The hydrocarbon industry must focus on boosting domestic oil and gas production to help meet the growing demand, said Minister for Petroleum and Natural Gas, Dharmendra Pradhan, on Tuesday.
Speaking at the signing ceremony here for 32 contract areas awarded under the second and third Open Acreage Licensing Policy (OALP) bid rounds, Pradhan said: “If you have any problems, feel free to come to me or the Petroleum Ministry officials, but please do not delay projects.”
India’s demand for energy is projected to soon outpace China’s, noted the minister.
The Directorate General of Hydrocarbons had offered 14 blocks in the second round and 23 blocks in the third round of bids under OALP. Bidding for these rounds closed on May 15 and, after evaluation, six companies were awarded 32 blocks. Read More