Cabinet approves ₹84,084-crore ‘Samudra Manthan’ scheme for offshore energy exploration
The Union cabinet approved the ₹84,084-crore 'Samudra Manthan' scheme, a national offshore exploration program aimed at boosting domestic oil and gas resources.
The scheme targets reserve accretion of over 600 MMT of oil equivalent (MMToE) and aims to increase annual domestic oil and gas production from around 62 MMTOE to 80 MMTOE by March 31, 2031.
It includes four components: modern offshore seismic data acquisition (₹28,534 crore), drilling 60 deepwater exploration wells (₹43,200 crore), common offshore infrastructure hubs (₹10,000 crore), and oil and gas manufacturing and services zones (₹2,000 crore).
The initiative responds to India's crude oil import dependency rising from 78.5% in 2014-15 to 88.7% in 2025-26.
The scheme drew on Prime Minister Narendra Modi's vision articulated from the Red Fort, aiming to strengthen energy security and advance the Viksit Bharat vision.
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