Rs 6,200 crore investment in the petroleum sector in Rajasthan

Rajasthan Additional Chief Secretary (Mines and Petroleum) Subodh Agarwal said four companies in the petroleum sector had signed agreements on investment during "Invest Rajasthan"

Fresh or new investments of Rs 6,200 crore have been made by companies in the petroleum sector in Rajasthan, a senior state government official said.

“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 official said that ONGC had invested more than Rs 212 crore in exploration and production. It is Rs 144 crore for Oil India.

Agarwal said with this exploration and mining had started apace and, at the same time, direct and indirect employment was being generated.

He said that today Rajasthan had become the top crude mineral oil producer on-shore and more than 20 per cent of crude oil in the country was being produced in Rajasthan.

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 per cent and 26 per cent, respectively.