New Delhi, July 31 -- The union Cabinet on Friday approved the 'Samudra Manthan' - National Offshore Exploration Scheme with an outlay of Rs 84,084 crore for implementation until 2030-31, paving the way for a major expansion of offshore oil and gas exploration to strengthen India's long-term energy security.
Announcing the decision after the Cabinet meeting, union Information and Broadcasting Minister Ashwini Vaishnaw said the Central Sector Scheme of the Ministry of Petroleum and Natural Gas is designed to unlock the country's offshore hydrocarbon resources while boosting technological capabilities, domestic manufacturing and economic growth.
"The union Cabinet has approved 'Samudra Manthan' - the National Offshore Exploration Scheme wit...