National Offshore Exploration Scheme (Current Events)
National Offshore Exploration Scheme (Current Events)
Why In News:
The Union Cabinet approved 'Samudra Manthan', the National Offshore Exploration Scheme, with an outlay of Rs 84,084 crore to be implemented up to FY 2030-31.
The scheme is designed to accelerate offshore oil and gas exploration and reduce India's rising dependence on imported hydrocarbons.
Source: The Indian Express, Page 19, 1 Aug 2026, 'Govt nod Rs 84k cr scheme to boost offshore oil and gas exploration'; The Hindu, Page 11, 1 Aug 2026, 'Cabinet okays Rs 84,084-cr. Samudra Manthan for offshore exploration'
About the Scheme
Nodal Ministry: Ministry of Petroleum and Natural Gas; the scheme is a Central Sector Scheme.
Key Components of Samudra Manthan:
Deepwater Exploration (₹43,200 crore): Government support (up to 50% or ₹675 crore per well) for drilling ~60 offshore wells to reduce high investment risks.
Offshore Data Acquisition (₹28,534 crore): Collection and analysis of advanced seismic data and scientific drilling to minimise geological uncertainty.
Common Offshore Infrastructure (₹10,000 crore): Development of shared production and evacuation facilities to enable efficient extraction of discovered resources.
Manufacturing & Services Zones (₹2,000 crore): Creation of hubs to boost domestic manufacturing, localisation, and indigenous oil & gas capabilities.
Expected Outcome: Reserve accretion of over 600 Million Metric Tonnes of Oil Equivalent (MMTOE), along with fresh investment and employment generation.
Key Facts for Prelims
HELP and OALP: The Hydrocarbon Exploration and Licensing Policy and the Open Acreage Licensing Policy are the existing frameworks that govern the award of exploration blocks in India.
Hydrocarbon Exploration and Licensing Policy (HELP): HELP replaced NELP with a single uniform license for exploring all hydrocarbons (conventional & unconventional) and shifted to a simpler revenue-sharing model.
It provides marketing and pricing freedom to producers, improving ease of doing business and investment attractiveness.
Open Acreage Licensing Policy (OALP): OALP allows companies to choose exploration blocks of their interest and submit Expression of Interest (EoI).
It is supported by the National Data Repository (NDR), which offers seismic and geo-scientific data for informed decision-making.