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Posted at: Sep 12, 2019, 7:50 AM; last updated: Sep 12, 2019, 7:51 AM (IST)

ONGC to invest Rs13,000 cr to drill over 220 wells in Assam

ONGC to invest Rs13,000 cr to drill over 220 wells in Assam

Guwahati, September 11

Oil and Natural Gas Corporation (ONGC) today said it will invest over Rs 13,000 crore for exploration work across Assam in the next five years. The company said it has signed an agreement with the Assam government in this regard.

“ONGC has signed an MoU with the Government of Assam for investing more than Rs 13,000 during next five years in Assam for enhancing its exploration and production (E&P) activities,” the company said.

This investment is being made for drilling more than 220 oil and gas wells — a mix of development and exploration ones — across the state, it said.

“ONGC is giving impetus to its activities in alignment with the Prime Minister’s call for reducing import by 10% by 2022, and the North East Hydrocarbon Vision 2030,” the statement said.

The company recently received green nod to drill six development wells in five mining lease blocks in Jorhat and Golaghat districts of Assam at an estimated cost of Rs 240 crore, it said. ONGC had sought permission to drill 12 such wells.

The state-owned firm has discovered fuel in Babejia well under the Assam Shelf Basin during 2018-19.

ONGC had produced 0.797 million metric tonnes of oil and 407.40 million metric standard cubic meters of gas from its operations in the state during the 2018-19 fiscal, the statement said.

It is currently executing 27 projects across the country at an investment of over Rs 86,000 crore. These include 18 development and nine infrastructure projects. — PTI

To increase exploration and production 

It had recently got green nod to drill six development wells in five mining lease blocks in Jorhat and Golaghat districts of Assam at an estimated cost of Rs 240 crore

The state-owned firm has discovered fuel in Babejia well under the Assam Shelf Basin during 2018-19

ONGC had produced 0.797 million metric tonnes of oil and 407.40 million metric standard cubic meters of gas from its operations in the state during the 2018-19 fiscal

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