Govt infusing Rs.61,000cr for increasing hydrocarbon production
Petroleum & Natural Gas Minister Hardeep Singh Puri has updated parliament on development being undertaken in the North East region including the Rs.44,000 crore projects such as Numaligarh Refinery expansion project, North East Gas Grid, Paradip-Numaligarh crude oil pipeline and NRL Bio refinery among others.
The 2G refinery of 185 klpd capacity at Numaligarh will produce Ethanol from Bamboo and will create huge employment opportunities for local farmers.
He also informed the House on 4 Dec 2023 that the entire North Eastern States are being covered under the City Gas Distribution network in order to provide cheaper and clean cooking/vehicle fuel to the masses.
The Government has reduced the “No Go” areas in Exclusive Economic Zone (EEZ) by almost 99% due to which approx 1 million square kilometres is now free for exploration and production activities, he said.
The other measures taken by the Government include using latest technologies, replacement and revival of sick and old wells etc.
The Government is infusing Capital Expenditure of approx. Rs.61,000 crore for increasing production in the coming years.
Transformational steps are being taken to attract foreign investment in the E&P sector and that the National Oil Companies (ONGC and OIL) have entered into agreements with the International Oil Majors (e.g. ExxonMobil, Chevron, TotalEnergies, Shell etc) for collaboration, he said.
Puri highlighted the success in achieving the Ethanol blending targets before due date (from 1.53 % in 2014 to 12% in 2023) and that the country is now marching ahead to have flex fuel engine vehicles. E20 (20% Ethanol blended fuel) is already available at more than 6000 Retail Outlets and will be available throughout the country by 2025.
He also mentioned about the steps taken by the Government to promote alternate sources like CBG, Green Hydrogen and EVs. Fiinews.com
