ONGC strikes oil in Assam

Oil and Natural Gas Corp (ONGC) has discovered new reserves of oil in Assam, CMD Subir Raha said. ‘New oil bearing zone has been discovered in upper Assam. The results are very encouraging and the reserves are promising,’’ he said. The well Chang Maigaon-14 had flowed oil at the rate of 74 cubic metres per day. The new find would augment crude oil production in Assam.

India currently produces just over 32 million tonne of crude against a demand of 105 million tonne annually. He, however, did not give the reserve estimates. Separately, ONGC has also struck oil and gas in Godavari shallow offshore block GS-KW in the Bay of Bengal and Broach block in Cambay Basin in Gujarat. Raha said more wells will be drilled over the next two years to establish the reserves and bring them to production.