Cabinet approves Samudra Manthan, an ₹84,084 crore national offshore oil and gas exploration scheme
Key facts
- The Union Cabinet approved Samudra Manthan on 31 July 2026.
- It is a Central Sector Scheme with ₹84,084 crore up to 2030-31.
- About ₹43,200 crore goes to drilling 60 deepwater wells.
- It also funds shared offshore infrastructure hubs and oil and gas manufacturing zones.
- It aims to add over 600 million tonnes of oil equivalent to reserves.
Why it matters
[Economy] India imports most of the crude oil it uses. Its offshore basins are still largely unexplored. The scheme is run by the Ministry of Petroleum and Natural Gas.
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