The Lok Sabha today passed a Bill for establishing the Indian Institute of Petroleum and Energy (IIPE) in Andhra Pradesh that will impart high quality education and conduct advance research in all aspects relating to the conventional hydrocarbons.
The IIPE is being set up in Visakhapatnam at a cost of ₹650 crore as part of a package promised by the Centre to Andhra Pradesh after Telangana was carved out of it. The batch of students were admitted last year and the institute is currently functioning out of the Andhra University campus in Visakhapatnam.
Moving ‘The Indian Institute of Petroleum and Energy Bill, 2017’, Minister of State for Petroleum and Natural Gas Dharmendra Pradhan said the benefit of the institute would be accrued not only to Andhra Pradesh but India and the world as a whole.
“It will have a futuristic impact... Youth will be benefited,” he said, adding that it would cover both conventional and non-conventional forms of energy.
‘Right place’
Visakhapatnam is the right place for this institute and it holds an important position in India as Houston in America, the minister said, adding that in the coming days, Visakhapatnam, Kakinada and Rajahmundry could become the Houston of India.
To be declared as an institution of national importance, the IIPE would provide high-quality education and conduct advanced research in all aspects relating to the conventional hydrocarbons, according to the Objects and Reasons of the Bill.
Among others, the institute would actively pursue research and development in the fields such as liquefied natural gas, biofuels and renewables.
Pradhan said such a status for the institute, which began enrolling students from the last academic year, would pave the way for quality education and research needed to monetise the oil and gas resources available in the region.
Challenges
KG basin has more resources than the Mumbai gas field, he said, adding that it also had its own challenges. Quality human resources was needed to monetise the resources on offer, he told the House.
The state government has provided 200 acre land and the central government has made a provision of ₹650 crore for the institute, which is being mentored by IIT Kharagpur, he added.