Kelkar panel to submit interim report soon: Moily

New Delhi: The Vijay Kelkar Committee will present an interim report on roadmap for enhancing domestic oil and gas production in next few days, Petroleum Minister M Veerappa Moily said today.

“I met Kelkar in Pune last week. He told me that he is finalising an interim report and may seek some more time for submitting the final report,” he said on the sidelines the 21st Global Symposium on Linking Project Mindset to Nations Prosperity in New Delhi.[caption id=“attachment_1262185” align=“alignleft” width=“380”]  Petroleum Minister M Veerappa Moily. Image courtesy PIB[/caption]

Moily had in March appointed a panel under economist Vijay Kelkar to prepare a roadmap for enhancing domestic production of oil and gas so as to substantially reduce the nation’s import dependency by 2030.

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India currently imports about 79 percent of its oil needs and about half of its natural gas requirement. Moily wants to cut down reliance on imports to half.

The panel was to submit its report by month end.

“May be in next few days they will submit an interim report,” Moily said adding the final report may take some more time.

India produces around 33 million tonnes of crude oil, which is enough to meet just about 20 percent of the demand for fuel. Natural gas production at 101 million standard cubic meters per day is just half of the demand.

The panel has been asked to suggests “steps to be taken for enhancing domestic oil and gas production from the unconventional energy sources and institutional mechanism (required) for appraisal of Indian sedimentary basins to the extent of 75 percent by 2015 and 100 percent by 2025”.

It 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 E & P 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 transnational gas pipelines.

Besides, steps to be taken for ensuring adequacy of finances for research and development required for building knowledge infrastructure in E&P activities and steps to be taken for development of gas transportation infrastructure for establishing countrywide marketplace are also included in its terms of reference.

PTI