The Government of India has approved the Samudra Manthan scheme a national offshore exploration and production scheme. It is India’s largest offshore hydrocarbon exploration programme. It is a central sector scheme and the government approved the ₹84,084 crore outlay for scheme under the Ministry of Petroleum and Natural Gas(MoPNG). The scheme will be implemented till 2030-32.
The initiative is aimed at increasing offshore exploration for oil and natural gas across India’s coastal and basin. It focuses on advanced exploration through improved geopolitical mapping and promoting investment in upstream petroleum sector.
Reduce India's dependency on imported fossil fuels and strengthen countries oil and natural gas security. The Union Cabinet has approved ₹84,084 crore budget for the implementation of the Samudra Manthan Scheme through FY 2030-31.
What is Samudra Manthan Scheme and its objectives?
It is an initiative of the Government of India to increase offshore exploration for oil and natural gas. It aims to find new hydrocarbon reserves in India's offshore areas through surveys, modern drilling techniques and advanced exploration technologies.
The scheme aims to increase domestic production of oil and natural gas by exploring offshore resources. It also focuses on creating an environment for investments in India's upstream petroleum sector.
It will be used to support offshore exploration activities such as seismic surveys, geological studies, drilling operations, resource assessment and the adoption of advanced exploration technologies.
India is the world’s third largest consumer and importer of oil. Around 85% of the country's crude oil requirement is fulfilled through imports. The scheme has been introduced to strengthen domestic exploration, reduce import dependence, and ensure a stable and secure energy supply for the future.
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Key Features of the Scheme
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Total financial outlay of ₹84,084 crore.
Implementation till FY 2030-31.
Largest offshore exploration initiative launched by India.
Focus on unexplored and underexplored offshore sedimentary basins of India.
Promotion of modern seismic surveys and deep-sea exploration technologies.
Expected participation from both public and private sector companies.
Why is Offshore Exploration Important?
Offshore exploration involves searching for oil and natural gas deposits beneath the seaed of India to support domestic energy consumption and production . India has many offshore sedimentary basins along its eastern and western coasts.
Large scale exploration projects will also generate employment, investment and new business opportunities in energy sector.
The initiative also encourage participation from domestic and international energy companies through policy support and exploration opportunities. It will help create a sustainable exploration ecosystem capable of meeting India's future energy requirements.