India has begun deep offshore exploration in the Andaman Basin-once a "no-go" zone now opened under OALP, by drilling the Vijaya Puram-1 well using the Blackford Dolphin rig.The basin's total hydrocarbon-in-place is estimated at72 MMTOE, with ~70 MMTOE still untapped. State-run giants Oil India and ONGC are leading the push, with plans underway for multiple shallow- and deep-water wells. Officials believe this discovery could significantly reduce India's heavy reliance (88%) on crude imports. The government's 2024 regulatory overhaul aims to attract global investment and boost energy security, positioning the country for a possible "liquid gold" Russia/Guyana-level breakthrough . Key Benefits • Major step toward energy self-reliance 1 Could slash crude import bills Es Investment magnet: foreign firms like ExxonMobil & Shell in play Estimated 70 MMTOE reservoir could be India's next Mumbai High