The Indian government is launching the Samudra Manthan scheme to accelerate deep-water hydrocarbon exploration within the country's Exclusive Economic Zone [1], [2].
The initiative is a strategic effort to lower India's dependence on imported crude oil. This reliance has increased over the last decade, rising from 77% to 88% [4].
To achieve these goals, the Centre has announced a financial package. While some reports cite the investment at ₹80,000 crore [3], other sources place the total at approximately ₹84,000 crore [2], or specifically ₹84,084 crore [1].
The programme focuses on several key pillars to modernize the energy sector. These include conducting advanced seismic surveys and providing drilling incentives to attract operators. The government also plans to implement shared offshore infrastructure, and promote domestic manufacturing of exploration equipment [1], [3].
By targeting deep-water blocks, the government hopes to uncover significant oil and gas reserves that were previously inaccessible. This push toward domestic production is part of a broader timeline to enhance India's national energy security by 2030 [1], [2].
Officials said the scheme will integrate various technical and financial levers to make high-risk deep-water drilling more viable for companies. This includes reducing the financial burden on operators through targeted incentives and streamlined infrastructure [1], [3].
The move comes as the country faces volatile global energy markets. By expanding its own offshore capabilities, India aims to shield its economy from price shocks associated with foreign oil imports [2], [3].
“India's reliance on imported crude oil rose from 77% to 88% over the past decade.”
The Samudra Manthan scheme represents a pivot toward high-risk, high-reward deep-water exploration to address a growing trade deficit caused by energy imports. By investing heavily in infrastructure and incentives, India is attempting to transition from a primary importer to a more self-sufficient producer, though the success of the mission depends on the actual volume of reserves discovered in the Exclusive Economic Zone.
