New Delhi, April 21 -- The Centre may extend its scheme to incentivize seismic surveys of sedimentary basins for mapping of oil and gas deposits by another year, said two people in the know of the development, amid a focus on finding new reserves to boost energy security.

The scheme, called Mission Anveshan, was launched in fiscal year 2025 (FY25) and is set to end in FY26.

Under it, the government gives incentives to state-run companies Oil and Natural Gas Corp. Ltd (ONGC) and Oil India Ltd to carry out 'seismic data acquisition', processing, interpretation and mapping of oil and gas reserves. It was launched in continuation of the National Seismic Programme (NSP) aiming at hydrocarbon resources in India's sedimentary basins.

"The sch...