Rajasthan: Boost for hydrocarbon exploration as companies can take land on lease

Rajasthan: Boost for hydrocarbon exploration as companies can take land on lease

In a boost to hydrocarbon exploration in the state, land owners can now lease their plot for 15 years without having to go for land conversion. They will have to only inform the tehsildar. Earlier, companies in the hydrocarbon sector had to acquire the land from the owners hampering the speed of exploration.

Addressing a review meeting of the petroleum department on Tuesday, additional chief secretary Subodh Agarwal said the norms were changed by the revenue department to fast-track exploration of hydrocarbon resources in the state.

Rajasthan contributes 22% of the crude oil produced in the country while Bombay High accounts for 40%. About 1.22 lakh barrels of oil and 4-5 million cubic metre gas are produced in the state. Agarwal said that 14 petroleum exploration leases and 13 mining leases have been awarded in the state which will add further depth to the sector in the state.

In the financial year 2020-21, the royalty revenue from the petroleum production reached to Rs 1904.79 crore against Rs 3320.10 crore in 2019-20.

https://www.energyinfrapost.com/rajasthan-boost-for-hydrocarbon-exploration-as-companies-can-take-land-on-lease/

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