Centre to take decision on Cairn pipeline in two weeks

4 Mar, 2008, 1857 hrs IST, PTI

MUMBAI: The Centre would take a decision on Cairn Energy pipeline in two weeks, a top petroleum ministry official said.

"The decision on Cairn pipeline will be taken in the next two weeks," Petroleum Secretary M S Srinivasan told reporters here.

An Empowered Group of Secretaries is discussing whether to allow Cairn to recover the cost of laying pipeline from its crude oil sales.

The Centre is bullish on oil services growth for the next 7-8 years, the secretary said. "Oil services sectors growth is going to be remarkable. This sector is going to witness an annual growth of 25 per cent plus for the next 7-8 years," Srinivasan said.

The growth in the oil services sector is driven by Centre's positive policy measures. "The dispensation regime is liberal," he pointed out.

The Centre has taken note of shortage of rigs supply in the market. "In the next two-three weeks, a decision would be reached on providing rig holiday. It may be given to the extent asked for," he said.