Assam signs petroleum mining lease deed with HOEC, OIL and IOC, Auto News, ET Auto

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Assam government has signed Petroleum Mining Lease deed with Hindustan Oil Exploration company Limited (HOEC), Oil India Limited and India Oil Corporation Limited (Assam oil division )

Jogen Mohan, Minister for Mines and Minerals assured that Assam Government would provide all possible support to HOEC, OIL, and IOCL in its quest of hydrocarbon. The minister said that it will enhance revenue of the exchequer and will bring prosperity to the state.

Debasis Gupta from HOEC, K.Mohan from IOCL and A. Buragohain from OIL expressed their sincere gratitude to state government. The PML Block is Dirok (AAP-ON-94/1) Mining Lease measuring an area of 75.94 in Tinsukia district of Assam which was granted for 20 years w.e.f. 25.08.2017.

Production is going on condensate and natural gas in this block. The royalty collected from this block in 2021-2022 is Rs 43.96 crores. Still now from 2017 state government received royalty about Rs.180 crores. Assam Government is expected to receive total more than 450 crores from this block.

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The 21 blocks or areas offered for exploration and production of oil and gas in Open Acreage Licensing Policy (OALP) Bid Round-VI attracted just 3 bidders at the close of bidding on October 6, 2021.

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