Oil India Ltd. or OIL plan to enhance oil production from oil fields in Indian northeastern state of Assam
The newly appointed Chairman-cum-Managing Director, Nayan Moni Borah, reportedly said that the company currently produces around 3.5 million tonnes per annum, compared to around 3 million tonnes a year in the last few years.
He added that apart from operations in 11 Indian states, the company is presently engaged in exploration work in several overseas countries, such as Yemen, East Timor, Nigeria, Libya, etc. The CMD said the company would take care of the interests of the northeast and recruit skilled people from the region.
Assam has over 1.3 billion tonnes of crude oil and 156 billion cubic meters of natural gas reserves, of which an estimated 58% of these hydrocarbon reserves are yet to be explored. Assam accounts for around 50% of India's on-shore crude oil production.
Author:
Ksenia Kochneva
