Guntur: Call to fight for AP’s share in oil & gas

Guntur : KG Basin Gas, Oil Sadhana Committee convenor Dr Kolla Rajamohan said the production value of oil and gas in the Krishna Godavari basin exceeds several lakh crores of rupees and the oil deposits in the coast of AP are going to change the economic structure of the country.

He addressed a meeting held under the aegis of the samithi here on Friday. He recalled that crude oil production started on January 7, 2024 from the sea bed, 30 km from Kakinada.

He urged all the political parties to mount pressure on the Centre to get AP’s share in oil and gas produced in KG Basin for the development of AP.

Amaravathi non-political JAC leader PV Mallikarjunarao said that the 12th Finance Commission said that 50 per cent of the production should be allocated to the state where the natural resources are located and added that the Parliamentary committee also opined that the local state should get 50 % of profit from natural resources.

Jai Andhra Democratic Forum secretary Avadhanula Hari appealed to the people of AP to understand the injustice done and prepare to fight for natural justice in achieving 50% of share in gas and oil.