Union Cabinet approves ₹84,084 crore for offshore exploration scheme ‘Samudra Manthan’
The Union Cabinet approved ₹84,084 crore for the offshore exploration scheme 'Samudra Manthan'. Of this total outlay, ₹43,200 crore has been earmarked for drilling 60 deepwater exploration wells. The scheme is aimed at deepening India's search for hydrocarbons in its offshore basins, boosting domestic energy output and reducing the country's heavy dependence on costly energy imports over the coming years.
Nabka Insight
A newly named Cabinet scheme with a large outlay tied to energy security and offshore exploration.
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- Total outlay: ₹84,084 crore approved by the Union Cabinet
- ₹43,200 crore allocated for drilling 60 deepwater exploration wells
- Scheme name: Samudra Manthan (offshore exploration)
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