Cabinet approves ₹84,084-cr. Samudra Manthan scheme for offshore exploration
The Union Cabinet approved the National Offshore Exploration Scheme Samudra Manthan, with an outlay of ₹84,084 crore, to boost India's offshore exploration efforts until FY2030-31. The scheme aims to catalyze reserves of over 600 million metric tonnes of oil equivalent (MMTOE). Key components include drilling 60 deepwater exploration wells (₹43,200 crore), offshore data acquisition (₹28,534 crore), developing common offshore infrastructure hubs (₹10,000 crore), and establishing oil and gas manufacturing and services zones (₹2,000 crore). This initiative seeks to reorient growth into the capital-intensive offshore exploration sector to enhance domestic energy security and overcome challenges from ageing oil and gas fields.
Key Points
- Union Cabinet approved the National Offshore Exploration Scheme Samudra Manthan with an outlay of ₹84,084 crore.
- The scheme aims to boost India's offshore exploration and catalyze over 600 MMTOE of oil equivalent reserves by FY2030-31.
- Key components include deepwater exploration drilling, data acquisition, infrastructure development, and manufacturing zones.
- The initiative seeks to enhance domestic energy security and address challenges from ageing oil and gas fields.
Exam Facts
- Scheme: National Offshore Exploration Scheme Samudra Manthan.
- Outlay: ₹84,084 crore.
- Target period: Until FY2030-31.
- Target reserves: Over 600 million metric tonnes of oil equivalent (MMTOE).
- Ministry: Union Petroleum Ministry.
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