[Assam] Assam Renewal Project? to invest Rs 2500

Wed Mar 22 07:51:27 PST 2006

ONGC to invest Rs 2500 cr in State
By A Staff Reporter (assam tribune)
 GUWAHATI, March 21  The Oil and Natural Gas Corporation Limited (ONGC) has drawn up a mega plan in the name of Assam Renewal Project to invest Rs 2500 crore in the State. Addressing a press conference here today, AK Hazarika, director (onshore) of ONGC, said that the new plan is aimed at enhancing production and revamping of old oil wells.

The old wells need immediate revamping in order to increase the production for which we have appointed an international agency to conduct a detailed survey in this regard, Hazarika said during a presentation before the reporters. In this context he informed that there are 600 oil wells scattered in various places of which 300 wells are sick. We have decided to restructure all these sick wells by applying new technology in order to boost production, Hazarika added.

Giving more details about the new plan, he said that it is expected to be completed in three years time.  Many of the surface facilities in the oil fields of Asom are more than 20 years old. Considering the future production, these surface facilities need major upgradation and expansion, he said, adding that the current production is around 1.4 MMT per annum and after revamping the wells the overall production is likely to touch 3MMT in next three years. He, however, said that frequent bandhs called by different organizations have affected the overall production of ONGC.

AK Balyan, director (HR) of ONGC who was also present in the press conference informed that several companies have been awarded licenses for exploring new areas. We have chalked out a plan to explore new areas to enhance our production. He further said that ONGC has been paying a huge chunk of revenue to the State Government, besides improving infrastructure in state.

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