ONGC to invest Rs 13,000 crore to drill 220 wells in Assam

ONGC to invest Rs 13,000 crore to drill 220 wells in Assam

The company said it has signed an agreement with the Assam government in this regard.

AgenciesUpdated: Thursday, September 12, 2019, 09:32 AM IST
article-image

Guwahati: Oil and Natural Gas Corporation (ONGC) on Wednesday 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," ONGC said in a release.

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 release said.

RECENT STORIES

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu..."; Here's How To Save...

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu...

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...