2 days ago
Congress Alleges Samudra Manthan Scheme Favors Adani, Demands Scrapping
The Indian government approved a large plan called Samudra Manthan for finding oil and gas under the sea.
The plan has a budget of Rs 84,084 crore and is scheduled to continue until the financial year 2030–31.
Congress says the plan could give too much help to private companies, especially the Adani Group.
Congress leader Shaktisinh Gohil pointed to Adani Welspun Exploration Limited as a possible beneficiary.
He said the government may pay up to half the cost of activities such as drilling and seismic surveys.
Congress wants the plan cancelled or the money given to ONGC, a government-owned energy company.
The party says ONGC already has many years of experience in exploration.
The government says the plan is meant to lower risks and encourage investment in offshore energy.
The government and Adani Group had not immediately responded to the allegations reported in the articles.
Congress alleged that the Samudra Manthan offshore exploration scheme was structured to benefit the Adani Group.
The Union Cabinet approved the scheme with an outlay of Rs 84,084 crore through FY 2030–31.
Congress spokesperson Shaktisinh Gohil said the government could provide up to 50% financial support for eligible exploration activities.
Gohil demanded that the scheme be withdrawn or its funds redirected to ONGC to create jobs and support exploration.
The government said the scheme aims to reduce exploration risks, attract investment, strengthen energy security and expand domestic production.
- Who
- Congress spokesperson Shaktisinh Gohil made the allegations against the Narendra Modi government and the Adani Group.
- What
- Congress alleged that the Samudra Manthan National Offshore Exploration Scheme favors private companies and demanded its withdrawal or the transfer of its funds to ONGC.
- Where
- The allegations were made at a press conference in New Delhi and concern offshore areas including the Mumbai Offshore Basin, Tapi Daman and Kutch.
- When
- The Union Cabinet approved the scheme on August 1, according to one report; other reports described the approval as occurring the previous month. It is to run through FY 2030–31.
- Why
- Congress said public funds could benefit Adani-linked exploration, while the government said the scheme is intended to strengthen energy security, domestic exploration and technological development.
Congress's Allegations
Government's Stated Objectives
Who benefits
Congress's Allegations
Congress alleged that the scheme was designed to benefit the Adani Group, particularly Adani Welspun Exploration Limited.
Government's Stated Objectives
The government described Samudra Manthan as a Central Sector Scheme to support offshore energy exploration and production; the reports did not include a government response directly addressing Congress's allegations.
Use of public funds
Congress's Allegations
Congress objected to potential government funding of up to 50% for private exploration, drilling, seismic surveys, data processing and offshore infrastructure.
Government's Stated Objectives
The government said financial support would reduce exploration risks, encourage investment and accelerate domestic oil and gas production.
Role of ONGC
Congress's Allegations
Congress argued that ONGC should receive the funds and lead the mission because it has decades of exploration experience and existing infrastructure.
Government's Stated Objectives
The government's stated objectives focused on energy security, technological leadership and offshore exploration without specifying that ONGC should have the primary role.
Key facts
- Scheme
- Samudra Manthan, also called the National Offshore Exploration Scheme
- Approved outlay
- Rs 84,084 crore
- Implementation period
- Through financial year 2030–31
- Potential government support
- Up to 50% of eligible exploration and related activity costs, according to Congress
- Company cited by Congress
- Adani Welspun Exploration Limited, in which Congress said the Adani Group holds a 65% stake and Well Spun Group holds 35%
- Estimated deep-sea well cost
- More than Rs 1,100 crore per well, according to Gohil
- Congress demand
- Withdraw the scheme or redirect its full outlay to ONGC
Quotes
Shaktisinh Gohil
Congress spokesperson who made the allegations at a press conference
“Why isn't ONGC being given the primary role in this national mission? Why is Modi government damaging the interests of their own ONGC which already possesses decades of exploration expertise to benefit one private company?”
deccanchronicle.com
“We demand that the Samudra Manthan scheme should be scrapped or the entire amount of Rs 84,084 crores should be diverted to the government’s own public-sector energy giant ONGC to create jobs and facilitate exploration.”
deccanchronicle.com
theprint.in
Sources
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