Assam state oil PSU inks pact with OIL to explore oil and gas in the state, Auto News, ET Auto


State owned oil public sector undertaking (PSU) Oil India Limited has entered into a pact with Assam Hydrocarbon and Energy Company (AHECL), a state government undertaking, for cooperation in oil and gas exploration and development as well as the marketing of natural gas in Assam.

According to the memorandum of understanding (MoU) signed between the two government owned oil majors, “The MoU is aimed at establishing a joint institutional framework to facilitate bilateral cooperation in hydrocarbon exploration and development and marketing of natural gas in the state of Assam for mutual benefit.”

OIL is the country’s second-largest state-owned explorer of oil and gas and AHECL is an Assam government firm that was established in 2006 for the exploration of hydrocarbons.

The Assam chief minister Sarbanada Sonowal who was present while the pact between the two companies was signed praised OIL and appreciated its contribution to the socio-economic development of the state.

Meanwhile, OIL chairman and managing director SC Mishra reiterated the commitment of the company in furthering the hydrocarbon exploration and production activities in the state.


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