Governance Now Visionary Talks Series

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.
 

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