The Oil and Natural Gas Corporation (ONGC) on Wednesday said it 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.

The company recently received green nod to drill six development wells in five mining lease blocks in Jorhat and Golaghat districts of Assam at an estimated cost of Rs 240 crore, it said. ONGC had sought permission to drill 12 such wells.