'Samudra Manthan' (National Offshore Exploration Scheme) approved with Rs.84,084 crore outlay

Why in news

The Union Cabinet has approved the 'Samudra Manthan' - National Offshore Exploration Scheme, a Central Sector Scheme under the Ministry of Petroleum & Natural Gas, with a significant financial outlay for implementation up to FY 2030-31.

Exam relevance

GS3 · Economy, Science & Technology, Governance · Prelims · Mains

Key facts

1. The Union Cabinet approved the 'Samudra Manthan' - National Offshore Exploration Scheme.
2. It is a Central Sector Scheme of the Ministry of Petroleum & Natural Gas.
3. The approved outlay for the scheme is Rs.84,084 crore.
4. The scheme is to be implemented up to FY 2030-31.
5. The scheme aims to unlock India's offshore energy potential and strengthen energy security.
6. Interventions include seismic data acquisition, exploratory drilling, development of offshore infrastructure, and establishment of an Oil & Gas Manufacturing and Services Zone.
7. It also includes provisions for digital management, capacity building, technology adoption, and stakeholder engagement.

Prelims pointers

• Scheme Name: Samudra Manthan (National Offshore Exploration Scheme)
• Scheme Type: Central Sector Scheme
• Nodal Ministry: Ministry of Petroleum & Natural Gas
• Total Outlay: Rs.84,084 crore
• Implementation Period: Up to FY 2030-31
• Key Objectives: Enhance energy security, boost domestic exploration & production, promote technological leadership.

Mains practice question

Discuss the significance of the 'Samudra Manthan' scheme in enhancing India's energy security and its potential contribution to the 'Viksit Bharat' vision, considering the challenges in offshore exploration.

Static linkage

The scheme aligns with the government's broader objectives of energy security and self-reliance, often discussed in the context of economic development and national security. The mention of 'Viksit Bharat' links it to the national vision for development.

Significance

The 'Samudra Manthan' scheme is significant for India's energy security as it aims to tap into the country's substantial offshore energy reserves. By focusing on accelerated exploration, deepwater drilling, and infrastructure development, it seeks to reduce import dependence and boost domestic production. The emphasis on technology adoption and capacity building positions India to become a leader in offshore exploration and production, contributing to economic growth and the 'Viksit Bharat' vision.