Hyderabad, Nov 08: Reliance Industries is contemplating setting up of a School of Geophysics and geosciences in this city, given its proximity to Krishna Godavari basin and basins on the east coast that have huge oil and gas potential.
Speaking on the company's future plans for Andhra Pradesh, RIL Chairman and MD Mukesh Ambani told reporters here that "fundamentally, within India there is a need to build capacity for geophysists and geoscientist and we will seriously look at building a school in this regard at Hyderabad".
"We have spent billion of dollars on exploration. For Andhra Pradesh, whatever oil and gas we find, should first benefit the local people. It should go to the households of
the local areas which we will pursue single-mindedly", he added.
Speaking about other sources of energy, which needed to be tapped apart from oil and gas, he said there was a potential in nuclear energy, which was also related to geosciences as uranium findings have to be done.
"India is under-explored in minerals and the potential for the country is very high", he said.
On looking at other states for reserves of oil and gas apart from Krishna and Godavari, he said: "We will work as Team India to find more gas and oil reserves".
Bureau Report
