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ONGC to go ahead with Assam project

May 27, 2005 18:51 IST
Source:PTI
Oil and Natural Gas Corporation would go ahead with its proposed investment of Rs 2,000 crore (Rs 20 billion) in Assam, its chairman and managing director Subir Raha said in Kolkata on Friday.

"We have problems in many states. Our rig was held up in Andhra Pradesh. We faced an agitation in Gujarat, but for this we are not going to change our investment plans," Raha said when asked whether ONGC would go ahead with its Rs 2,000 crore investment plan in Assam where matters were in doldrums.

Turning to the ongoing offshore exploration in Sunderbans in West Bengal, he said that drilling was currently on and "we have gone up to 3,000 metres. We are yet to reach 5,000 metre which is a zone of interest."

Asked about the possibility of finding oil and gas there, Raha said that it would be clear after drilling to 5,000 metres was completed.

He said that ONGC, which would spend Rs 500 crore (Rs 5 billion) for digging four wells in the Sunderbans, would not hesitate to pump in more funds if it found oil or gas there.

Source: PTI
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