Chennai: Hindustan Oil Exploration Corporation (HOEC) said, it has been awarded the contract of exploring Umatara field in Assam in consortium with Indian Oil Corporation Limited (IOC).
A formal revenue sharing contract is likely to be signed with the government later this month. The participating interest of HOEC will be 10 pc while IOC will hold 90 pc. Umatara is located within an aerial distance of 50 km from Dirok field operated by HOEC.
