An agreement was signed on. Monday between Assam Hydrocarbon and Energy Company Limited (AHECL) and Oil India Limited (OIL) for exploration and production of crude oil and natural gas in the Namrup Block. According to the Memorandum of Understanding (MoU), AHECL would receive ten percent participating interest in exploration and production of crude oil and natural gas in the Namrup Block allotted to OIL, covering an area of 125 sq km.
CM Shri @sarbanandsonwal attended the MoU signing ceremony between @OilIndiaLimited (OIL) & Assam Hydrocarbon and Energy Company Ltd (AHECL) in Guwahati.
The MoU will enable OIL to acquire a participating interest in the Namrup block under OALP-I. pic.twitter.com/PrPwbKCLxj
— Chief Minister Assam (@CMOfficeAssam) December 21, 2020
Chief Minister Sarbananda Sonowal congratulated AHECL on its first business venture since its inception in 2006 and for a tie-up with a Navaratna company. He urged OIL officials to handhold the state government-run PSU in furthering its business interests and
achieving growth. Sonowal also appreciated OIL for its success in the exploration and production of crude oil and natural gas in Assam and the Northeast, overcoming different challenges.
Assam has immense potential in the hydrocarbon sector.
I believe this partnership between OIL and AHECL will go a long way in giving a renewed push to Northeast Hydrocarbon Vision, 2030: CM
— Chief Minister Assam (@CMOfficeAssam) December 21, 2020
He stressed the need to realize Hydrocarbon Vision 2030 for Northeast formulated by Prime Minister Narendra Modi. Lauding the efforts of Numaligarh Refinery Limited (NRL) in increasing its production capacity from three metric tonnes to nine metric tonnes, he hoped that AHECL would perform well in the exploration and production of hydrocarbon
the energy in the state.
The state government has been making concerted efforts to harness Assam’s potential in the oil and natural gas sector and generate employment opportunities for the youths,
he added.
(This story has not been edited by Inside Chronicle staff and is auto-generated from PTI)
