ONGC gets green nod for Rs 240cr project in Assam
ONGC said the proposed project aims to enhance reliable hydrocarbon supplies, which will bring economic benefits and provide indirect employment opportunities to the local people and also benefit the area by way of improvement in existing infrastructure.
)
11:55 AM IST
State-owned Oil and Natural Gas Corp (ONGC) has received the green nod to drill six development wells in Assam at an estimated cost of Rs 240 crore.
The Union Environment Ministry has given the environment clearance for six development wells in five mining lease blocks in Jorhat and Golghat districts, according to an official document.
The company had sought permission for drilling 12 development wells but it received clearance for six wells at present.
The clearance, which is subject to compliance of certain conditions, has been given after taking into consideration the recommendation of a green panel.
The total mining lease area of Jorhat and Golaghat districts is 32.116 sq km and 120.5 sq km, respectively. The total project cost is pegged at Rs 240 crore.
ONGC said the proposed project aims to enhance reliable hydrocarbon supplies, which will bring economic benefits and provide indirect employment opportunities to the local people and also benefit the area by way of improvement in existing infrastructure.
The company has obtained the first stage forest clearance for the project.
ONGC is the largest producer of oil and gas in the country, contributing 72.4 per cent of the crude oil and 48.5 per cent of the natural gas production. At present, over 78 per cent of India's oil requirements are being met through imports.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
)
6 Stocks To Buy For Short Term: Analysts recommend 2 largecaps, 4 midcaps scrips for 2 weeks; Apollo Micro Systems on the list
)
10 Stocks to Buy for the Long Term: Analysts bullish on NTPC, Premier Energies, LTIMindtree & more; note down the targets
)
Gratuity Calculation: What will be your gratuity for Rs 40,000, Rs 50,000 & Rs 60,000 last-drawn salary after 6 years and 9 months of service?
)
Power of Rs 13,000 SIP: How many years will it take to generate Rs 8,00,00,000 corpus with just Rs 13,000 monthly investment?
)
8th CPC Revised Salary Estimates: IAS, IPS, IFS, IRS officers' projected salary hike calculations at 2.0, 2.25, 2.5 fitment factors
11:55 AM IST