₹84,084 crore Allocated to Expand Offshore Energy Prospects by FY 2030‑31

In a landmark decision, the Union Cabinet approved a budget of ₹84,084 crore for the National Offshore Exploration Scheme, slated to run until the fiscal year 2030‑31. The investment will fund cutting‑edge offshore drilling, seismic surveys, and the creation of a unified oil‑and‑gas manufacturing hub.

The scheme is designed to reinforce national energy security by unlocking the vast hydrocarbon potential beneath Indian seas. It will enable faster drilling in deep and ultra‑deep water blocks, scientific exploration of frontier basins, and the development of shared offshore production and transport infrastructure.

Digital programme management tools will streamline coordination among ministries, state agencies and industry partners, while a focus on capacity building will nurture a homegrown workforce adept at operating advanced offshore technologies.

Government forecasts suggest the initiative could add over 600 MMTOE of discoverable reserves, accelerating domestic output and helping India meet growing energy demand with indigenous resources.