Why In News?
The Union Cabinet approved the Samudra Manthan National Offshore Exploration Scheme, to reduce India's crude oil import dependency.
What is the Samudra Manthan Scheme?
Central Sector Scheme: Ministry of Petroleum & Natural Gas (MoPNG) initiative to accelerate offshore hydrocarbon exploration and strengthen India's long-term energy security under the National Offshore Exploration Scheme.
Risk-Sharing Model: Government reimburses up to 50% of deepwater and ultra-deepwater exploratory drilling costs, reducing exploration risks and encouraging private and global investment.
Implementation Timeline: The first phase will be implemented during FY 2026–27 to FY 2030–31.
Financial Outlay: Approved outlay of ₹84,084 crore for offshore exploration, infrastructure and technology development.
Strategic Significance: Supports Atmanirbhar Bharat, Energy Security, Make in India and the Blue Economy by unlocking India's offshore hydrocarbon potential.
What are the Key Objectives?
Expand Offshore Exploration: Open over 1 million sq. km of India's Exclusive Economic Zone (EEZ) by removing about 99% of previous "No-Go" restrictions, increasing exploration acreage.
Enhance Domestic Hydrocarbon Production: Increase production from 62 MMTOE to 80 MMTOE annually and expand the hydrocarbon resource base from 1.6 billion TOE to 2.2 billion TOE.
Reduce Import Dependence: Lower India's annual USD 144 billion energy import bill and potentially reduce crude oil imports by nearly ₹1 lakh crore per year through domestic discoveries.
Attract Investment: Improve India's exploration attractiveness by de-risking high-cost offshore drilling and encouraging domestic and foreign investment.
Strengthen Energy Security: Diversify domestic energy sources and reduce vulnerability to global geopolitical disruptions and oil price volatility.
Boost Employment & Manufacturing: Promote offshore engineering, shipbuilding, subsea services and indigenous manufacturing under Make in India.
What are the Major Components?
Large-Scale Seismic Surveys: ₹28,534 crore allocated for advanced 2D and 3D seismic surveys to improve identification of hydrocarbon reserves.
Exploratory Drilling: ₹43,200 crore allocated for drilling 60 deepwater and ultra-deepwater wells, with support up to ₹675 crore per well in frontier basins such as Andaman and Krishna-Godavari.
Shared Offshore Infrastructure: ₹10,000 crore for common offshore production facilities, evacuation pipelines and logistics infrastructure to reduce development costs.
Advanced Exploration Technologies: ₹2,000 crore allocated for Oil & Gas Manufacturing and Services Zones, digital exploration technologies and localisation of deepwater equipment under Make in India.
Technology & Digital Innovation: Promotes AI-enabled seismic interpretation, advanced geophysical imaging, digital reservoir modelling and modern offshore exploration technologies for efficient resource discovery.
Capacity Building: Strengthens technical expertise, domestic service providers and research capabilities for deepwater exploration, supporting long-term offshore energy development.