India commits $8.8bn to boost offshore oil and gas

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India has approved an $8.8 billion investment plan to accelerate offshore oil and gas exploration under the National Offshore Exploration Scheme, aiming to add over 600 million tonnes of discoverable oil by 2030-31.

India has approved an investment programme worth up to 840.84bn rupees ($8.8bn) to accelerate offshore oil and gas exploration over the next five years. The National Offshore Exploration Scheme will run until the end of the 2030-31 financial year and is expected to speed up the addition of more than 600m tonnes of discoverable oil …