Deep Sea Mining

At ONGC’s August 2026 AGM, Chairman A.K. Singh said the company will invest about ₹1 lakh crore in cash over five years to drill 87 deepwater wells by March 2031, roughly ₹20,000 crore a year. They’ll start slow with just four wells in FY26, but plan to crank it up to 27 in the final year. Singh didn’t mince words about why they’re in such a mad dash, either: India’s crude output has been sliding downhill for eleven straight years.