Rajiv Gandhi Institute of Petroleum Technology inaugurated; to offer MBA in Petroleum Management

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MBAUniverse.com News Desk |
July 28, 2016
To nurture top managers and innovators in the field of Petroleum Technology, Sonia Gandhi laid the foundations of Rajiv Gandhi Institute of Petroleum Technology (RGIPT) at Jais near Raebareli in Uttar Pradesh on February, 20, 2008.

The Institute will commence its academic operations by admitting students from the academic year 2008-09.

To begin with, the institute will offer an MBA course in Petroleum Management and two undergraduate courses namely B. Tech. in Petroleum Production & Reservoir and B. Tech. in Petroleum Refining.

The occasion was presided over by Mr Rahul Gandhi, Member of Parliament, Mr Murli Deora, Minister of Petroleum and Natural Gas and Mr Dinsha Patel, Minister of State for Petroleum and Natural Gas were also present with senior officers of the Ministry and oil PSUs.

Government has big plans for the institute. According to the Government of India, "The Institute will become fully operational in 2015-16 and would have 7 B. Tech, 6 Integrated Masters Degrees, 8 M.Tech/MBA and 12 PGD and Ph.D programmes." 

In a recent study conducted by consultant PriceWaterhouseCoopers for Petrofed, the gap between the availability and requirement of trained manpower in India is projected to be about 36,000 by the year 2019 and the existing institutes may not be adequate to meet the increasing requirement of manpower especially the technical manpower in the petroleum sector.  

According to the government, "The New Exploration Licensing Policy has evoked great enthusiasm among foreign companies as well as Indian private and public sector companies for acquiring exploration acreages in India. As on date, only 30% of the sedimentary basins in India have been explored. It is planned to increase the exploration coverage to an extent of 100% by the year 2015." In this context, apart from technology, availability of adequate number of qualified personnel would be a prime requirement in the coming years.”  

According to the government, the total estimated capital cost of the project is Rs.435 crore which would be met partially through budgetary support of Rs. 285 crore and Rs.150 crore from Oil Industry Development Board. 

The Institute is envisaged to be self sufficient and self-reliant by the year 2015-16.

The Ministry of Petroleum and Natural Gas piloted the enactment of the Rajiv Gandhi Institute of Petroleum Technology (RGIPT) Act 2007 with a view to incorporate RGIPT as an 'Institute of National Importance' under an Act of Parliament having a governance structure as well as legal empowerment to grant degrees in a manner similar to that enjoyed by the IITs.