India's Union Cabinet approved the 'Samudra Manthan' offshore oil and gas exploration scheme with a total outlay of ₹84,084 crore [1].
The initiative represents a strategic push to secure energy independence by increasing domestic production. By targeting deep-sea reserves, the government seeks to mitigate the economic burden of energy imports and stabilize national fuel supplies.
The scheme will be implemented by the Union Petroleum Ministry. A cabinet spokesperson said the Union Cabinet approved the ₹84,084 crore [1] funding for the National Offshore Exploration Scheme, titled 'Samudra Manthan'.
Government officials expect the project to significantly increase national reserves. A government statement said the Samudra Manthan scheme is expected to catalyse reserve accretion of over 600 million tonnes of oil and oil-equivalent gas [2].
The timeline for the implementation of the scheme extends through Fiscal Year 2030-31 [3]. This long-term horizon allows for the complex technical requirements of deep-sea drilling and infrastructure development.
Beyond the immediate extraction of resources, the government intends to modernize the sector's economic framework. A cabinet communique said the scheme is also expected to stimulate significant investments across the exploration and production value chain, creating long-term opportunities for industry, innovation, and economic growth [4].
The funding, which some reports rounded to ₹84,000 crore [5], is designed to attract both private and public investment into the exploration-production value chain. This approach is intended to create a sustainable ecosystem for energy innovation within India's maritime borders.
“The Samudra Manthan scheme is expected to catalyse reserve accretion of over 600 million tonnes of oil and oil-equivalent gas.”
This investment signals India's commitment to energy security amidst volatile global oil markets. By aggressively pursuing offshore reserves through 2031, the government is attempting to shift from a primary reliance on foreign imports to a more self-sufficient domestic production model, which could fundamentally alter the country's trade balance and energy geopolitics.
