Pradhan reviews progress of 8,363 projects
The Oil & Gas industry has kick-started economic activities with 8,363 projects worth an anticipated Rs.5.88 lakh crore, resuming work progressively since 20 April 2020, following all pandemic related SOP.
These projects by state-owned companies include Refinery projects, Bio Refineries, E&P Projects, Marketing infrastructure projects, Pipelines, CGD projects, drilling and survey activities.
The major 25 on-going projects of Oil & Gas CPSEs and JVs having an anticipated cost of Rs.167,248 crore and having incurred Rs.7,861 crore worth of Capex, said the Ministry of Petroleum and Natural Gas on 25 Aug 2020.
Minister of Petroleum and Natural Gas Dharmendra Pradhan has been holding in-depth reviews of all on-going projects with companies in implementations, the recent one held on 24 August 2020.
Under the Minister’s vision, the Petroleum Industry has turned ‘crisis into opportunity’ and is striving to work on mission mode to generate employment and revive growth.
Oil and Gas entities in their role as key actors are working on a war footing and contributing to the green shoots of economic revival already visible through the backward and forward linkages of the oil and gas industry.
Further, Oil and Gas sector is a key driver of economic growth and, therefore, these projects provide a boost to the national economy and will trigger job creation, material movement.
Out of the total anticipated cost of these projects, approximately Rs.120 lakh crore is targeted to be incurred as CAPEX in FY 2020-21.
In FY 2020-21 (as on 15 August 2020), around Rs.26,576 crore worth of CAPEX has already been incurred. Further, in FY 2020-21 (as on 15 August 2020), around Rs.3,258 crore has been reported to be payout accrued on labour account during this period.
A total of around 33.8 crore man-days (direct as well as indirect) of employment is expected to be generated towards the completion of these 8,363 projects, out of which more than 9.76 crore man-days of employment generation is targeted in FY 2020-21 itself.
In FY 2020-21 (as on 15 August 2020), employment of more than 2.2 crore man-days have been generated through capital expenditure in the execution of these Oil and Gas projects.
Oil&Gas companies have reported that in FY 2020-21, they have planned an employment-oriented OPEX of around Rs.41,672 crore out of which Rs.11,296 crore has already been spent.
This OPEX of Rs.41,672 crore has the potential to generate around 14.5 crore man-days employment (direct/indirect).
In FY 2020-21 (as on 15 August 2020), direct/indirect employment of around 4.4 crore man-days has been generated through OPEX.
In FY 2020-21, a total of around Rs.1.62 lakh crore (CAPEX and employment-oriented OPEX) is targeted to be spent by Oil&Gas companies that have the potential to generate employment of around 24 crore man-days (direct/indirect).
This amount spent would create a virtuous cycle of investments and will certainly play a crucial rule in the Indian economy revival and will also provide employment opportunities to people of our country.
The list based on name of project; company undertaking; Project Cost (Rs. crore) and CAPEX spent in FY 2020-21 (Rs. crore).
Poly Addition Project by HMEL; project cost Rs.22,900 crore and Rs.1,709 crore spent in FY2020-21
Rajasthan Refinery & Petrochemical Limited by HRRL; project cost Rs.43,129 crore and Rs.947 crore spent in FY2020-21
Exploratory Drilling in Western Offshore Basin-SW by ONGC; project cost Rs.2,659 crore and Rs.742 crore spent in FY2020-21
Visakh Refinery Modernisation Plant by HPCL; project cost Rs.26,264 crore and Rs.685 crore spent in FY2020-21
Ennore-Thiruvallur-Bengaluru-Puducherry-Nagapattinam- Madurai-Tuticorin Natural Gas by IOCL; project cost Rs.6,025 crore and Rs.571 crore.
Development Drilling in Mumbai High Asset by ONGC; project cost Rs.1,516 crore and Rs.514 crore spent in FH2020-21
Development Drilling in Neelam & Heera Asset by ONGC; project cost Rs.1,325 crore and Rs.488 spent in FY2020-21
Ethylene Glycol (MEG) Project at Paradip Refinery by IOCL; project cost Rs.5,654 crore and Rs.346 crore spent in FY2020-21
30” Crude Oil Pipeline in H-B section of PHBPL and Conversion of existing 18″ twin pipelines in H-B section from Crude to Product and Gas service by IOCL; project cost Rs.3,696 crore and Rs.313 spent in FY2020-21
Kochi-Koottanad-Bangalore-Mangalore Project by GAIL; project cost Rs.5,909 crore and Rs.300 crore spent in FY2020-21
Paradip – Hyderabad Pipeline by IOCL; project cost Rs.3,338 crore and Rs.200 crore spent in FY2020-21
Mumbai High South Redevelopment Phase IV by ONGC; project cost Rs.2,409 crore and Rs.199 crore spent in FY2020-21
Motor Spirit Block Project (MSBP) at Kochi Refinery by BPCL; project cost Rs.3,289 crore and Rs.146 crore spent in FY2020-21
Propylene Derivative Petrochemical Project (PDPP) at Kochi by BPCL; project cost Rs.5,246 crore and Rs.109 crore spent in FY2020-21
Mumbai Refinery Expansion Project by HPCL; project cost Rs.5,060 crore and Rs.103 crore spent in FY2020-21
Development of Surface Facilities for Production and Evacuation of Crude Oil and Natural Gas from Nadua and East Khagorijan by OIL; project cost Rs.653 crore and Rs.78 spent in FY2020-21
BS VI Project by MRPL; project cost Rs.1,810 crore and Rs.73 spent in FY2020-21
Life Extension of well platforms by ONGC; project cost Rs.2,283 crore and Rs.72 spent in FY2020-21
Dobhi-Durgapur Pipeline Project (Section 2 B) by GAIL; project cost Rs.2,433 crore and Rs.58 crore spent in FY2020-21
BS VI Project by CPCL; project cost Rs.1,858 crore and Rs.51 crore spent in FY2020-21
NCU (Phase-I) expansion along with revamp of MEG & BEU unit and C2-C3 at Panipat Refinery by IOCL; project cost Rs.1,636 crore and Rs.51 crore spent in FY2020-21
2 G Ethanol plant (Bio Refinery), Assam, by NRL; project cost Rs.1,750 crore and Rs.45 crore spent in FY2020-21
LPG Import Facility at Paradip by IOCL; project cost Rs.690 crore and Rs.27 crore spent in FY2020-21
Infrastructure facilities at Gujarat Refinery and Dumad for Koyali-Ahmednagar-Solapur Pipeline by IOCL; project cost Rs.906 crore and Rs.24 crore spent in FY2020-21
Barauni Refinery Capacity Expansion from 6.0 to 9.0 MMTPA by IOCL; project cost Rs.14,810 crore and Rs.10 crore spent in FY2020-21. #tenders #projects #infrastructure #pipelines #energy /fiinews.com
