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ONGC to invest Rs 6,000 crore in drilling wells in Assam

7 January, 2019 3:20 AM
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ONGC to invest Rs 6,000 crore in drilling wells in Assam

State-run oil behemoth ONGC on Sunday said it will pump in Rs 6,000 crore in drilling 200 wells over the next seven years in Assam in order to increase the output from the state.

The investment will take place Sivasagar and Charaideo districts of Upper Assam, besides planning to hire over 300 persons in the state, ONGC Director (Onshore) S K Moitra said.

"The ONGC would be investing about Rs 6,000 crore in drilling 200 developmental wells across fields under ONGC Assam Asset in Sivasagar and Charaideo districts," Moitra said in a statement.

The wells are proposed to be drilled during the next seven years starting from the current financial year, he added.

"All statutory clearances are being obtained. The investment will lead to increase in production from the state," Moitra said.

The ONGC is giving further impetus to its activities in alignment with the prime minister's call for reducing import by 10 per cent by 2022 and North East Hydrocarbon Vision 2030, he added.

Source: moneycontrol.com

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