ONGC to invest Rs 13,000 crore in Assam to drill over 220 wells

The Oil and Natural Gas Corporation (ONGC) on Wednesday announced it will invest more than Rs 13,000 crore in exploring oil and gas by drilling over 220 wells across Assam in the next five years.

The company said in a statement that it has signed an MoU with the Assam government for enhancing its exploration and production activities in the state.

This investment is being made for drilling more than 220 oil and gas wells across the state, it said.

"ONGC is giving impetus to its activities in alignment with the prime minister's call for reducing import by 10 per cent by 2022 and Northeast Hydrocarbon Vision 2030," it added.