New Delhi, The government will share the cost of high-risk deepwater oil and gas exploration with energy companies under the Rs 84,084-crore Samudra Manthan scheme, offering to pay part of the cost of risky exploration wells, fund seismic mapping of offshore basins and help build shared production facilities.
The Ministry of Petroleum and Natural Gas issued operational guidelines for the Samudra Manthan programme, which aims to improve the economics of exploring India's deepwater and ultra-deepwater basins, where high drilling costs and uncertain geological prospects have constrained investment.
