Another oil field discovered off Mumbai's shore

The reserve was found between Bombay High and Bassein offshore areas, raising hopes of a transformation in India’s energy sources

- HT Correspondent

India’s reliance on imports for much of its crude oil requirements has landed the country in the cross-hairs of US President Donald Trump, who has penalised the country with tariffs of 25% for its trade with Russia, over and above a previous 25% levy.

But more than 50 years ago, hopes of cutting this dependence on imported oil received a fillip when explorers discovered oil reserves at Bombay High in 1974, 160km off the west coast of India’s financial capital, Mumbai.

In August 1976, Hindustan Times wrote about the announcement of a subsequent discovery two years later in an adjoining area in Bassein and detailed exploration and production plans for the country that, at the time, raised hopes of a transformation in India’s energy sources.

“Petroleum minister KD Malaviya on Wednesday announced that oil had been discovered on a ‘fault’ structure between the offshore areas of Bombay High and Bassein,” HT wrote on its front page on August 3, 1976.

“While commercial exploitation of oil has already begun in Bombay High, production is likely to commence in Bassein from next year. Mr Malaviya told the Ministry's Parliamentary Consultative Committee that the discovery of yet another offshore oil source had brightened the prospects of finding more oil and gas in the country.”

“After Bombay High, oil had been found on the north Bassein followed by a gas strike on the Bassein south structure. Now that oil had been found in the “fault” structure lying east of Bombay High, it was reasonable to assume, Mr Malaviya hoped, that 'the pools of oil around Bombay High might be stretching for quite a long distance.”