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The Economic Times

Economy / The Economic Times

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A deep dive with Rs 84,084 crore scheme for offshore oil and gas exploration

The Cabinet approved an 84,084-crore scheme for offshore oil and gas exploration. This National Offshore Exploration Scheme, Samudra Manthan, will run until 2030-31. It aims to boost domestic oil and gas production and reserve accretion. The government will fund half the cost of deepwater exploratory drilling. This initiative seeks to de-risk exploration for companies and increase production.

1 Aug 2026 1:27 am