India Launches Samudra Manthan Scheme to Boost Offshore Energy Exploration
The Indian government has launched the 'Samudra Manthan' (National Offshore Exploration Scheme) to accelerate and de-risk India's offshore hydrocarbon exploration program. The scheme aims to strengthen India's energy security, reduce dependence on imported crude oil, and increase domestic hydrocarbon production.
The program will provide financial support for deepwater and ultra-deepwater exploratory drilling, seismic data acquisition, development of common production infrastructure, and digital governance through a National Data Repository. A total allocation of ₹84,084 crore has been made for the scheme up to FY 2030-31.
The key features of the scheme include strategic support for deepwater and ultra-deepwater drilling, large-scale seismic data acquisition, development of common production infrastructure, oil & gas manufacturing and services zones, and digital governance. The government will finance up to 50% of drilling costs, with financial support reaching ₹650-675 crore per exploratory well.