Rs 80,000 cr investment: Reliance Industries, others get relief over KG-D6, 6 blocks
Moily said more than USD 14-15 billion investment has already been made in blocks like KG-D6 which has been producing oil since September 2008 and natural gas since April 2009.
"Enough technology is available where exploration can co-exist with defence strategies," he said, adding oil and gas production does not require thousands of kilometres of area.
While companies are allotted large areas for finding hydrocarbons, actual area used for production is only 4-5 per cent and the rest of it is relinquished, he said. The CCI, which was constituted to expedite the clearance for infrastructure projects of Rs 1,000 crore or more, on Wednesday took up the issue of defence ministry declaring 6 blocks in KG basin including KG-D6 producing fields and one in NEC or North East Coast region (Reliance Industries's gas discovery area of NEC-25) as "No-Go" areas and putting stringent conditions on 32 other blocks.
"The issue was discussed threadbare," Moily said the CCI has asked the two ministries to sit together and resolve the issue.
Originally, the Defence Ministry had declared 14 blocks as "No-Go" areas as they over-lapped or were close to proposed Naval base or missile launching range/air force exercise area.
But the Defence Ministry later relented and agreed for exploration to be permitted in 7 blocks in
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