What is the Samudra Manthan scheme all about? | Explained
The Union Cabinet has approved an ₹84,084 crore outlay for the 'Samudra Manthan' scheme to boost deepwater and ultra-deepwater hydrocarbon exploration. The initiative aims to de-risk private investment and reduce reliance on aging oil fields.
Why it matters
This is a significant strategic move to secure India's energy future through capital-intensive offshore exploration.
The Union Cabinet on Friday (July 31, 2026) approved an outlay of ₹84,084 crore for the Oil Ministry’s National Offshore Exploration Scheme.
‘Samudra Manthan’ seeks to provide a fillip to India’s ambitions in deepwater and ultra-deepwater explorations. The scheme, which, among other things, seeks to de-risk offshore exploration and catalyse private investments, calls for the corpus to be utilised through fiscal year 2030-31.
Hydrocarbon exploration by its very nature is a complex, capital-intensive activity which holds long gestation periods – typically five to ten years spanning from when an exploration block is awarded to the commencement of commercial production.
Deepwater and ultra-deepwater – which entail extracting oil and gas from beneath the ocean’s floor – require further advanced technology and enhanced investment.
The Oil Ministry sees future hydrocarbon potential in India’s deepwater and ultra-deepwater basins, such as Krishna-Godavari, Cauvery, Mahanadi and the Andaman region.
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