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To boost the economic prosperity of the people of the North East, Energy Maharatna ONGC and Assam Hydrocarbon & Energy Company Limited (AHECL) signed a Memorandum of Understanding (MoU) on 24 September 2021. The MoU on “E&P Investment Opportunities in North Eastern Region” was signed during the Directorate of Hydrocarbon (DGH) Meet in Guwahati of Assam. The signatories to the MoU were Director Onshore Anurag Sharma on behalf of ONGC and Principal Secretary of the Assam government K K Trivedi on behalf of AHECL.

ONGC Director (Onshore) Anurag Sharma (R) and Principal Secretary of the Assam government K K Trivedi with signed MoU
ONGC Director (Onshore) Anurag Sharma (R) and Principal Secretary
of the Assam government K K Trivedi with signed MoU

Director (Onshore) noted that the North East region has seen tremendous growth over the years in terms of infrastructure development, improvement in connectivity with new sea ports, rail links and roads; thereby paving the way for industrial development.

“The North East region has been the cradle for Oil and Gas Sector of India. Oil discovery in Digboi in 1889 is a part of folklore every oil and gas professional in India is aware of. ONGC has carried out extensive Geological and Geophysical surveys in the Assam Valley since 1959. In Assam, ONGC discovered Rudrasagar in 1960, Lakwa in 1964 and Geleki in 1968, followed by discoveries in Lakhmani, Amguri, Charali, Borholla, Khoraghat, etc.” said Director (Onshore).

Mr Sharma informed the gathering that the estimated hydrocarbon resources of A&AA Basin is 7634 MMTOE of which Assam Shelf holds 6001 MMTOE and Assam Arakan Fold Belt 1633 MMTOE. The estimated hydrocarbon resources in ONGC operated Acreages of Assam Shelf  is 2564 MMTOE, out of which 787.11 MMTOE (3P) has been established as on 1 April 2021 and a considerable potential of 1,776.9 MMTOE still remains to be tapped.

Director (Onshore) speaking on the occasion
Director (Onshore) speaking on the occasion

He said that the two oil majors ONGC and OIL both have faced tremendous challenges in past to mobilize resources in the North East region. “However, now with the proactive support and encouragement from Government of India and State Governments, many new E&P companies are also lining up for operations in the region. It’s a welcome change, as it opens more opportunities for collaboration, knowledge exchange and resource management,” Director (Onshore).

Over ONGC’s endeavor for sustainable growth, Director (Onshore) said, “ONGC believes in sustainable development and has spent more than Rs 500 crores in the North Eastern region through its CSR activities in the areas of Public Health, hygiene, sanitation, drinking water, education, public utilities and skill development. A 300 bedded multispecialty hospital (Swargdew Siu Ka Pha Multispeciality Hospital) has been established at Rajabari in Sivasagar District at a cost of over Rs.300 Crore to provide affordable and quality medical facility to the local people.”

The national oil company ONGC possesses significant and proven expertise and resources in the field of petroleum exploration. It has been the key player behind development, production and transportation of crude oil and natural gas for several decades. On the other hand, AHECL, an undertaking of the Assam government, , is engaged in the business of producing hydrocarbons. AHECL generates, develops, purchases, accumulates, distributes and supplies electricity by setting up hydro and thermal power plants. The company is also engaged in the business of renewable energy, energy efficiency, etc.

Both the companies have come together to increase the economic prosperity and development of the people of Assam and wish to explore, develop and market natural hydrocarbon resources in the state.

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