Cabinet Approves 'Samudra Manthan' National Offshore Exploration Scheme with ₹84,084 Crore Outlay

Key facts

• The Union Cabinet approved the 'Samudra Manthan' National Offshore Exploration Scheme with an outlay of ₹84,084 crore.
• The scheme will be implemented by the Ministry of Petroleum and Natural Gas until FY 2030-31.
• It aims to accelerate offshore oil and gas exploration, increase domestic production, and reduce import dependence.
• The programme includes acquisition of seismic data, deepwater and ultra-deepwater drilling, and scientific drilling in frontier basins.
• It also includes development of common offshore production and evacuation infrastructure and an integrated Oil and Gas Manufacturing and Services Zone.
• The scheme is expected to discover more than 600 million metric tonnes of oil equivalent (MMTOE) of hydrocarbon reserves.
• It will generate large-scale employment and promote indigenous manufacturing under Make in India and Atmanirbhar Bharat initiatives.