Gujarat spends Rs 2,998 cr on gas exploration in KG Basin

Gujarat State Petroleum Corp (GSPC) spent Rs 2,998.08 crore in the last two years on gas exploration in Krishna Godavari (KG) Basin, the state government informed the Assembly today.
However, the government also admitted that gas production is yet to commence after spending the money.
During question hour, Congress MLA and party chief whip Balwantsinh Rajput asked for details about the expenses incurred for gas exploration project at KG Basin in the last two years.
In his written question, Rajput also sought details about the quantity of oil or gas acquired till date from the Basin.
In a written reply, state Energy and Petroleum Minister Saurabh Patel said Rs 2,998.08 crore have been spent by the state government for KG Basin project within last two years.

GSPC, a state-owned firm is involved in exploration of gas in the KG basin, he added.
The minister also said Rs 2,052.31 crore have been spent during 2013-14 while Rs 945.77 crore have been spent in 2014-15.
According to Patel, production of oil or gas is yet to commence in KG Basin.