October 30, 2026: Drilling accounts for only part of the investment in deepwater exploration, Oil and Natural Gas Corporation (ONGC) Chairman Arun Kumar Singh said at the 29th Energy Technology & Innovation Meet (ETM 2026) in Goa. Well completion often involves even greater costs, he said, according to a post by ONGC on X on Wednesday.

Singh made the point at a plenary session titled "Samudra Manthan Mission: Strategy, Policy and Enabling Framework." According to ONGC, he spoke about both the potential and the complex economics of deepwater exploration. Unlocking India's offshore hydrocarbon resources would need progressive exploration policies, commercial viability and a collaborative approach, he said.

(Source: PSU watch)