< Back to situations

This situation has concluded

It was preserved as a record on September 14; the timeline below shows how it unfolded, with sources. Get the briefing to follow the top situations still developing: three emails a week, sourced and in order.

Unsubscribe anytime.

[SITUATION] · [QUIET] · [BUSINESS]

3 clusters · 28 sources · 21 days · First seen about 2 months ago · Last updated about 1 month ago

India offshore deepwater oil and gas push

Overview

India is advancing its offshore deep-water oil and gas program under the Samudra Manthan National Offshore Exploration Scheme. The Union Cabinet approved a Rs 84,084 crore budget for the initiative, which runs through FY 2030-31. The scheme funds large-scale 3-D seismic surveys, deep- and ultra-deep-water exploratory drilling, and the development of shared offshore production, evacuation, and integrated manufacturing zones.

To facilitate exploration, the government has opened nearly 99% of former offshore ‘no-go areas’ for mineral and hydrocarbon discovery. Prime Minister Narendra Modi characterized the previous restrictions as a ‘flawed mindset’ that hindered offshore discovery. This policy shift is supported by reforms such as the Hydrocarbon Exploration and Licensing Policy (HELP) and the Open Acreage Licensing Programme (OALP).

On July 25, 2024, drilling commenced on the first appraisal well, MN-DWN18-1-HD, in the Mahanadi Offshore Basin. This is the first of four planned deep-water wells in that basin. State-run ONGC has announced plans to drill 150 deep-water wells over seven years, targeting roughly 5,600 MMTOE of hydrocarbon potential. The program aims to identify more than 600 MMTOE of reserves to reduce India’s reliance on imported crude, which accounts for approximately 85% to 90% of consumption. Officials state that ‘every metre drilled brings us closer to reducing import dependence, strengthening self-reliance and realising the vision of a developed India.’

Entities

Narendra Modi · India · Samudra Manthan (National Offshore Exploration Scheme) · Samudra Manthan · Samudra Manthan scheme

Claims

What the coverage asserts, and how many sources carry each claim.

[● 17 SOURCES] The Union Cabinet approved the Samudra Manthan offshore exploration scheme with an outlay of Rs 84,084 crore.
[● 17 SOURCES] The scheme expects to identify more than 600 million metric tonnes of oil equivalent (MMTOE) in new reserves.
[● 17 SOURCES] The scheme will fund seismic surveys, exploratory drilling, scientific drilling, and the creation of common offshore production and evacuation infrastructure.
[● 17 SOURCES] India imports about 85 % of its crude oil consumption.
[● 8 SOURCES] Samudra Manthan aims to accelerate deep‑water and ultra‑deep‑water oil and gas exploration in India’s offshore areas.
[● 7 SOURCES] The Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana with a budget of Rs 5,070 crore.
[● 6 SOURCES] The floating solar scheme targets development of 5,000 MW of capacity and at least 10,000 MWh of storage.
[● 2 SOURCES] The Cabinet also approved an expanded Khelo India sports programme.
[○ 1 SOURCE] ONGC plans to drill 150 deepwater wells over seven years, targeting nearly 5,600 MMTOE of hydrocarbon potential.

Timeline

about 1 month ago

[BUSINESS] 2 sources
India opens coastal waters for offshore exploration
India is opening its coastal waters for offshore mineral and hydrocarbon exploration through the ₹85,000-crore Samudra Manthan initiative to boost energy security.
about 2 months ago

[POLITICS] 19 sources
India Approves Rs 84,084 Crore ‘Samudra Manthan’ Offshore Oil and Gas Exploration Scheme
India’s Union Cabinet approved the Rs 84,084 crore Samudra Manthan offshore oil and gas scheme, targeting over 600 MMTOE of reserves to boost domestic production and cut import dependence.
about 2 months ago

[BUSINESS] 9 sources
India begins drilling first appraisal well in Mahanadi Offshore Basin to boost energy security
India started drilling its first appraisal well in the Mahanadi Offshore Basin, aiming to boost domestic hydrocarbon output and reduce import dependence, per Minister Hardeep Singh Puri.

Sources

bhaskarhindi.com · businesstoday.in · chemindigest.com · citizenlab.org · deccanchronicle.com · dinalipi.com · furnishing.com · gymnasticsassociation.org · indias.news · indiaseatradenews.com · mangalorean.com · migraciokutato.hu · newindianexpress.com · news18.com · newsable.asianetnews.com · newsdrum.in · onlinemediacafe.com · policycircle.org · pragativadi.com · samacharnama.com · senzabarcode.it · sigmaearth.com · socialnews.xyz · southasiandaily.com · tennews.in · thecsrjournal.in · thefrontierpost.com · travel2films.com

This summary has been updated 4 times: see revision history