Thursday, December 8 2005 13:33 Hrs (IST) - World Time -

New Delhi: Government today (Dec 8,2005) lauded Oil and Natural Gas Corporation (ONGC) for arresting the decline in oil production by pumping in huge investments for exploration and production activities but pulled it up in the Lok Sabha for failing to fulfil its social responsibilities.

"I compliment the ONGC for arresting the decline in oil production from existing oil fields and maintain the current level of production. In the next 6-7 years the current production level of 27 million tonnes will come down to 19-20 million tonnes," Petroleum Minister Mani Shankar Aiyar cautioned in reply to a question.

Emphasizing on the need for complementing the domestic efforts with foreign direct investment, Aiyar said private and foreign investment would help increase the domestic crude production by eight million tonnes in the next 5-6 years.

Besides there would be a significant gas production in KG basin also due to contribution of Reliance and Niko.

Replying to another query, the Minister, however, regretted that the corporation had not done much in the area of corporate social responsibility and its expenditure under the head had come down significantly.

Although ONGC had announced last year to take up social responsibility projects in around 25 of its isolated and marginal oil fields, it has just started some work in Tripura only, he said and pointed out that the corporation was supposed to spend 0.57 per cent of its net profit in a year towards its corporate social responsibilities but actual expenditure was substantially low.