India needs to strengthen domestic oil exploration: Official
Majumder cites recent disruptions around the Strait of Hormuz as an example of how instability in one part of the world can pose a wider threat to global energy security
India must bolster its domestic oil exploration and technological prowess to ensure energy security amid escalating geopolitical tensions and disruptions to global supply chains, a senior Oil India Limited official has cautioned. At the Shillong curtain raiser of India Energy Week 2027, Oil India Limited Director (Finance) Abhijit Majumder emphasized the global energy sector's pivotal juncture, citing demographic shifts, rising energy demand, geopolitical tensions, and economic growth as catalysts for heightened energy security concerns.
He underscored the immediate repercussions of supply chain and energy corridor disruptions on worldwide energy flows, prices, and economies, citing the recent Strait of Hormuz disturbances as a case in point. Majumder also spotlighted India's offshore and deep-water energy reserves, asserting that enhanced data, advanced technology, risk-sharing arrangements, and infrastructure could unlock these resources.
He referenced the National Offshore Exploration Scheme, Samudra Manthan, as a means to expand India's exploration capabilities and bolster domestic energy supplies. The 2026 edition of India Energy Week drew over 75,000 participants, 700 exhibitors from various countries, underscoring the platform's growing significance. The Shillong program was co-located with a Kolkata curtain raiser, attended by Petroleum and Natural Gas Minister Hardeep Singh Puri, marking the inaugural step towards the 2027 IEW, which will convene global energy sector stakeholders to deliberate on energy security, technological advancements, and evolving energy demand patterns.
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