India to launch Samudra Manthan soon to cut crude imports
India is gearing up to launch the Samudra Manthan program in the next few weeks, aiming to ramp up domestic oil and gas production by drilling offshore and ultra-deepwater sites.
With almost 85% of its crude oil coming from abroad, this move is a big step toward energy independence and cutting down on imports.
Government launches OALP-11 offering 21 blocks
The government recently launched OALP-11, offering 21 blocks, covering deepwater and ultra-deepwater zones, to attract new investments.
The government is also encouraging companies to join in through policies like HELP and OALP, while exploring partnerships abroad.
Officials hope the Samudra Manthan program, focused on offshore and ultra-deepwater drilling, will boost production of crude and reduce the country's import dependency to achieve energy security.