🗞️ Why in News In his Red Fort address on August 15, 2026, PM Modi announced “Samudra Manthan,” a Rs 84,084 crore Central Sector Scheme, approved by the Union Cabinet on July 31, 2026, to accelerate deepwater and ultra-deepwater hydrocarbon exploration in India’s Exclusive Economic Zone.
What the Scheme Covers
Samudra Manthan’s Phase-I outlay runs through FY 2030-31, covering high-quality seismic mapping, deepwater and ultra-deepwater exploratory drilling, scientific drilling in frontier basins, shared offshore infrastructure, and an integrated Oil and Gas Manufacturing and Services Zone. The target is reserve accretion exceeding 600 Million Metric Tonnes of Oil Equivalent.
Opening India’s Coastal Waters
India’s EEZ spans 23.6 lakh sq km. Pre-reform, 13.67 lakh sq km of this was designated “no-go” (restricted) for exploration; that restricted area has now been cut to just 24,832 sq km, meaning over 99 per cent of India’s coastal waters have moved from “no-go areas” to “go-ahead areas,” in PM Modi’s own framing.
Why This Matters
India imports roughly 88.5 per cent of its crude oil requirement and close to half its natural gas needs, making deepwater exploration central to reducing import dependence, part of the energy-security dimension of the “Sapta Dhara” vision announced the same day.
📌 Facts Corner, Knowledgepedia
Samudra Manthan Scheme:
- Announced: August 15, 2026; Cabinet approval: July 31, 2026
- Outlay: Rs 84,084 crore, Phase-I through FY 2030-31
- Nodal ministry: Ministry of Petroleum and Natural Gas
- India’s EEZ: 23.6 lakh sq km; restricted “no-go” area cut from 13.67 lakh sq km to 24,832 sq km
- Target: over 600 MMTOE reserve accretion
Other Relevant Facts:
- India’s crude oil import dependence: approximately 88.5%; natural gas import dependence: roughly half of requirement
Sources: Ministry of Petroleum and Natural Gas, PIB
Source: PM Announces "Samudra Manthan": Rs 85,000 Crore Offshore Oil and Gas Exploration Scheme — Ujiyari.com | Free UPSC & State PCS Current Affairs
