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GSPC's drilling project gets approval form Centre's green panel

The company has informed that the cost of drilling one well will be Rs 5 crore and the cost of a production facility would be Rs 1-2 crore.

Press Trust of India  |  New Delhi 

GSPC

The Centre's green panel has given environment clearance to

GSPC
Ltd (GSPC) for drilling and development of 19 exploratory wells at its block in

As per the proposal, the company will drill 14 wells and develop five already drilled ones by setting up a

The approval came after an Expert Advisory Committee (EAC) on industry, set up by the environment ministry, examined GSPC's proposal in a meeting recently.

After a detailed discussion, the EAC recommended grant of environment clearance to GSPC's project, as per the minutes of the EAC meeting.

The company has informed that the cost of drilling one well will be Rs 5 crore and the cost of a would be Rs 1-2 crore.

group, with 12 companies and institutes, has presence across the entire hydrocarbon value chain.

First Published: Fri, December 01 2017. 13:35 IST
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