The Indian government has approved a National Offshore Exploration Scheme to support offshore oil and gas exploration and production activities through FY2030-31, expecting to add more than 600 Mtoe of oil and gas reserves (Government of India press release, 31/07/2026).
The Samudra Manthan scheme includes investments across the offshore exploration value chain, including seismic data acquisition, processing and interpretation, deepwater and ultra-deepwater exploratory drilling, scientific drilling in frontier basins, and the development of offshore production and evacuation infrastructure. It also provides for the creation of an integrated Oil & Gas Manufacturing and Services Zone, alongside digital programme management, technology deployment and capacity-building initiatives.
According to the government, the INR84.1bn (USD885m) programme is expected to increase domestic hydrocarbon production and stimulate investment across the exploration and production sector. The scheme is also intended to strengthen domestic manufacturing capabilities under the Make in India and Atmanirbhar Bharat initiatives.
The government said the programme builds on recent upstream sector reforms, including the opening of most offshore acreage for exploration, modernisation of the legislative and contractual framework, and expansion of the National Data Repository.
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