{
  "id": 47602,
  "title": "India's deep-sea bet: Centre's 'Samudra Manthan' to churn crude — How it works",
  "url": "https://urgent.news/2026/08/02/indias-deep-sea-bet-centres-samudra-manthan-to-churn-crude-how-it",
  "topic": "business",
  "section": "Business",
  "published": "2026-08-02T15:30:31.000Z",
  "source": {
    "name": "Times of India",
    "slug": "times-of-india",
    "url": "https://timesofindia.indiatimes.com/business/india-business/indias-deep-sea-bet-centres-samudra-manthan-to-churn-crude-how-it-works/articleshow/132809122.cms"
  },
  "original_language": "en",
  "account": "India's government has unveiled a Rs 84,084 crore National Offshore Exploration Scheme, known as Samudra Manthan, to explore deepwater and ultra-deepwater resources. This scheme will fund 50% of the cost of drilling exploration wells, with a maximum support of Rs 650 crore per well. The program aims to attract global energy companies to India's offshore basins and reduce the country's heavy dependence on imported energy.\n\nIndia currently relies on imported crude oil for 88% of its requirements, up from 77% in the previous decade, and about half of its natural gas consumption. The recent Middle East conflict further emphasized the need for domestic production and reduced reliance on overseas supplies.\n\nThe government will fund exploration for 60 wells over five years, with another Rs 28,534 crore allocated to offshore seismic and geological surveys. Common infrastructure such as subsea pipelines and processing facilities, valued at Rs 10,000 crore, will be shared among multiple operators. This infrastructure development aims to lower development costs and improve project economics.\n\nExperts believe the scheme will add 10-15 million tonnes of oil equivalent to India's annual production, reducing dependence on imports by 3-5%. However, the success of the scheme depends on the outcome of deepwater exploration, which carries significant risks and uncertainties. The government's decision to directly fund exploration risk marks a departure from its previous approach of only supporting proven development.",
  "summary": "India is funding half the cost of deepwater oil and gas exploration wells. This new scheme aims to reduce reliance on imported energy supplies. The government will support sixty exploration wells over the next five years. This initiative encourages companies to explore previously avoided offshore areas. Shared infrastructure will also lower development costs for new discoveries.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}