Domestic oil-gas companies chart plan to boost employment

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August 26, 2020 2:50 AM

As many as 8,363 oil and gas projects are currently underway, which will incur capital expenditure of Rs 1.2 lakh crore in FY21.

As on August 15, around Rs 26,576 crore has already been spent in this fiscal on these projects.As on August 15, around Rs 26,576 crore has already been spent in this fiscal on these projects.

The ministry of petroleum and natural gas said on Tuesday that domestic oil and gas companies have planned employment-oriented operational expenditure (Opex) of around Rs 41,672 crore for FY21, which can generate around 14.5 crore man-days of direct and indirect employment. Of this, Rs 11,296 crore has already been spent on creating 4.4 crore man-days of jobs, the government added.

As many as 8,363 oil and gas projects are currently underway, which will incur capital expenditure of Rs 1.2 lakh crore in FY21. As on August 15, around Rs 26,576 crore has already been spent in this fiscal on these projects.

The projects, implemented by CPSE oil and gas firms and their subsidiaries, include refineries, bio-refineries, exploration and production activities, marketing infrastructure projects, pipelines, city gas distribution projects, drilling and survey activities.

“Oil and gas entities in their role as key actors are working on war footing and contributing to the green shoots of economic revival already visible through the backward and forward linkages of the oil and gas industry,” the government said.

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