India's government will fund up to 50% of the cost of risky deepwater exploration wells under the 84,084 crore rupee Samudra Manthan scheme, to be repaid from revenue if a well finds oil or gas; if nothing is found, the State absorbs the loss. Repayment starts after seven years of commercial production or once the operator recovers 50% of its exploration and development costs, whichever comes first, in annual instalments without inflation indexation. The scheme covers 60 deepwater and ultra-deepwater wells: 56 exploration wells get up to 50% of actual cost, capped at 675 crore rupees each, and four stratigraphic wells get up to 100%, capped at 1,350 crore rupees each, with well support potentially reaching 43,200 crore rupees. Only state-run firms or consortia they lead can apply, only blocks awarded under the Revenue Sharing Contract regime since 2016 qualify, and development and sidetrack wells are excluded. A separate track offers viability gap funding for shared infrastructure to link small or stranded discoveries, initially in the Mahanadi basin.
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