New Delhi, 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 accelerate domestic exploration and production (E&P) of hydrocarbons in the Northeast region.
Union Minister for Petroleum and Natural Gas Hardeep Singh Puri said the Northeast holds significant potential for oil and gas exploration, with Assam alone accounting for nearly 22 per cent of India's crude oil reserves and around 15 per cent of the country's natural gas reserves.
He highlighted that Nagaland also has considerable hydrocarbon potential in the Naga-Schuppen Belt of the Assam-Arakan Basin, an area with both naturally flowing hydrocarbon resources and large untapped ...