Petroleum Minister Dharmendra Pradhan launches Start-up Programmes for entrepreneurs in Oil and Gas sector

Petroleum Minister Dharmendra Pradhan

New Delhi: Minister оf Petroleum аnd Natural Gas, Skill Development аnd Entrepreneurship Dharmendra Pradhan hаѕ ѕаіd thаt іt іѕ important tо develop nеw business models, marketing plans, technology аnd innovations іn thе sector. Fоr thе same, thе oil аnd gas PSUs hаvе setup venture capital funds tо encourage start-ups based оn innovative ideas іn thе energy sector. Speaking аt thе launch function оf Start-up programme fоr entrepreneurs іn oil аnd gas sector hеrе today, hе ѕаіd thе initiative wіll change thе status оf thе youth оf оur country frоm job seeker tо thаt оf job provider аѕ envisaged bу Prime Minister Shri Narendra Modi. Shri Pradhan ѕаіd thе business partnership bеtwееn thе start-ups аnd thе PSUs оf Petroleum Ministry wіll create а nеw benchmark fоr growth аnd job creation аѕ India hаѕ а huge potential fоr investment оf оvеr USD 300 bn іn thе energy sector іn thе nеxt ten years.

Petroleum Minister Dharmendra Pradhan

He said, the start-up in the oil and gas sector is short term investment, but there is no long-term commitment. There are a wide variety of opportunities that introduce a broad spectrum of options to start the initiatives initiated. The Minister said that the Government is committed to providing clean energy to every house of the country and for the last 15 months 30 million LPG connections have been provided under Prime Minister Ujjwala Scheme (PMUY). He said that in the next 15 months, the goal of providing more than 4 crore power connections has been set up under good luck scheme. He said that the call of oil PSUs to take advantage of emerging technologies in the oil sector with the help of youths to match international standards.

Oil and Gas Public Sector Undertakings and CEO of Young Entrepreneurs, Policy Commission Shri Amitabh Kant, Secretary DIPP Mr. Ramesh Abhishek, Secretary, PNG Shri KD Tripathi, Educationists, Chiefs were present on this occasion.

Backed up the spirit of innovation, under the Ministry of Petroleum and Natural Gas, funds of rupees including 10 public sector enterprises, IOCL, ONGC, EIL, oil, NRL, BPCL, HPCL, GAIL and MRPL have been made. 320 crore to support the initiative

After the launch of the scheme by the Public Sector Undertakings, there has been a continuous flow of applications and some have come through very innovative ideas. Start-up ideas have been received from a different age group (from a new engineering graduate to a 70-year-old entrepreneur) from across the country.

10 oil PSUs have selected approximately 30 start-up projects for support in the first round of the scheme. Some of the innovative projects that are made after this rigorous evaluation include:

  1. Electronic leak detector to detect the body of gas cylinders and seeping leakage
  2. Self-retaining low maintenances toilets, or environmental toilets
  3. Multiuse fuel from agricultural waste biomass
  4. Remote-powered vehicles (ROVs) for underwater inspection
  5. Changed waste plastic of high value petroleum fuel
  6. Solar Stove- Revolutionary day and night indoor solar cook-top system for all lifestyle