Government greenlights Rs 84,000-crore scheme to boost offshore oil & gas exploration, production
The Union Cabinet approved the Rs 84,084-crore Samudra Manthan scheme to enhance offshore oil and gas exploration and production, aiming to reduce reliance on imports. The initiative will support drilling in deep-sea areas and infrastructure development, with expectations of adding over 600 million tonnes of oil and gas reserves by 2030-31. This move is anticipated to attract substantial investments in the sector, bolstering India's energy security.