Andhra Pradesh offers Single Window Service to ONGC operations
New Delhi [India], Jan. 28 (ANI): The Government of Andhra Pradesh and ONGC signed a Memorandum of Understanding (MoU) on Friday to take forward all critical Oil and Gas Exploration and Production activities of the Maharatna PSU in the state.
The MoU was signed at Visakhapatnam, at the sidelines of Partnership Summit 2017 being held jointly by Andhra Pradesh Government and CII, in the presence of Chief Minister Chandrababu Naidu and Union Minister of State (I/C) Petroleum and Natural Gas Dharmendra Pradhan.
As a key initiative, Andhra Pradesh Govt. would be offering a 'Single Window Service' through the Office of Commissioner of Industries to facilitate smooth implementation of the projects by ONGC. ONGC on its part would undertake Exploration, Development and Production activities in NELP and Nomination PML Blocks, situated in the State of Andhra Pradesh.
It would contribute to State GDP and economic welfare of the local people through Petroleum operation activities and payments in the form of statutory levies. As a result of development activities undertaken by ONGC, multiple benefits will be accrued to the state of Andhra Pradesh.
"The state would extend full cooperation for making country self-sufficient in energy sector by helping oil and gas industry to the maximum. The present MoU is the first step in that direction," said Andhra Pradesh Chief Minister Chandrababu Naidu.
ONGC already has ongoing operational activities through its regional bases at Rajahmundry and Kakinada and engaged in widespread Exploration and production activities.
ONGC is also pursuing to put the gas reserves it has discovered in KG basin, to production. It plans to invest about Rs. 10,000 Crores for E & P activities in Onland blocks and about Rs. 68,000 Crores in Offshore Assets in KG Basin.
"Oil PSUs are partnering with Govt of Andhra Pradesh to build new synergies in hydrocarbon sector. The oil PSUs have invested more than 9,400 Crore in last two and half years and have planned investments of more than Rs. 1, 43,000 crores in the state in coming years," said Dharmendra Pradhan, Union Minister of State (I/C) Petroleum and Natural Gas. (ANI)