Oil & Gas projects worth 5.88 lakh cr resumed

14 September 2020

Project activity has resumed in 8,363 Oil & Gas projects worth Rs 5.88 lakh crore in India despite the impact of the Covid-19 pandemic, the Ministry of Petroleum and Natural Gas (MoPNG) said in a statement. 

The domestic petroleum industry has kickstarted economic activities or projects maintaining al pandemic-related Standard Operating Procedure (SOP), it said, adding oil minister Dharmendra Pradhan has been conducting in-depth reviews of all ongoing projects of oil and gas companies.

"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," the ministry said.

It added that this includes 25 major ongoing projects having an anticipated cost of Rs 1.67 lakh crore and have incurred capital expenditure of Rs 7,861 crore.

These projects of state-owned Oil & Gas companies and their Joint Ventures or subsidiaries include refinery projects, bio-refineries, E&P projects, marketing infrastructure projects, pipelines, CGD projects, drilling, and survey activities.