Assam CM Urges PM Modi To Transfer all Assets of ONGC in NE to OIL

Assam CM Urges PM Modi To Transfer all Assets of ONGC in NE to OIL

Assam Chief Minister Himanta Biswa Sarma has urged Prime Minister Narendra Modi to consider transferring all the assets of ONGC in the North-Eastern region to OIL. The move comes amid the petroleum ministry's directives to the former to sell a stake in producing oil fields and hive off drilling and other services into a separate firm to raise production.

Assam and Assam Arakin Basin can be considered to be a super basin of India with an estimated hydrocarbon resource of 7634 MMTOE and holds 5588 MMTOE of yet to find resource potential, which is next only to KG Basin.

CM Himanta Biswa Sarma, in his letter, stated that there should be "no issues in transfer of assets by transferring the nomination from ONGC to OIL".

"Government of India may kindly consider the transfer of all the acreages of ONGC in the North Eastern Region to OIL," said Assam Himanta Biswa Sarma in his letter to PM Narendra Modi.

"OIL is born in Assam and has been operating there over several decades. The interaction of Oil India with the local populace is commendable. It has been felt that the operations in the entire North Eastern Region may be carried out by one major operator, preferably OIL," CM Sarma added in his letter. 

He added that OIL is a company "rooted in the North Eastern and understands the nuances of the region" and With more than 90% of employees from the region, the company would be able to focus with undivided attention on the operations and at the same time be sensitive to the aspirations of local people.

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