The Petroleum and Natural Gas Ministry, on Monday, constituted a new committee headed by economist Vijay Kelkar to put in place a policy on energy security and prepare a roadmap for enhancing domestic oil and gas production to reduce dependence on imports by 2030, according to an official statement.
Dr. Kelkar, who had also prepared a roadmap for deregulation of the retail oil and gas sector, has been asked to submit his report within six months. India at present imports 80 per cent of its oil and gas requirements and about half of its natural gas requirement.
The panel has also been asked to suggest utilisation of Oil Industry Development Board (OIDB) cess and other innovative resource mobilisation approaches for appraising the unexplored /partly explored acreages and development and promotion of indigenous service industry in the E&P (exploration and production) sector.
The committee would also review institutional mechanism for acquisition of oil and gas assets abroad as well as pursuing diplomatic and political initiatives for import of gas from neighbouring and other countries with emphasis on trans-national gas pipelines. “Comments, suggestions and inputs on the terms of references of the committee may be submitted, latest by April 19,” the statement added.
This article has been edited to correct a factual error.