ONGC gets Andhra Pradesh support for oil and gas exploration and production

Andhra government would extend support for land acquisition, right of user and other statutory clearances permissible

GN Bureau | February 2, 2017


#ONGC   #Andhra Pradesh   #oil production   #PSU  
Andhra Pradesh government and ONGC — a Maharatna PSU signed an agreement on January 27 to take forward all critical oil and gas exploration and production (E&P) activities to the state.
 
Andhra Pradesh with its large coastline has some of the most promising hydrocarbon bearing fields. ONGC has ongoing operational activities through its regional bases at Rajahmundry and Kakinada and engaged in widespread exploration and production activities.
 
ONGC is also rigorously pursuing to put the huge gas reserves it has discovered in KG basin, to production. It plans to invest about Rs 10,000 crores for E&P activities in Onland blocks and about Rs 68,000 crores in offshore assets in KG Basin.
 
The MoU was signed at Visakhapatnam, on the sidelines of Partnership Summit 2017 being held jointly by Andhra Pradesh government and CII.
According to the agreement, the state government would extend all assistance for the land acquisition / Right of User (ROU) and other statutory clearances permissible under existing laws as amended from time to time and would provide all necessary support for E&P activities.
 
As a key initiative and a boast to E&P operations Andhra Pradesh government would be offering a ‘Single Window Service’ through the office of commissioner of industries to facilitate smooth implementation of the projects by ONGC. ONGC on its part would undertake exploration, development and production activities in NELP and nomination PML blocks, situated Andhra Pradesh.
 

Comments

 

Other News

Cyclists plan ‘memorial ride’ to press demand for infrastructure

Cycling is a passion for many, and it is a way to fitness too. With rising numbers of vehicles on the road, the government encourages this environment-friendly mode of transportation, but it comes with numerous challenges. An accident last month on the Mahipalpur flyover of south Delhi, which took the life

“World headed towards stagflation; India must take care of the poor”

As the post-pandemic fallout and geopolitical uncertainty slows down global economies and sanctions against some nations, energy crisis and inflation are adding to the troubles, India is projected to be decoupled from world economy and fare better. To check if this belief really holds water, in the latest

The changing nature of CSR in India

With the advent of globalization came a new set of challenges for corporations, notably the duty of ensuring the well-being of all stakeholders while also protecting the planet`s natural environment. Although we are dedicated to a faster and more inclusive rate of growth, it is equally imperative that we f

BMC commissioner Chahal conferred with hon. doctorate

BMC commissioner and administrator Iqbal Singh Chahal has been conferred with a Honorary Doctor of Science Degree (honoris causa) by Guru Nanak Dev University in Amritsar, Punjab. Chahal was conferred the degree during the 48th convocation of the University in Amritsar at the hands of Punjab

Sebi to have two-track approach on ESG

Securities and Exchange Board of India (Sebi) aims to use a two-track approach on environmental social and corporate governance (ESG). Addressing a conference on ‘ESG for Atmanirbhar Bharat` in Mumbai, Sebi chairperson Madhabi Puri Buch said that that there should not be a single carbo

Accuracy more important than speed in news: Anurag Thakur

Presenting authentic information is the prime responsibility of media and that facts should be properly checked before they are put in the public domain, union minister of information and broadcasting Anurag Thakur has said. “While speed with which the information is transmitted is imp

Visionary Talk: Amitabh Gupta, Pune Police Commissioner with Kailashnath Adhikari, MD, Governance Now


Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter