Coal News We love to talk!

FEB 27 2015

Gujarat spent Rs 2847.25 crore on KG Basin in 2 ears: Minister

  • Economic Times, ET Bureau / Hyderabad
  • Created: Fri 27th FEB 2015

Gujarat has spent Rs 2847.25 crore in last two years on their ambitious gas exploration project in Krishna Godawari Basin even as the production of oil or gas is yet to take off despite the spending, Energy Minister Saurabh Patel told Legislative Assembly today. 

In his written reply to the House, Patel said the State Petroleum Corporation ( GSPC) has spent Rs 2847.25 crore for the project in last two years. 

Congress MLA and party chief whip Balwantsinh Rajput through a written query during Question Hour asked Patel to provide details about the expenses incurred for the project during the said period. 

He also asked government to give details about the quantity of oil or gas acquired till date from the basin. Giving the break-up, Patel stated while government spent Rs 2052.31 crore during 2013-14, it spent Rs 794.94 crore in 2014-15 (as on December 31, 2014). 

On gas and oil details, Patel admitted that production of oil or gas is yet to commence in the block KG/OSN/2001/3.


Gujarat Gas Oil Energy Petroleum

Related News

  • Oilmin seeks law ministry view on $5.61 gas price for all fields  Read more
  • Laurent Levy named third arbitration in Cairn tax case  Read more
  • Centre decides to conduct safety audits for all mines in wake of Jharkhand coal mine cave-in  Read more
  • MERC also issued an order in case of withdrawing the revised procedure for seeking open access permission for wind generators (Case nos. 72, 95 and 106 of 2014)  Read more
  • India Power completes acquisition of Meenakshi Energy, plans to invest Rs. 3500 cr for setting up plant in Bengal  Read more
  • ONGC says tests show RIL drilled into its field  Read more
  • As oil demand set to spike, Dharmendra Pradhan says India should get it at responsible price  Read more
  • Indias fuel demand rose 7.5% in December  Read more
  • Gujarat high court gives tax holiday relief to gas producers  Read more
  • Essar Oil: Deal or not, analysts remain bearish  Read more