The NDA government has proposed an investment of over Rs 1.30 lakh crore in the next 15 years to double hydrocarbon production in the Northeast, said Dharmendra Pradhan, MoS (independent charge) for Petroleum and Natural Gas.
Unveiling the Modi government’s Hydrocarbon Vision 2030 document in Guwahati, Pradhan said that apart from leading to industrial activities in the region, particularly in Assam, it would create employment opportunities. The vision document has come on the eve of the Assam assembly election, the notification for which is expected in the next two or three weeks.
Pradhan took a dig at Congress for allegedly failing to realise the need to link the development of the Northeast to the hydrocarbon potential of the region. He said it was sad, particularly because petroleum in India had been first struck in Assam. “One party that ruled the country close to 70 years simply did not realise the need to link the development of the region to the potential hydrocarbon sector despite the fact that the country’s oil sector took root in this resourceful region,” Pradhan said.
The vision document, the minister said, aims at investment of over Rs 1,30,000 crore over the next 15 years. “Of this, about Rs 80,000 crore will be for the upstream sector, Rs 20,000 crore for the midstream and the remaining Rs 30,000 crore for the downstream sector,” Pradhan said.
Pradhan said a budgetary provision from the Centre is not required for implementation of the projects and proposals envisioned in the document — oil companies would pool resources. For that, however, there must be coordination among the state governments, the Centre and the companies, he added.