Assam inks mining lease pact with OIL in 8 blocks

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The Assam government on Tuesday signed a Petroleum Mining Lease (PML) blocks with oil sector PSU major Oil India Ltd (OIL) for exploration of petroleum products in eight blocks, expecting an annual royalty of over Rs 2,000 crore, officials said.

Assam government’s Geology and Mining Department Director Ananda Kumar Das, and OIL’s Executive Director (Frontier Basin) Agadh Medhi signed the deal in presence of state’s Mines and Minerals Department Minister Jogen Mohan, and other senior officials.

The 8 PML blocks are Dibrugarh, Dibrugarh Extn, Hugrijan Extn, Borhapjan, Borhat, Moran, Dumduma Extn and Mechaki Extn.

The Minister said that the Assam Government is expected to receive more than Rs 2,000 crore royalty from OIL annually for the pact.

He told the OIL officials that the Assam government would provide all possible support to the company in its quest for hydrocarbons.

Jogen Mohan requested OIL to enhance the employment generation to the local people.

OIL’s Resident Chief Engineer Prasanta Borkakoty said that the company has planned to ramp up crude oil and gas productions by enhancing its exploration and development programme.

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