India Unlocks Offshore Energy Potential with ₹84,000 Crore Samudra Manthan Scheme

India's Samudra Manthan scheme is a ₹84,084 crore initiative aimed at unlocking hydrocarbon reserves across its offshore sedimentary basins. The government hopes to address the country's growing energy needs and reduce dependence on imports.

The scheme has been in the works since FY2026 and will run through FY2030-31. It includes several integrated pillars, such as large-scale seismic surveys, deepwater and ultra-deepwater drilling, scientific drilling in frontier basins, common offshore infrastructure, and digital program management.

The Samudra Manthan scheme is expected to deliver annual savings of approximately ₹1 lakh crore by reducing India's dependence on imported hydrocarbons. This projection is based on a current annual import expenditure of around $150 billion on crude oil and natural gas.

The government's goal is ambitious, targeting the addition of over 600 million metric tonnes of oil equivalent (MMTOE) in reserves. This would nearly double India's proved reserve base over time and contribute significantly to domestic supply security.