Guwahati/ 2nd October’2017 (Prag News Desk): The Union Government finally gives environment clearance to the Oil and Natural Gas Corporation(ONGC) to drill 10 wells in Assam’s Sivasagar district.
The ONGC has informed that with the project implementation, the country’s oil import bill will have a major cut down and will reduce the imbalance in oil production and consumption. The proposed project costs Rs 456 crore and around 1.5-2.25 hectares of land are required for each well.
ONGC visions to boost commercial development not only in Assam but also to the country, ONGC produces around 70% of the country’s crude oil and around 60% natural gas.
The exploration giant ONGC produces around 70 percent of the country’s crude oil and around 60 percent of natural gas. It is involved in exploring hydrocarbons in 26 sedimentary basins of India and owns and operates over 11,000 km of pipelines in the country. Its international subsidiary, ONGC Videsh, has projects in 15 countries.