Centre Will Increase Production Of Oil & Natural Gas To 18 MMT In North-East : Union Minister HS Puri

Sep 24,2021

Centre Will Increase Production Of Oil & Natural Gas To 18 MMT In North-East : Union Minister HS Puri

On Friday, September 24, the Ministry of Petroleum and Natural Gas (MoPNG) organized an interactive meet with the industry and business leaders in Guwahati.

Titled E&P Investment Opportunities in North Eastern Region, the theme of this event is aligned to ‘Hydrocarbon Vision 2030’ for the region.
 
The event has been attended by Union Minister of Petroleum & Natural Gas, Hardeep Singh Puri; Minister of State (MoS) for Petroleum & Natural Gas, Rameswar Teli; and Assam Chief Minister, Himanta Biswa Sarma.

While addressing the media persons, Mr. Puri asserted that Union Petroleum & Natural gas Ministry has decided to increase the production of oil and natural gas from 9 MMT to 18 MMT in the North Eastern region, which indicates doubling the production of liquid hydrocarbon and natural gas in North Eastern states.

Besides, Rs 1 lakh crore have already been approved for this project and expected to be completed by 2025, Puri further added.

 
The Union Minister said that special bidding ground would also be provided into this 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).

However, three Memorandum of Understanding (MoU) have also been signed during the event.

This includes – 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.

According to ANI report, this step will play a paradigm shift in production and utilization of hydrocarbons to catalyze growth in the NE region, thereby improving the standard of living, generating opportunities for youths, and creating a sustainable energy secure future.

Besides, the programme was also attended by Policy Makers, Operators, Service Companies, Academia, Investors and Industry Chambers.