GSPC's drilling project gets approval form Centre's green panel

The Centre's green panel has given environment clearance to

GSPC

Ltd (GSPC) for drilling and development of 19 exploratory wells at its Ahmedabad block in Gujarat.

As per the proposal, the company will drill 14 wells and develop five already drilled ones by setting up a production facility.

The approval came after an Expert Advisory Committee (EAC) on industry, set up by the environment ministry, examined GSPC's proposal in a meeting recently.

After a detailed discussion, the EAC recommended grant of environment clearance to GSPC's project, as per the minutes of the EAC meeting.

The company has informed that the cost of drilling one well will be Rs 5 crore and the cost of a production facility would be Rs 1-2 crore.

GSPC group, with 12 companies and institutes, has presence across the entire hydrocarbon value chain.