Guwahati, March 30: The Assam government has signed a deal with Oil India Limited (OIL) to lease out eight petroleum mining blocks for exploration and extraction of petroleum products.
The move is expected to yield an annual royalty of more than Rs 2,000 crore.
The petroleum mining lease deed was signed by joint secretary and director (geology and mining), Ananda Kumar Das and OIL executive director (frontier basin), Agadh Medhi on behalf of the Assam government and OIL in the presence of Assam mines and minerals minister Jogen Mohan, senior officials of the state mines and minerals department and resident chief executive, OIL, Prasanta Borkakoty here on Tuesday.
The petroleum mining lease blocks are Dibrugarh, Dibrugarh Extension, Hugrijan Extension, Borhapjan, Borhat, Moran, Dumduma Extension and Mechaki Extension.
State mines and minerals minister Mohan assured that the Assam government would provide all possible support to OIL in its quest for hydrocarbons.
He requested OIL to enhance employment generation for local people and emphasised the need for the nation’s self-reliance in energy and economic growth of the country.
OIL resident chief executive (RCE) Borkakoty thanked the minister, senior officers from the state government for their august presence and assurance of support towards facilitation of exploration and production activity of OIL.
“OIL shall make sincere efforts to achieve higher levels of excellence through concerted efforts and effective participation with all its stakeholders,” he said.
The RCE further informed about OIL’s plan to ramp up crude oil and gas production by enhancing its exploration and development programme.
