Union Cabinet approves ‘Samudra Manthan’ offshore exploration scheme
The Union Cabinet approved ‘Samudra Manthan’, an offshore exploration scheme, with an outlay of about ₹84,084 crore. Of this, ₹43,200 crore has been allocated for drilling 60 deep-water exploration wells. The decision marks a major expansion of India's offshore exploration effort and its push to step up domestic oil and gas exploration in the country's deep-water basins.