The operation would be carried out by Metropolitan Oil and Gas Pvt Ltd (MOPGL), New Delhi in the three villages of three district - Old Jalukie, Mhai-Dungki and Old Beisumpui.
Addressing a gathering, Zeliang said it was an important day for the district as it was entering into a new venture and during these ten years of pre-production period, the company would conduct survey to find out the availability of crude oil in the region.
During the period he said land owners would be given Rs 10,000 per sq km as land access fees while a new agreement between the land owner, government and the company would be signed once presence of crude oil was confirmed.
MOPGL director Sameer Rajpal asserted that the company was committed to conduct the operation sincerely and also assured that once works commence, the company would not only indulge in oil exploration but also take corporate social responsibilities for the development and progress of the area.
Peren is second after Changpang and Tsori oil fields in Wokha district, where after a gap of almost 20 years, resumption of oil exploration on July 21.