Critics and environmental analysts have raised concerns regarding the long-term wisdom of pouring ₹84,000 crore into fossil fuel exploration at a time when the global energy transition is accelerating. Skeptics argue that the high cost of deep-sea drilling—often exceeding ₹1,000 crore per well—represents a massive fiscal gamble. Given that many exploratory wells do not result in commercially viable discoveries, there is a significant risk that a large portion of this taxpayer-funded budget could be written off without providing any tangible improvement to India's energy security.
Beyond the financial uncertainty, there are pressing environmental and safety concerns associated with ultra-deepwater drilling. Operating in extreme depths, such as 1,500 meters or more, increases the risk of catastrophic accidents, which could have devastating impacts on marine ecosystems and coastal livelihoods. Critics suggest that these funds would be better utilized by accelerating the transition to renewable energy sources, such as solar or wind, which offer a more sustainable and predictable path toward energy independence without the inherent risks of deep-sea hydrocarbon extraction.
Accountability advocates also point out that the government is essentially socializing the risks of exploration while private companies stand to reap the rewards if a discovery is made. There is a concern that this model could lead to inefficient capital allocation, where the focus remains on finding more oil rather than optimizing energy efficiency or investing in cleaner technologies. As the world moves toward decarbonization, critics warn that these deep-sea assets risk becoming 'stranded' in the future, leaving the nation with expensive, obsolete infrastructure and a missed opportunity to lead in the green energy revolution.