02-August-2026
Economy News
 
Cabinet clears Rs 84,084-crore incentive for offshore oil hunt
01-Aug-2026

The Union Cabinet on Friday approved a Rs 84,084-crore incentive scheme for offshore hydrocarbon drilling. This entails government support of up to 50% of eligible drilling costs or 675 crore per well, whichever is lower, for 60 deepwater exploratory units.

News Source:- https://www.financialexpress.com/policy/economy/cabinet-clears-rs-84084-crore-incentive-for-offshore-oil-hunt/4307874/?ref=hometop_hp