In order for all companies to start exploration and production work, United Oil and Gas Secretary Pankaj Jain has asked the Chief Secretary to take action to restore the Petroleum Mining Lease (PML).
Post Date – 11:30 AM, Saturday – 4/15/23
Photo: Facebook/India Ministry of Petroleum and Natural Gas
Amaravati: Joint Oil and Gas Secretary Pankaj Jain met Chief Secretary Dr KS Jawahar Reddy at the CS camp office on Friday to discuss the highlights of the pending oil project. During the meeting, Chief Secretary Jawaharedi said the Petroleum, Chemicals and Petrochemicals Investment Region (PCPIR) is an important project of the state and is receiving huge investments. He also added that the PCPIR project would boost the state’s revenue and asked Pankaj Jain to approve pending license applications.
In response, Pankaj Jain said the central government will fully support state governments in attracting investors into the oil and gas industry. It also said that several projects involving natural gas and oil were planned in the state. In addition, he expressed concern about the fees set by the state government. In order for all companies to start exploration and production work, he asked the Chief Secretary to take action to restore the Petroleum Mining Lease (PML).
In addition, he addressed the subject of increased agency costs of awarding new PMLs, as well as the costs associated with production-related variable components. The Chief Secretary undertakes to take the necessary PMLS related steps.
