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55 OALP-1 winners awarded contracts for oil, gas exploration
New Delhi, Oct 1 (IANS) An impressive Rs 5,900 crore of investment has been committed for the exploration of 55 oil and gas blocks awarded through the first round of auctions under the country’s new Open Acreage Licensing Policy (OALP), Petroleum Minister Dharmendra Pradhan said on Monday.
The Minister was speaking at the contracts award ceremony where natural resources major Vedanta Ltd was awarded 41 of the 55 blocks offered through the OALP first-round auctions.
The OALP, under the new Hydrocarbon Exploration and Licensing Policy (HELP), allows the investor to carve out blocks of their choice and submit an Expression of Interest (Eol) throughout the year.
“We have received firm investment commitment of over Rs 5,900 crore in the 55 OALP-I blocks,” Pradhan said.
“We got an investment commitment of Rs 700-800 crore in the Discovered Small Field (DSF)-I round,” he said.
State-run Oil India (OIL) won nine blocks and Oil and Natural Gas Corporation (ONGC) bagged two blocks.
Two other state-run gas utility GAIL and Bharat Petroleum Corporation won one block each, while the private sector Hindustan Oil Exploration Company bagged one block.
Under HELP, the competitive bidding will be continuous and blocks awarded twice a year.
HELP replaced nine earlier rounds held under the New Exploration Licensing Policy wherein the government carved out areas for bidding.
The main features of HELP are revenue-sharing contracts, as opposed to previous profit-sharing model, single licence for both conventional and unconventional hydrocarbon resources exploration and marketing and pricing freedom.
Responding to queries later regarding land acquisition issues being faced in connection with some onshore exploration locations in Tamil Nadu, Pradhan clarifed that the contract block in Tamil Nadu awarded to ONGC on Monday is an offshore one without any such issues involved.
–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma
World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.
Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.
During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.
On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”
Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.
It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.
Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.
Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”
On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”
The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.