Guwahati, Dec 21: A Memorandum of Understanding (MoU) between Assam Hydrocarbon and Energy Company Limited (AHECL) and Oil India Limited (OIL) was today signed in presence of Chief Minister Sarbananda Sonowal at Assam Administrative Staff College.
As per the MoU, AHECL would receive ten percent participating interest in exploration and production of crude oil and natural gas in the Namrup Block allotted to OIL covering an area of 125 sq.km. It is first real business venture of AHECL since its inception in 2006.
Chief Minister Sonowal, in his speech, congratulated AHECL for such a tie up with a Navaratna Company like OIL and urged OIL officials to handhold the State Government PSU in furthering its business interests and achieving growth. He also appreciated OIL for its success in exploration and production of crude oil and natural gas in Assam and NE region overcoming all challenges.