GSPC spent Rs 7,992.47 crore on Krishna Godavari Basin

Gujarat government today said in the state Assembly that its public sector undertaking Gujarat State Petroleum Corporation Ltd spent Rs 7992.47 crore during the last 5 years on its ambitious project of oil and gas exploration in the Krishna Godavari Basin.
The state government also said that gas production is yet to begin after spending that much money.
In his written answer to Congress MLA Tejashree Patel, Gujarat Energy and Petroleum Minister Saurabh Patel said that Rs 7992.47 crore was spent by the state-run GSPC on the Krishna Godavari Basin project during the last five years, ending on 2013-14.
The written answer was provided during the Question Hour today in the Assembly, after Congress MLA Tejashree Patel asked Gujarat Energy and Petroleum Minister Saurabh Patel to provide details about expenses incurred on gas exploration project at Krishna Godavari Basin during the last five years.

She also asked the Gujarat government to give details about the quantity of oil or gas exploited till date from the Basin.
According to Patel, Rs 1327.42 crore were spent in 2009-10, Rs 916.23 crore in 2010-11, Rs 1615.43 crore in 2011-12, Rs 2866.36 crore in 2012-13, and Rs 1231.03 crore were spent in 2013-14.

Answering the second question, Patel admitted that production of oil or gas is yet to commence in the Krishna Godavari Basin block KG/OSN/2001/3.
Earlier, Congress leaders had alleged that the BJP-led Gujarat government had misled people by giving false figures related to the Krishna Godavari Basin operations by the GSPC.

"Earlier, the government had propagated that the state run GSPC had found a huge amount of gas in KG Basin. This is nothing but a publicity stunt of the government, because we are actually making losses in KG Basin related operations," Congress leader and Leader of Opposition in the Gujarat Assembly Shankarsinh Vaghela had alleged two weeks ago.