India, June 12 -- The Ministry of Petroleum and Natural Gas has signed a tripartite Memorandum of Understanding (MoU) with the governments of Assam and Nagaland to boost domestic oil and gas exploration and production. The agreement aims to attract investments, enhance regulatory coordination, and unlock the vast hydrocarbon potential of the Northeast, including the resource-rich Assam-Arakan Basin and the Naga-Schuppen Belt.

Key Highlights Centre, Assam and Nagaland sign historic tripartite MoU for oil and gas exploration Nagaland set to resume oil and gas production after 31 years Assam holds 22% of India's crude oil reserves and 15% of natural gas reserves Agreement aims to boost investments, jobs, infrastructure and regional develop...