Samudra Manthan: India’s ₹80K Cr Deepwater Energy Bet

In a major push toward energy security and offshore investment, the Government of India has launched the 'Samudra Manthan' mission, backed by an ₹80,000 crore financial package to catalyze deepwater and ultra-deepwater oil and gas exploration.

By covering up to half the expense of exploratory drilling and partially funding 3D seismic surveys, the initiative significantly mitigates the high capital risks typical of offshore operations. The scheme coincides with the latest Open Licensing Programme (OALP) round, which places 18 high-potential offshore blocks up for bid.

To enable global and domestic operators to fully integrate the new incentives into their commercial plans, the bid submission deadline has been set to September 17, 2026. Demonstrating immediate traction, national oil company ONGC has already begun exploratory drilling activities in an offshore block under the programme.

News by Rahul Yelligetti.