Oil & Gas industry has kickstarted economic activities/ projects numbering 8,363 with an anticipated cost of Rs 5.88 lakh crore which resumed progressively since 20 April 2020, maintaining all pandemic-related SOP.
Under the minister’s vision, Petroleum industry has turned ‘crisis into opportunity’ and is striving to work on mission mode to generate employment and revive growth. 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.
With that context, Minister of PNG & Steel Dharmendra Pradhan on Tuesday steered in-depth reviews of all ongoing projects of Oil & Gas companies. These projects of Oil & Gas CPSEs & JV/Subsidiaries inter-alia include refinery projects, bio refineries, E&P projects, marketing infrastructure projects, pipelines, CGD projects, drilling/survey activities. These projects area boost to the national economy and will trigger job creation, material movement.
With total anticipated cost of these projects is Rs 5.88 lakh crore, these projects are expected to generate 33.8 crore man-days (direct as well as indirect) of employment. In FY 2020-21 (as on 15 August 2020), employment of more than 2.2 crore man-days have already been generated through capital expenditure in the execution of these Oil & Gas projects, despite the Covid-19 pandemic.