Rajasthan’s Petroleum Sector Gets A Boost

| Updated: January 3, 2023 9:05 pm

Fresh or new investments of Rs 6,200 crore have been made by companies in the petroleum sector in Rajasthan. “In all, investments of over Rs 22,838 crore are being made by four companies in a phased manner. Of this, work on over Rs 6,200 crore has started,” Rajasthan Additional Chief Secretary (Mines and Petroleum) Subodh Agarwal said.

Agarwal said four companies in the petroleum sector had signed agreements on investment during “Invest Rajasthan”.

Cairn Vedanta signed a proposal for Rs 20,000 crore, Oil India for Rs 663 crore, Oil and Natural Gas Corporation for Rs 1,050 crore, and Focus Energy for Rs 1,125 crore. Cairn Vedanta has started exploration and other development works in the PML and PEL blocks in Barmer and Jalore districts. Work on around Rs 5,671 crore has been done.

Similarly, Focus Energy is doing investment works of Rs 113 crore in the Jaisalmer block. 

The ONGC had invested more than Rs 212 crore in exploration and production. It is Rs 144 crore for Oil India.

A 9-million-tonne-per-annum refinery-cum-petrol chemical complex at Rs 43,129 crore is being set up in Barmer district. It is a joint venture between Hindustan Petroleum Corporation and the Government of Rajasthan with equity participation of 74 percent and 26 percent, respectively.

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