New Delhi: The Union Cabinet approved the Samudra Manthan scheme with an outlay of ₹84,084 crore. The initiative aims to boost offshore oil and gas exploration and strengthen India’s energy security.
Prime Minister Narendra Modi chaired the Cabinet meeting. The Ministry of Petroleum and Natural Gas will implement the Central Sector Scheme until 2030-31.
The government said the scheme fulfils the Prime Minister’s vision of a modern-day Samudra Manthan. It seeks to unlock India’s offshore energy resources. It also aims to increase domestic exploration, raise production and support the Viksit Bharat vision.
The Samudra Manthan scheme includes seismic surveys across offshore areas. It also supports deepwater and ultra-deepwater drilling. The plan covers scientific drilling in frontier basins and new offshore production infrastructure.
Samudra Manthan scheme expands offshore exploration
The scheme will establish an integrated Oil and Gas Manufacturing and Services Zone. It also supports digital programme management, technology adoption and capacity building. In addition, it promotes stakeholder engagement and international cooperation.
The government expects the scheme to add more than 600 million metric tons of oil equivalent to India’s reserves. It also expects higher domestic oil and gas production. The initiative will generate jobs and strengthen manufacturing under Make in India and Atmanirbhar Bharat.
The scheme will encourage fresh investment across the exploration and production sector. It will also support innovation and build a competitive offshore technology ecosystem.
The government said the programme builds on upstream reforms introduced during the past decade. Those reforms opened more offshore areas for exploration. They also modernised laws, updated contracts and strengthened the National Data Repository.
