After the amendment to theMinesand Minerals (Development and Regulation) Act, about 46 mineral bearing blocks are set to be cancelled and the mines department has issued orders to analyse the status of the each block for either auction or exploration.
If exploration is done as per the rules by the previous title holder, then the blocks can be set aside for auction. If there was no exploration, then the same be carried out up to the level where as per MEMC Rules for giving composite licence.
The blocks pertain to leases where reconnaissance permits or prospecting licences were granted, but mining leases could not be obtained by the block owners due to lack of various approvals.
In a boost tohydrocarbon explorationin the state, land owners can now lease their plot for 15 years without having to go for land conversion. They will have to only inform the tehsildar. Earlier, companies in the hydrocarbon sector had to acquire the land from the owners hampering the speed of exploration.
The norms were changed by therevenue departmentto fast-track exploration of hydrocarbon Resources in the state.
Rajasthancontributes 22% of the crude oil produced in the country while Bombay High accounts for 40%. About 1.22 lakh barrels of oil and 4-5 million cubic metre gas are produced in the state. Agarwal said that 14 petroleum exploration leases and 13 mining leases have been awarded in the state which will add further depth to the sector in the state.
In the financial year 2020-21, the royalty revenue from the petroleum production reached to Rs 1904.79 crore against Rs 3320.10 crore in 2019-20.