Oil Natural Gas Corporation (ONGC) yesterday announced that the company will invest Rs 6,000 crores in Assam for drilling 200 wells over the course of seven years in order to increase the output from the state.
S K Moitra, ONGC Director (Onshore) 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.” In the statement, he added that the company will also hire over 300 persons in the state for the project.
Moitra also stated that the proposed drilling of the wells will take place over the period of seven years starting from the current financial year. He said, “All statutory clearances are being obtained. The investment will lead to an increase in production from the state.”
According to S K Moitra, the ONGC is giving further impetus to its activities in alignment with the prime minister’s call for reducing import by 10% by 2022 and North East Hydrocarbon Vision 2030.