OIL & GAS

Plan to boost oil royalty by scaling up exploration

With the royalty revenue from oil and gas falling over Rs 900 crore in the past four months compared to last year due to sharp decline in crude oil prices, the department is planning to help companies engaged in exploration ramp up production by expediting approval for new land in the Barmer-Sanchore basin.

In a review meeting of chief secretary Rajeeva Swarup, the petroleum department said that it has approached the revenue department to expedite the process of non-agriculture land conversion and allotment of government land so that exploration work gains pace, resulting in higher production and improved royalty.

Similarly, the department is also working on to offer deemed conversion facility, which is available to solar power projects in the state. For this, the Land Revenue Act is to be amended which is under process.

Earlier, the major hydrocarbon explorer Cairn India was allowed to take land on lease from farmers directly without any government intervention. In its presentation, the department also pitched for the same which has been discontinued for some time.

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