The Union Cabinet of India approved the National Offshore Exploration Scheme, known as Samudra Manthan, with a total outlay of ₹84,084 crore [1].
This investment represents a strategic effort to enhance India's energy security. By accelerating the discovery of offshore oil and gas, the government intends to raise domestic production and lower the nation's crude-oil import bill [2].
The scheme will be implemented through the Union Petroleum Ministry with a timeline extending until the 2030-31 fiscal year [3]. The initiative focuses on tapping the energy potential of India's offshore basins to secure a more stable internal energy supply.
Officials said the program is expected to result in significant reserve accretion. The target for the scheme is to add over 600 million metric tonnes of oil equivalent [4].
This push for exploration comes as India seeks to mitigate the economic impact of volatile global energy markets. The Samudra Manthan project is designed to modernize exploration techniques and incentivize the search for hydrocarbons in deep-water territories.
The government's focus on offshore assets is part of a broader strategy to diversify energy sources and reduce the fiscal burden caused by the continuous need to import fuel from other nations [2].
“The Union Cabinet approved the Samudra Manthan National Offshore Exploration Scheme with a ₹84,084 crore budget.”
India's commitment of over ₹84,000 crore signals a shift toward aggressive resource nationalism to counter energy vulnerability. By targeting 600 million metric tonnes of oil equivalent, the government is attempting to pivot from a primary reliance on imports to a more self-sufficient model, which could stabilize the national currency and improve the trade balance over the next several years.
