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Rajasthan wants crude purchase pact

Special Correspondent

JAIPUR: The Rajasthan Government has sought intervention of the Centre in signing of a crude purchase agreement between the Oil and Natural Gas Corporation (ONGC) and British oil major Cairn Energy extracting oil in Barmer district. Cairn Energy has deferred its plans for oil production till 2009 in view of delay in signing the agreement.State Mines and Petroleum Minister Laxminarain Dave pointed out in a letter addressed to Union Petroleum Minister Murli Deora that though Cairn Energy had formulated a plan to invest one billion U.S. dollars in the development of five blocks approved by the Centre, the oil production was held up in the absence of an agreement.

In addition to the ONGC, the Mangalore Refinery Private Limited will also be a signatory to the agreement. The pact will cover Mangala, Aishwarya, Saraswati, Rageshwari and Rageshwari Deep oil and gas regions of Barmer district.

Mr. Dave pointed out that the State Government had included the revenue projected from the sale of oil in its Budget and financial plans.

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