The 13th edition of PETROTECH-2019 was held at India Expo Mart in Greater Noida, New Delhi from 10th to 12th February 2019. It was organised by Oil and Natural Gas Corporation Ltd. (ONGC) in association with Federation of Indian Petroleum Industries under the aegis of the Ministry of Petroleum and Natural Gas. The event was attended by energy Ministers from 18 countries, top industry executives, and over 7000 delegates from 70 countries to discuss the way forward for the energy sector.
Key Points
- PETROTECH is a biennial conference and exhibition for national and international experts in the oil & gas industry to meet and exchange views and share knowledge, expertise, and experiences.
- PETROTECH-2019 is the 13th edition of the flagship event of the Indian hydrocarbon sector.
- The theme of PROTECH-2019 was “Shaping the New Energy World through Innovation & Collaboration”.
PM Narendra Modi inaugurated PETROTECH-2019
The 3-day event was inaugurated by Prime Minister Narendra Modi on 10th February 2019.
Key Points
- He acknowledged the need to move towards responsible pricing of oil and gas to balance the interest of the consumer and producer, both and have a flexible and transparent oil & gas market to serve energy needs in optimal manner.
- He said that under the Ujjwala Scheme, 64 million (6.4 crore) households have been given LPG connections in a period of 3 years.
Dealer Owned Dealer Operated (DODO) model for setting up CNG stations launched by Dharmendra Pradhan
The Minister of Petroleum and Natural Gas Shri Dharmendra Pradhan launched the Dealer Owned Dealer Operated (DODO) model for setting up CNG stations.
Key points
- According to the general guidelines of the scheme, the entire earmarked dealer plot shall be developed exclusively for setting up of CNG station and allied commercial activities at the discretion of City Gas Distribution activities.
- It will cover 87 Geographical areas serviced by 23 authorized entities.
- As number of CNG stations in the country increases, more than 10% CNG stations may be based on DODO model.
Bid round III under Open Acreages Licensing Policy (OALP) launched by Dharmendra Pradhan
The Minister of Petroleum and Natural Gas Shri Dharmendra Pradhan launched the bid round III under Open Acreages Licensing Policy (OALP) under which 23 blocks, covering over 31,000 sq. km of area will be available for exploration.
Key Points
- He said that recently 55 blocks, spread across 10 sedimentary basins under maiden Bid Round were awarded, after a gap of 6 years and 30 contract areas under the Discovered Small Field Policy Bid Round-I. The Bid Rounds-II are underway and has seen an encouraging response from investors.
- OALP adopts all features of Hydrocarbon Exploration and Licensing Policy (HELP) – reduced royalty rates, no Oil Cess, uniform licensing system, marketing and pricing freedom, Revenue Sharing Model, Exploration rights on all retained area for full contract life etc.
MOU signed between EIL and Mongolia for Project Management Consultancy for oil refinery
Engineers India Ltd (EIL), a Public Sector Undertaking, under the Ministry of Petroleum and Natural Gas, and the Government of Mongolia signed a Memorandum of Understanding (MoU) at the PROTECH-2019, for Project Management Consultancy services for construction of an oil refinery plant in Mongolia by EIL.
Key Points
- Government of Mongolia is in process to set-up 5 MMTPA greenfield crude oil refinery in Sainshand province, under Line of Credit (LoC) extended by Government of India.
- The MoU was signed by Altantsetseg Dashdavaa, Executive Director, Mongol Refinery State Owned LLC and Mr R.K.Sabharwal, Director (Commercial), EIL in the presence of Shri Dharmendra Pradhan, and the Mongolian minister.