India Launches Ambitious Plan to Tap New Oil Reserves Beneath the Sea
The Indian government has approved an ambitious plan to explore new oil and gas reserves beneath the sea. The ₹84,084-crore Samudra Manthan scheme aims to reverse years of declining domestic production and reduce India's dependence on imported crude oil.
Named after a mythical churning of the ocean, the program takes its cue from Prime Minister Narendra Modi's Independence Day speech in 2025. The government will spend ₹28,534 crore on modern seismic surveys, ₹43,200 crore on drilling deepwater exploration wells, and ₹10,000 crore on common offshore infrastructure.
India's appetite for energy has grown rapidly over the past decade, but domestic crude oil production has declined. The country's dependence on imported oil has increased from 78.5% in 2014-15 to 88.7% in 2025-26.