Public sector oil firms will invest Rs 6,000 crore in Assam during the current financial year on various activities, Petroleum Minister Dharmendra Pradhan on Friday said.
“In this fiscal, Rs 6,000 crore investment will be made in Assam by all public sector oil firms. This amount will be invested for implementing various plans, including capacity expansion. We have already started the work,” Pradhan told reporters here. The investment will be made by the companies for EMP, setting up new pipelines, expanding capacities and marketing among others, he added.
“As per the Hydrocarbon Vision 2030 for North East India, a total of Rs 1,30,000 crore will be invested in the region. Out of this, Rs 80,000 crore will be spent in Assam,” the Minister said. As part of its plans to develop Assam’s hydrocarbon sector, the Centre will put 12 small oilfields of the state under auction along with 55 other such discoveries across the country, he added.
“All these 67 oilfields were discovered during the last 8-40 years and are with Oil India and ONGC. As these are small oilfields, they were not so financially viable. Now we are targeting to garner Rs 30,000 crore from the auctioning of these 67 blocks,” Pradhan said.