India has approved an ₹84,084-crore national offshore exploration programme, equivalent to approximately $8.8 billion, that will fund extensive seismic acquisition, data reprocessing and the drilling of 60 deepwater exploration wells.
Named Samudra Manthan, the programme will run until the end of the 2030–31 financial year and represents India’s largest offshore exploration initiative to date. It is intended to reduce exploration risk, attract private investment and accelerate the assessment of the country’s deepwater and ultra-deepwater basins.
A total of ₹28,534 crore, or approximately $3 billion, has been allocated to offshore data acquisition and processing. This comprises:
- ₹12,000 crore ($1.26 billion) for basin-wide 2D seismic coverage;
- ₹12,534 crore ($1.31 billion) for 3D seismic acquisition and other geophysical techniques; and
- ₹4,000 crore ($419 million) for reprocessing National Data Repository datasets and implementing AI-based interpretation tools.
The programme will allocate a further ₹43,200 crore, approximately $4.53 billion, to drilling 60 deepwater exploration wells. The Indian government will provide financial support covering up to 50% of eligible drilling costs, capped at ₹675 crore, or approximately $71 million, per well.
Exploration will focus on areas including the Krishna–Godavari, Cauvery and Mahanadi basins and the offshore Andaman region, where the government believes much of India’s remaining hydrocarbon potential is located.
Another ₹10,000 crore, or approximately $1.05 billion, will support shared offshore infrastructure intended to accelerate the commercialisation of discoveries. India will also invest ₹2,000 crore, around $210 million, in oil and gas manufacturing and services zones to expand domestic capabilities in offshore equipment and technology.
Subject to exploration success, the programme is targeting reserve additions of more than 600 million tonnes of oil equivalent. The government aims to expand India’s hydrocarbon resource base from 1.6 billion to 2.2 billion tonnes of oil equivalent and increase annual domestic production from approximately 62 to 80 million tonnes of oil equivalent.
Source: Government of India – National Offshore Exploration Scheme
