Context
The Union Cabinet has approved the ₹84,084-crore National Offshore Exploration Scheme (Samudra Manthan) to accelerate offshore oil and gas exploration until FY 2030–31.
Explanation
- Samudra Manthan is a flagship Ministry of Petroleum and Natural Gas (MoPNG) scheme to promote offshore hydrocarbon exploration and reduce import dependence.
- Offshore exploration identifies crude oil and natural gas beneath the seabed using seismic surveys, geological mapping, and exploratory drilling.
- The scheme supports deepwater and ultra-deepwater drilling, where exploration is technologically challenging and capital-intensive.
- It provides financial support for eligible exploratory wells, strengthens offshore data acquisition, and develops common exploration infrastructure.
- It also promotes oil and gas manufacturing and service hubs under Make in India and Atmanirbhar Bharat.
- The objective is to discover new reserves, enhance energy security, attract private investment, reduce geological risk, and increase domestic hydrocarbon production.
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