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[SITUATION] · [ACTIVE]
2 clusters · 15 sources · 7 days · First seen · Last updated
Categories: BUSINESS
India offshore deepwater oil and gas push
Entities: Samudra Manthan (National Offshore Exploration Scheme) · Narendra Modi · Ashwini Vaishnaw · Pradhan Mantri Surya Sarovar Yojana · India
Overview
On 25 July 2024 the Indian government began drilling its first appraisal well, MN‑DWN18‑1‑HD, in the Mahanadi Offshore Basin— the first of four deep‑water wells planned to gauge the basin’s hydrocarbon potential under the Hydrocarbon Exploration and Licensing Policy and the Open Acreage Licensing Programme.
A few days later the Union Cabinet approved the National Offshore Exploration Scheme, dubbed “Samudra Manthan,” allocating Rs 84,084 crore to accelerate deep‑water and ultra‑deep‑water exploration, reimburse up to half of exploratory‑well costs, fund 3D seismic surveys, and auction 18 offshore blocks. The scheme was presented as a cornerstone of India’s effort to slash its roughly 85 % reliance on imported crude.
In July 2026 the Cabinet reiterated its commitment to Samudra Manthan, confirming the same Rs 84,084 crore outlay and adding a parallel Rs 5,070 crore allocation for the Pradhan Mantri Surya Sarovar Yojana, a floating‑solar programme targeting 5 GW of capacity on reservoirs and accompanying storage. Officials said the offshore scheme could identify over 600 million metric tonnes of oil‑equivalent reserves, while the solar initiative aims to boost renewable generation, preserve land, and further strengthen India’s overall energy‑security agenda.
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 3 SOURCES] The Union Cabinet approved the Samudra Manthan offshore exploration scheme with an outlay of Rs 84,084 crore.
- [● 3 SOURCES] The Union Cabinet approved the Pradhan Mantri Surya Sarovar Yojana with a budget of Rs 5,070 crore.
- [● 2 SOURCES] The Samudra Manthan scheme aims to accelerate deep‑water and ultra‑deep‑water oil and gas exploration in India’s offshore areas.
- [● 2 SOURCES] The floating solar scheme targets development of 5,000 MW of floating solar capacity and at least 10,000 MWh of storage.
- [● 2 SOURCES] The offshore scheme will fund seismic surveys, exploratory drilling, and creation of common infrastructure for offshore production.
- [○ 1 SOURCE] The government expects the Samudra Manthan scheme to identify reserves of more than 600 million metric tonnes of oil equivalent.
- [○ 1 SOURCE] India imports about 85 % of its crude oil consumption.
- [○ 1 SOURCE] The Cabinet also approved an expanded Khelo India sports programme.
Timeline
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about 3 hours ago
[BUSINESS] 6 sourcesIndia Cabinet Approves Rs 84,084 Cr Offshore Oil‑Gas Scheme and Rs 5,070 Cr Floating Solar ProgramIndia's Union Cabinet approved a Rs 84,084 crore offshore oil‑gas exploration scheme and a Rs 5,070 crore floating solar program to boost energy security and renewable capacity.
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6 days ago
[BUSINESS] 9 sourcesIndia begins drilling first appraisal well in Mahanadi Offshore Basin to boost energy securityIndia 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 · chemindigest.com · deccanchronicle.com · dinalipi.com · furnishing.com · gymnasticsassociation.org · indias.news · newindianexpress.com · newsdrum.in · onlinemediacafe.com · pragativadi.com · samacharnama.com · senzabarcode.it · socialnews.xyz · tennews.in
This summary has been updated 1 time: see revision history