https://sputniknews.in/20260731/india-approves-88-billion-offshore-energy-plan-to-boost-oil-and-gas-exploration-11834689.html
India Approves $8.8 Billion Offshore Energy Plan to Boost Oil and Gas Exploration
India Approves $8.8 Billion Offshore Energy Plan to Boost Oil and Gas Exploration
Sputnik India
The Indian government has approved a $8.8 billion investment under the Samudra Manthan: National Offshore Exploration Scheme to accelerate offshore oil and gas... 31.07.2026, Sputnik India
2026-07-31T19:57+0530
2026-07-31T19:57+0530
2026-07-31T19:57+0530
business & economy
india
narendra modi
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The scheme, approved by the Cabinet chaired by Prime Minister Narendra Modi, will support deepwater exploration, seismic surveys, scientific deep drilling, and the development of offshore infrastructure.It also includes investments in digital management systems, advanced technologies, specialist training, improved coordination among stakeholders, and international cooperation to enhance offshore exploration and production.According to the government, the scheme is expected to add more than 600 million metric tonnes to India's oil and gas reserves, boost domestic production, generate large-scale employment, and help reduce the country's energy import bill.
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india, narendra modi, science & tech, oil and gas reserves, energy security
india, narendra modi, science & tech, oil and gas reserves, energy security
India Approves $8.8 Billion Offshore Energy Plan to Boost Oil and Gas Exploration
The Indian government has approved a $8.8 billion investment under the Samudra Manthan: National Offshore Exploration Scheme to accelerate offshore oil and gas exploration and strengthen the country's energy security.
The scheme, approved by the Cabinet chaired by Prime Minister Narendra Modi, will support deepwater exploration, seismic surveys, scientific deep drilling, and the development of
offshore infrastructure.
It also includes investments in digital management systems, advanced technologies, specialist training, improved coordination among stakeholders, and international cooperation to enhance offshore exploration and production.
Announcing the decision, Ashwini Vaishnaw said the initiative is designed to increase India's domestic oil and gas reserves and reduce dependence on imports.
According to the government, the scheme is expected to add more than 600 million metric tonnes to India's oil and gas reserves, boost domestic production, generate large-scale employment, and help reduce the country's energy import bill.
