Vedanta Oil & Gas increased Ravva field production by over 1,000 boepd, unlocking 1.5 million barrels through surface optimisation
The extensions give companies additional time to assess offshore acreage, where exploration typically requires greater upfront capital, sophisticated technology and longer development timelines
The Cabinet recently approved an Rs 84,000 crore scheme to support deepwater exploration through 2030-31
The assessment comes as energy markets contend with disruption around the Strait of Hormuz and the possibility of continued instability in the Red Sea
