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Indian Govt To Set Up Institute Of Petroleum Technology

Friday October 7, 05:28 PM
http://au.news.yahoo.com/051007/3/w99k.html to this article.
NEW DELHI, Oct 7 Asia Pulse - The government plans to set up an Institute of Petroleum Technology, on lines of the famous Indian Institute of Technology (IITs), to create knowledge workers in the oil sector, Petroleum Minister Mani Shankar Aiyar said on Thursday.

"We have not given enough attention to petroleum technology," he said at an Assocham seminar on Energy Security here. ADVERTISEMENT


For India, which is 73 per cent import dependent to meet its oil requirement, to attain energy security it was crucial to strengthen its knowlede base and the government had made strides in tying up with knowledge institutes in Canada, UK, Romania, Norway, Japan, Russia and Australia. "We need a very, very strong...intellectual network," he said.

Energy security had three dimensions -- enhancing domestic output, acquiring external properties and strengthening knowledge base, he said.

"I am not satisfied by my performance, my ministry's performance and the performance of our oil companies (in acquiring oil properties abroad). We need to do a lot more to synergise oil diplomacy with attempts made by companies," Aiyar said.

He said India would be 85 per cent import dependent in 2025 to meet its oil requirement and despite doubling of gas production, the domestic output would be able to meet only half of the 400 million standard cubic meters per day of need.

To meet the deficit, the country needed to import gas through pipelines from Iran, Myanmar and Turkmenistan, he said.

(PTI)

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