The Lok Sabha on Friday passed a bill to establish an Indian Institute of Petroleum and Energy in the port city Visakhapatnam in Andhra Pradesh and declare it as an institution of national importance.
The Indian Institute of Petroleum and Energy Bill will help establishing the institute that aims to provide high quality education and research focussing on the themes of petroleum, hydrocarbons and energy.
Petroleum and Natural Gas Minister Dharmendra Pradhan said the Krishna-Godavari basin could fulfil India’s energy needs for several years to come, and the challenge was to use it well.
He said the institute would become the foundation for future energy security by training professionals in the field.
“We can create a new Houston. This institute can be the seed for it,” said Pradhan.
Houston city in Texas state of the US is recognised worldwide for its energy industry.
“It will be the foundation stone for future energy security,” he said.