Government greenlights Rs 84,000-crore scheme to boost offshore oil & gas exploration, production

5 min readJul 31, 2026 07:56 PM IST he scheme will provide support of up to Rs 650 crore for every well drilled in deep-sea and ultra-deep-sea areas. (Image: PIB)The Union Cabinet on Friday gave its nod to a Rs 84,084-crore scheme aimed at boosting oil and gas exploration and production from the country’s offshore basins, and reducing the dependence on imported energy. The ambitious ‘Samudra Manthan’ scheme, or the National Offshore Exploration Scheme, will provide financial support for exploratory drilling in deep-sea and ultra-deep-sea areas and support building of common infrastructure for production of discovered hydrocarbons in offshore areas, apart from funding offshore data acquisition and developing hydrocarbon manufacturing and services zones. The outlay is for implementation till