Hindustan Oil Exploration Corporation (HOEC) said on Monday that it has been awarded the contract of exploring Umatara field in Assam in consortium with Indian Oil Corporation Limited (IOC).
A formal revenue sharing contract is likely to be signed with the government later this month. The participating interest of HOEC will be 10 per cent while IOC will hold 90 per cent.
Umatara is located within an aerial distance of 50 km from Dirok field operated by HOEC and forms part of upper Assam shelf petroleum system. The contract area extends to 52 sq km and lies southwest of giant Naharkatiya oil field. The nearest oil handling facility is at Sapkaint within 14 km.
Umatara becomes the fifth block in ever-growing HOEC’s portfolio of northeast blocks, joining Dirok, Kherem, Kharsang and Greater Dirok. Read More
Latest posts by ET Energy World (see all)
- ONGC to invest Rs 4,254 crore to drill 656 wells in Gujarat - September 17, 2019
- How should India manage its dietary patters to tackle climate change - September 17, 2019
- Saudi oil attack: Petrol, diesel rates may increase by Rs 5-6 - September 17, 2019