Drilling Deeper: India’s ₹84,000-Crore Push for Energy Self-Reliance

The government is set to provide significant financial support for deepwater and ultra-deepwater oil and gas exploration under the Samudra Manthan mission through 2030–31.

Of the ₹84,000-crore approved scheme, around ₹43,000 crore will support drilling 60 deepwater wells, with explorers eligible for assistance covering up to 50% of drilling costs, capped at ₹675 crore per well. The move aims to reduce exploration risks, boost domestic oil and gas production, strengthen energy security and lower India’s dependence on imports.

News by Rahul Yelligetti.