In a report submitted to the oil ministry on Tuesday, a high level committee (HLC) of companies has recommended strategies to reduce import dependency. The committee was formed to discuss research-related synergies and tax issues for state-run oil companies.
The committee also explored the possibility of forming a new entity for oil services and related manpower. “It also explored the need and possibility of formation of new entity dealing with oil services and supply of qualified manpower to oil and gas sector around the world,” the ministry said in its statement.
The committee consisted of Anil Kakodkar (scientist) and Sidharth Pradhan, an expert on financial and tax issues. “They also looked into mergers, acquisitions and consolidation of oil and gas public sector undertakings (PSUs) and the joint ventures,” the ministry said in a press statement.
