Context: Samudra Manthan offshore exploration scheme
The Union Cabinet has approved the National Offshore Exploration Scheme — Samudra Manthan.
The scheme aims to accelerate offshore oil and gas exploration, strengthen India’s energy security and attract private investment in the upstream petroleum sector.
National Offshore Exploration Scheme — Samudra Manthan
Samudra Manthan is a government scheme to boost offshore hydrocarbon exploration.
It focuses on deepwater exploration, data acquisition and development of common offshore infrastructure.
Nodal Ministry
The nodal ministry is the Ministry of Petroleum and Natural Gas.
Total Outlay
The total outlay is ₹84,084 crore.
Implementation Period
The scheme will be implemented up to FY 2030–31.
Target
The scheme aims to unlock over 600 Million Metric Tonnes of Oil Equivalent reserves.
This is important for increasing domestic oil and gas production.
Key Features
Deepwater Exploration
The scheme supports drilling of 60 deepwater exploration wells.
Government support may cover up to 50% of drilling cost or ₹675 crore per well.
This reduces exploration risk for companies.
Data Acquisition
Around ₹28,534 crore has been allocated for offshore seismic and exploration data generation.
Better data can improve exploration decisions and attract investors.
Infrastructure Development
The scheme also provides for common offshore infrastructure and oil and gas manufacturing and service hubs.
This can support the wider offshore energy value chain.
Significance
Samudra Manthan can improve India’s energy security by increasing domestic hydrocarbon production.
It can reduce dependence on imported oil and gas.
It can encourage private investment by lowering exploration risks.
It can also support domestic manufacturing, innovation and employment in the offshore energy sector.
Key Takeaway
Samudra Manthan is an energy-security push. It aims to unlock offshore oil and gas potential while reducing exploration risk and building domestic offshore energy capacity.
