The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved the ambitious National Offshore Exploration Scheme, named ‘Samudra Manthan’, with a total expenditure of Rs 84,084 crore up to the financial year 2030-31. Spearheaded by the Ministry of Petroleum and Natural Gas, this strategic initiative aims to significantly accelerate domestic oil and gas exploration in India’s offshore regions, reinforcing the nation’s energy security and driving technological leadership toward a ‘Viksit Bharat’.
With India currently importing nearly 90 percent of its crude oil needs amidst global supply vulnerabilities, the scheme is projected to add over 600 million metric tonnes of oil equivalent to India’s hydrocarbon reserves. Home Minister Amit Shah highlighted on social media that the project will leverage India’s vast offshore energy potential, fuel domestic production, and generate massive employment opportunities, giving a strong impetus to the vision of a self-reliant India.
Beyond boosting hydrocarbon reserves—targeting an annual production increase of 10 to 15 million metric tonnes (with a peak capacity of 20 million tonnes)—the ‘Samudra Manthan’ scheme is expected to drive substantial foreign exchange savings by curbing import dependency. Furthermore, the initiative will foster indigenous manufacturing under the ‘Make in India’ framework, attract robust investments across the exploration and production value chain, and stimulate long-term economic growth and GDP expansion.
