India makes big push for oil and gas exploration in Andaman deep water basin

India is making a big push for oil and gas exploration in Andaman deep water basin with the government planning to fund an ONGC-led drilling campaign and easing clearances, according to people familiar with the matter. Increasing exploration at a break-neck speed is at the center of the government's plan to raise domestic production of oil and gas and cut imports at a time when high fuel prices are tormenting consumers. ONGC NSE -2.40 % plans to launch the drilling campaign in the Andaman offshore after the monsoon and is currently engaged in talks with ExxonMobil and Shell to involve them in the project, they said. ONGC is expected to drill 3-4 wells under the special program funded by the government in the Andaman Sea, with each well costing about Rs 350-400 crore, they added.gt