India Launches ₹84,084 Crore 'Samudra Manthan' Offshore Oil Project

The government has launched the 'Samudra Manthan' programme with an ₹84,084 crore budget until 2031 to de-risk and accelerate domestic offshore oil and gas exploration.

The funding includes ₹28,534 crore for data acquisition and exploration, alongside ₹55,200 crore for infrastructure-led production, aiming to unlock reserves estimated at over 5,600 million metric tonnes.

Jindal Drilling & Industries, which reported a 20.4% revenue growth to ₹997 crore in FY26, is identified as a key beneficiary due to its specialized offshore drilling fleet.