India launches a ₹84, 084 Crore 'Samudra Manthan' mission to unlock offshore oil & gas!
The Union Cabinet has approved the 'Samudra Manthan' National Offshore Exploration Scheme with an outlay of ₹84, 084 crore to accelerate offshore oil and gas exploration through FY 2030–31.
This,
- Aims to add over 600 million metric tonnes of oil equivalent (MMTOE) to India's hydrocarbon reserves.
- Accelerates deepwater and ultra-deepwater exploration through advanced seismic surveys and exploratory drilling.
- Supports domestic manufacturing with dedicated oil and gas manufacturing and services zones.
- Strengthens India's long-term energy security while attracting fresh investments into the upstream sector.
Isn't it a great decision?
Ankleshwar
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