Another big discovery of gas, like the one in Barmer in Rajasthan, was expected in a week's time, Petroleum Minister Ram Naik, said on Monday.

But the minister declined to give any details about the discovery.

Largest onland oil discovery in India after Bombay High was made at Barmer in Rajasthan on January 15 this year and "another big discovery would be there in a week," Naik told reporters in Kochi.

"The policy of having our own oil and gas has succeeded," he said adding the world's biggest gas discovery of 2002 was in Krishna-Godavari basin.

Oil discoveries were also made in Vasai, Maharashtra, Assam and Gujarat, he added.

Naik also justified the stand taken by the government on the oil PSU divestment, saying the government decision was right.

The government had decided that it would have three flagship companies - ONGC in exploration field, IOC in marketing and GAIL in Gas distribution. Government would maintain more than 51 per cent equity in the three companies and only 10 per cent would be divested, he said.

The oil PSUs have earned a combined net profit of Rs 23,251 crore (Rs 232.51 billion) in 2002-03-- an 83 per cent increase from the previous year, he said.

The government was committed not to further increase prices of domestic LPG and kerosene, Naik said.

Naik said last year the country imported 69 per cent of crude oil at the cost of Rs 84,000 crore (Rs 840 billion).

Under the new Exploration Licensing Policy, 70 blocks had been awarded for exploration and production in the last three years, against 22 blocks awarded in previous 10 years.

It was expected that India would get oil by this year end from the Russian oil fields in which 20 per cent equity had been taken by investing Rs 8,000 crore (Rs 80 billion).

The country had invested in gas fields in Vietnam and Sudan also.

Taking into consideration that India used 80 per cent diesel and 20 per cent petrol as auto fuel, the government had now launched a pilot project for bio-diesel under which non-edible oils like Karanja and Jatropa could be blended in diesel, he said.