{"id":22,"date":"2006-07-28T16:58:30","date_gmt":"2006-07-28T15:58:30","guid":{"rendered":"https:\/\/citynews.co.in\/index.php\/2006\/07\/28\/rs-4600-crores-loan-by-cairns-energy-for-development-of-oil-areas\/"},"modified":"2006-07-28T16:58:30","modified_gmt":"2006-07-28T15:58:30","slug":"rs-4600-crores-loan-by-cairns-energy-for-development-of-oil-areas","status":"publish","type":"post","link":"https:\/\/citynews.co.in\/?p=22","title":{"rendered":"Rs. 4600 Crores Loan by Cairns Energy for Development of Oil Areas"},"content":{"rendered":"

source: DIPR, Govt. of Rajasthan<\/a>
\nRAJASTHAN ON OIL MAP OF WORLD<\/b>
\n Jaipur, July 26. The Chief Minister, Smt. Vasundhara Raje said that the state had achieved the distinction of emerging on the oil map of the world. She said that the vast reserves of oil and natural gas found in Barmer district would change the picture of Rajasthan, which was known as desert land. Along with this a new era of prosperity would begin in the backward areas of Western Rajasthan, she added.<\/p>\n","protected":false},"excerpt":{"rendered":"

Smt. Raje was speaking at the Loan Contract function of the Rs.4600 crore (one billion dollar) loan taken by the Cairns Energy from the International Syndicate Bank Group for the development of oil areas in Rajasthan in New Delhi on Tuesday. The Union Petroleum Minister, Shri Murli Devra and the State Minister for Mines and Petroleum, Shri Laxmi Narain Dave was also present on the occasion. <\/p>\n

Smt. Raje said that this was the biggest oil reserve found in the country after 22 years and it was counted among the first hundred oil reserve areas of the world. She said that the Cairns Energy had achieved this distinction by digging 125 wells in 17 oil areas in Barmer district in the last two and half years. Smt. Raje said that over 3.5 billion barrel oil reserves was expected in Barmer district and it was hoped that the Cairns Energy would start the production of crude oil in two oil areas from October this year. She said that the petroleum sector would become an important source of the revenue income and also the growth engine of Rajasthan in the next few years. <\/p>\n

The Chief Minister expressed the hope that the Oil and Natural Gas Commission (ONGC) would soon setup oil refinery in Barmer district, which would open the door of investment in the area and industrial units based on petroleum and its other related products would be setup in the area. <\/p>\n

Expressing gratitude to the Cairns Energy for making arrangements of funds in a short period for the development of oil areas in Rajasthan and the Union Government for continuing the work of exploration of oil wells further even after the period of 6 years, Smt. Raje defined the function as an historical event and a gift to the people of the state on ‘Hariyali Amavasaya’. She assured that the State Government would always be ready to provide every cooperation to the Cairns Energy. <\/p>\n

Speaking in the function, the Forest, Environment and Petroleum Minister, Shri Laxmi Narain Dave said that the loan taken by Cairns Energy from International Bank Group for development of oil areas in Rajasthan would prove to be a mile stone in the development of the state and it would not only provide direct and indirect employment opportunities to the people of the desert areas of Western Rajasthan, who often faces the situation of drought and inadequate rainfall but also prove helpful in changing the economy of Rajasthan.<\/p>\n

He informed that the State Government had provided mining lease in 1859 sq. km. area to Cairns Energy on which the company had spent 400 to 500 million dollars so far. He said that one and half lakh barrel oil per day would be available with the development of all oil areas. Over 2500 to 3000 barrel oil per day was taken out presently. He informed that the Oil and Natural Gas Commission had given the responsibility to Mangrol Refinery and Petro-Chemicals Ltd. to setup oil refinery in Barmer. He also informed that the Cairns Energy had made a payment of eight lakh dollars as compensation to the farmers, whose land had been acquired or in case of damage to the crops. <\/p>\n

The Union Petroleum Minister, Shri Murli Devra, the Chief Executive of Cairns Energy, Sir Bill Gamel, Director International Finance Corporation, Shri Rashad Kaldeni, Shri Collin Boucefield of Royal Bank of Scotland, Financial Director of Cairns Energy, Shri Kevin Heart and the Chief Executive Officer of Cairns Energy in India, Shri Rahul Dhir also expressed their views on the occasion.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[2],"tags":[],"class_list":["post-22","post","type-post","status-publish","format-standard","hentry","category-india-news"],"_links":{"self":[{"href":"https:\/\/citynews.co.in\/index.php?rest_route=\/wp\/v2\/posts\/22","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/citynews.co.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/citynews.co.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/citynews.co.in\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/citynews.co.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=22"}],"version-history":[{"count":0,"href":"https:\/\/citynews.co.in\/index.php?rest_route=\/wp\/v2\/posts\/22\/revisions"}],"wp:attachment":[{"href":"https:\/\/citynews.co.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=22"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/citynews.co.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=22"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/citynews.co.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=22"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}