ONGC to Invest Rs 13,000 Crore in Assam

Oil and Natural Gas Corporation (ONGC) will invest over Rs 13,000 crore for exploration work across Assam in the next five years.

The company said it has signed an agreement with the Assam government in this regard.

"ONGC has signed an MoU with the Government of Assam for investing more than Rs 13,000 during next five years in Assam for enhancing its exploration and production (E&P) activities," ONGC said in a release.

This investment is being made for drilling more than 220 oil and gas wells -- a mix of development and exploration ones -- across the state, it said.

"ONGC is giving impetus to its activities in alignment with the Prime Minister's call for reducing import by 10% by 2022, and the North East Hydrocarbon Vision 2030," the release said.