News Release Details
Petro institute gets nod
New Delhi 09-Jul-2007
The Government has approved the proposal of setting up the Rajiv Gandhi institute of petroleum technology at Rai Bareli. Minister of Petroleum and Natural Gas Murli Deora has said that the Union Government's approval for setting up of Rajiv Gandhi Institute of Petroleum Technology at Jias, Rai Bareli District, and Uttar Pradesh is a great achievement. It's a major step towards meeting the growing need for qualified professionals in oil and gas sector. The institute will be established under an act of Parliament, Murli Deora further said that the Institute would not only churn out petroleum engineers/technologists other professionals for growth and development of Indian oil & gas industry but also cater to international market as well. He mentioned his experience during interaction with leadership of oil rich' developing countries e.g. Libya, Yemen, Sudan, Myanmar, and some other countries that have sought Indian assistance for training their oil & gas professionals in various fields of hydrocarbon value chain. The Institute will commence its academic operations by admitting students in basic undergraduate courses from the academic year 2008-09, from a rented campus. The institute will become fully operational in 2015-16. On it's becoming fully operational the Institute would have 7 B.Tech, 6 Integrated Masters Degrees, 8 M.Tech/MBA and 12 PGD and PhD programmes. The total estimated capital cost of the project is estimated to be Rs.435 crores, which would be met partially through budgetary support of Rs. 285 crores and Rs. 150 crores from Oil Industry Development Board. The total estimated recurring expenditure of Rs. 260.58 crores would be met from the accrual of interest on 'Endowment Fund of Rs. 250.00 crores to be created with the contribution of Oil Public Sector Undertakings (PSUs), student fees, donations and other earnings of the Institute through research & development, consultancies, and student's placement fees. The Institute is envisaged to be self sufficient and self-reliant by the year 2015-16.
New Delhi 09-Jul-2007
The Government has approved the proposal of setting up the Rajiv Gandhi institute of petroleum technology at Rai Bareli. Minister of Petroleum and Natural Gas Murli Deora has said that the Union Government's approval for setting up of Rajiv Gandhi Institute of Petroleum Technology at Jias, Rai Bareli District, and Uttar Pradesh is a great achievement. It's a major step towards meeting the growing need for qualified professionals in oil and gas sector. The institute will be established under an act of Parliament, Murli Deora further said that the Institute would not only churn out petroleum engineers/technologists other professionals for growth and development of Indian oil & gas industry but also cater to international market as well. He mentioned his experience during interaction with leadership of oil rich' developing countries e.g. Libya, Yemen, Sudan, Myanmar, and some other countries that have sought Indian assistance for training their oil & gas professionals in various fields of hydrocarbon value chain. The Institute will commence its academic operations by admitting students in basic undergraduate courses from the academic year 2008-09, from a rented campus. The institute will become fully operational in 2015-16. On it's becoming fully operational the Institute would have 7 B.Tech, 6 Integrated Masters Degrees, 8 M.Tech/MBA and 12 PGD and PhD programmes. The total estimated capital cost of the project is estimated to be Rs.435 crores, which would be met partially through budgetary support of Rs. 285 crores and Rs. 150 crores from Oil Industry Development Board. The total estimated recurring expenditure of Rs. 260.58 crores would be met from the accrual of interest on 'Endowment Fund of Rs. 250.00 crores to be created with the contribution of Oil Public Sector Undertakings (PSUs), student fees, donations and other earnings of the Institute through research & development, consultancies, and student's placement fees. The Institute is envisaged to be self sufficient and self-reliant by the year 2015-16.