DGH approves investments worth $4.8 b during lockdown

Hydrocarbons (DGH) has given investment approvals worth nearly $4.8 billion (approximately ₹36,000 crore) during the last two weeks for upstream oil and gas activities in India.

Among the large investment proposals that have given approval are ‘work-plan budgets’ of projects in the Krishna-Godavari Basin, including projects of ONGC and Reliance Industries Ltd. Work-plan budgets of major investments in Rajasthan have also received approval. “Taking into account approvals for exploration activities too, investment approvals worth nearly $4.8 billion were given by the DGH in the last two weeks alone,” said a DGH official.

“In the last two weeks, more than 55 management committee meetings have been conducted online,” the official added.