Centre to speed up petroleum projects in Andhra Pradesh

In order for all companies to start work on exploration and production, Union Petroleum and natural gas secretary Pankaj Jain requested that the chief secretary take action to restore the Petroleum Mining Leases (PML).

Amaravati: Union Petroleum and natural gas secretary Pankaj Jain met the chief secretary, Dr. KS Jawahar Reddy, at the CS camp office on Friday to discuss key points on pending petroleum projects. In the meeting, chief secretary Jawahar Reddy said the Petroleum, Chemicals, and Petrochemicals Investment Region( PCPIR) is a crucial project for the state and is getting huge investments. He also added that the PCPIR project would improve the state’s revenues and requested Pankaj Jain for clearances of pending applications for licenses.

In response, Pankaj Jain said that the central government will give the state government its full support to attract investors to the petroleum and natural gas industries. It was also stated that several projects involving natural gas and petroleum were planned for the state. Additionally, he raised concerns about the fees set by the state government. In order for all companies to start work on exploration and production, he requested that the chief secretary take action to restore the Petroleum Mining Leases (PML).

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Further, he spoke about the subject of increased establishment costs for the grant of new PMLs as well as a cess connected to the production-linked variable component. The chief secretary pledged to take the necessary PMLS-related measures.