The government has cleared 25 Exploration and Production blocks out of 31 blocks for continued exploration of Oil and Gas. A decision in this regard was taken at the Cabinet Committee on Investment (CCI) meeting headed by the Prime Minister Dr. Manmohan Singh in New Delhi today.

Out of these 25 blocks, nine blocks have been fully cleared and 16 blocks have been cleared with specific conditions.

Due to clearances given at this meeting, investment already made to the extent of 2.71 billion US dollars will be put to use and further investment to the extent of 1.9 billion US dollars will be made in the exploration activities in the next 3 to 5 years.

With a view to expedite decisions on approvals and clearances, the CCI also reviewed the status of 20 projects with investment of 1000 crore or more which were pending for different types of approvals and clearances. The projects were identified in transmission, hydro and thermal sectors. Out of 20 projects of these sectors, 13 projects involving investment of about 33,000 crore rupees have been cleared while one has already been recommended by the Expert Advisory Committee of Environment Ministry for clearance. For the other two projects, Ministry of Power has decided not to move the proposal to CCI and is following up with the Coal Ministry. For remaining four projects, matter is being followed up with state governments, other Ministries and agencies for clearances.