GOVT ROLLS OUT ROADMAP FOR $8.8B 'SAMUDRA MANTHAN' OFFSHORE SCHEME

Strategic Roadmap: The Petroleum Ministry is finalizing a phased drilling, seismic survey, and rig deployment plan under the $8.8 billion (₹84,000 crore) National Offshore Exploration Scheme through FY31.

Core Focus & Drivers: Exploration will prioritize the KG, Mahanadi, Andaman, and Cauvery basins, led by state-run giants ONGC and Oil India.

Infrastructure Push: To resolve operational bottlenecks, an ONGC-led joint venture will secure drillship capacity through shared investments and long-term charters.

The initiative targets adding 10–15 MTOE of oil and gas annually to curb import reliance, funding deepwater exploration (costing ~₹1,000 crore per well), seismic work in former "No-Go" zones, and shared evacuation infrastructure.