Requested concerning the different companions, he mentioned Oil India has 70 per cent stake in Namrup block, whereas NRL has 20 per cent and personal participant Hindustan Oil Exploration Firm (HOEC) owns 10 per cent.
North East India’s largest refiner Numaligarh Refinery Ltd on Thursday mentioned it has firmed up plans to diversify into exploration of crude oil inside the subsequent few months. The Mini Ratna PSU’s board has already given its nod for an preliminary funding of Rs 150 crore for the diversification and the corporate has sought approvals for commencing exploration in two blocks in Assam together with different companions.
“That is the primary time NRL is moving into exploration. We’ve already obtained our board’s approval for this and in view of preliminary danger involvement, they’ve earmarked Rs 150 crore for the preliminary exploration functions,” NRL Managing Director S Okay Barua advised PTI in an interview right here.
The corporate will pump in extra money if oil is present in…