Centre plans to double the production of liquid hydrocarbon and natural gas in North Eastern states, informs Union Minister of Petroleum & Natural Gas, Hardeep Singh Puri.
Addressing the newspersons Mr. Puri said that his Ministry has decided to increase the production of oil and natural gas from 9 MMT to 18 MMT in the North Eastern region.
Rupees one lakh crore have been approved for this project and expected to be completed by 2025, he added.
The Union Minister said that special bidding ground would be there for the region and asked the investors to explore this region in oil and gas sector as it can provide ample opportunities for them.
Puri clarifies that there is no plans of transferring all assets of the Oil and Natural Gas Corporation (ONGC) in the northeast to the Oil India Limited (OIL).
Earlier, Puri addressed the gathering of an interactive meet with industry and business leaders today at Guwahati with the theme of “E&P Investment Opportunities in North Eastern Region” as part of the Government’s E&P industry outreach programme with the theme of event is aligned to Hydrocarbon Vision 2030 for Northeast India, which is a paradigm shift in production and utilisation of hydrocarbons to catalyse growth in the North East region.
Three Memorandum of Understanding signed at the event; Assam Hydrocarbon Energy Co. Ltd with Vedanta Ltd & ONGC and Assam Mineral Development Corporation Ltd with the Kiri Group.
Assam Chief Minister Himanta Biswa Sarma and Ministers from Arunachal Pradesh, Manipur, Mizoram, Nagaland and Sikkim also took part in the plenary session.
The programme had a gathering of Policy Makers, Operators, Service Companies, Academia, Investors and Industry Chambers.
The event was also graced by Union MoS for Ministery of Petroleum & Natural Gas, Rameshwar Teli.