The Vice President of India, Shri M. Venkaiah Naidu
interacted with CMDs of ONGC, GAIL, and HPCL in Visakhapatnam recently and
suggested to them to expedite various projects across the country in view of
the rising demand for oil and gas.
The CMDs made presentations and apprised him of the
progress of various projects.
The Vice President said that Industrialization, Rapid
Urbanization, Rising Income Levels, and other factors are spurring demand for
oil and gas. He pointed out that the Indian government has also chalked out a
plan to reduce oil imports by 2022, according to an official
Shri Naidu also suggested to ONGC to establish a
corporate office in the East Coast since most of ONGC’s exploration and
production activities are being carried out in Konaseema area of Andhra
ONGC CMD informed the Vice President that so far they
have invested Rs 51,453 crores in onshore and offshore assets in KG basin and
another 35,000 crore are in the pipeline, of which Rs 10,000 crore is scheduled
for this year. CMD of HPCL said that they will complete the Rs 20,928 Visakh
Refinery Modernisation project worth by 2020. The 697 km Vijayawada Dharmapuri
pipeline is being taken up at cost of Rs 2677 crores.
CMDs of GAIl and HPCL informed the Vice President that
for speedy installation of the 33,000 crores worth Petrochemical complex at
Kakinada, all necessary steps are being taken, also appraised that a
coordination meeting with the all stake holders including state administration
to resolve pending issues.
The Vice President has urged the public sector
companies to look into the recommendations of the Parliamentary Standing
Committee on Energy. He also wanted GAIl to expedite laying of gas
pipelines for domestic consumption in Southern and Northern Andhra Pradesh.