Union Cabinet approves ₹84,084 crore for offshore exploration scheme 'Samudra Manthan'
The Union Cabinet approved ₹84,084 crore for 'Samudra Manthan', an offshore exploration scheme to expand India's oil and gas output. Of this, ₹43,200 crore has been allocated for drilling 60 deepwater exploration wells, targeting the country's under-explored deep-sea basins to boost domestic hydrocarbon discovery and reduce dependence on imported energy under the scheme's multi-year push.
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Large offshore exploration outlays link energy security with the economy for examiners.
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- Total approved outlay: ₹84,084 crore.
- ₹43,200 crore earmarked for drilling 60 deepwater exploration wells.
- Scheme name: Samudra Manthan (offshore exploration).
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