' event held at Bharat Mandapam in Delhi, a platform for thoughtful discussions to boost India's exploration and production capabilities.

Puri highlighted the untapped potential within India's 26 sedimentary basins, noting that only 10% is currently under exploration. He stated that this figure will increase to 16% by 2024 with the award of new blocks. 'Despite our progress, much of our exploration potential remains untapped within our 26 sedimentary basins,' he said.

Addressing the role of scientific technology, Puri mentioned the government's significant investment in data-driven exploration, including Rs 7,500 crore towards acquiring new seismic data. 'We are heavily investing in acquiring new seismic data and aerial surveys for challenging terrains,' he added. The government aims to increase India's exploration area to 1 million square kilometres by 2030.