‘Samudra Manthan’: Cabinet approves Rs 84,084 cr scheme for oil & gas exploration - top things to know
India's Union Cabinet approved the 'Samudra Manthan' National Offshore Exploration Scheme with a budget of Rs 84,084 crore, to be implemented through FY2030-31.
The scheme aims to add over 600 million metric tons of oil equivalent (MMTOE) to India's reserves and boost domestic oil and gas production.
It includes two components: seismic data acquisition and processing, and offshore exploration acceleration with support for infrastructure and manufacturing.
The programme covers the entire offshore exploration value chain, including deepwater drilling, scientific drilling in frontier basins, and development of shared offshore infrastructure.
It is expected to create large-scale employment and strengthen indigenous manufacturing under the 'Make in India' and 'Atmanirbhar Bharat' initiatives.
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