PSAZ Act cost ONGC Rs 200 crore in two years: Cauvery Asset

Hoisting the national flag at the Cauvery Asset headquarters in Neravy, Anurag said, “After the enactment of the special agricultural zone Act in 2020, ONGC’s new drilling activity stopped.

Published: 16th August 2022 05:59 AM  |   Last Updated: 16th August 2022 05:59 AM   |  A+A A-

ONGC

Image used for representational purpose only. (File Photo)

By Express News Service

KARAIKAL: The protests fuelled by “unscientific allegations” and the enforcement of the TN Protected Agricultural Zone Development Act (PSAZ), 2020 have incurred the Oil and Natural Gas Corporation losses to the tune of Rs 200 crore in the past two years, said the firm’s Cauvery Asset Executive Director-cum-Asset Manager Anurag on Monday.

Hoisting the national flag at the Cauvery Asset headquarters in Neravy, Anurag said, “After the enactment of the special agricultural zone Act in 2020, ONGC’s new drilling activity stopped.  ONGC is bound to send the idle drilling rigs to neighbouring states. The amount lost is public money. It would have been beneficial for the nation if ONGC was allowed to perform trouble-free operations.”

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