Government to Fund Half of Deepwater Exploration Costs in New Scheme

• The government will fund up to half the cost of deepwater exploration wells under the Samudra Manthan scheme.
• The scheme involves an investment of Rs 84,084 crore and includes a recovery clause for the government.
• If oil or gas is found, the government expects to be repaid from the revenue generated by the discovery.
• If no oil or gas is found, the state will absorb the loss.
• The recovery clause is outlined in the newly issued operational guidelines.