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10 INDIA'S HYDROCARBON OUTLOOK 2024-2025

1 1.1 Seeds of Exploration

The Genesis of Oil in India (1828–1889)

India’s oil journey began in Assam, where early
observations of oil seepages by British geologists
led to Asia’s first mechanically drilled well at
Makum in 1867. Though shallow, this success
Evolution of marked India’s formal entry into petroleum
exploration.

Oil and Gas 1.2 Emergence of Commercial
Exploration (1889–1937)
Exploration in The Assam Railways and Trading Company

struck oil at Digboi in 1889, leading to the
India creation of the Assam Oil Company (AOC) in
1899. The Digboi refinery, operational since 1901,
remains the world’s oldest active refinery. By the
early 20th century, the Burma Oil Company had
acquired major upstream interests in the region,
while Tata Engineering drilled India’s early gas
wells in Gujarat. A geophysical survey in 1937
at Naharkatiya marked the advent of seismic
exploration.

1.3 National Awakening and Strategic
Realignment (1947–1955)
Following independence, India prioritized
domestic energy security. The 1948 Industrial
Policy emphasized the role of hydrocarbons in
industrial growth. The Geological Survey of India
(GSI) resumed surveys, leading to the discoveries
of Naharkatiya (1953) and Moran (1956) by AOC.
The Government initiated partnerships with
foreign experts, including support from the
USSR, to build domestic E&P capabilities under
the Second Five-Year Plan.