Oil and Natural Gas Corporation today said it will invest over Rs 13,000 crore for exploration work across Assam in the next five years. The company said it has signed an agreement with the Assam government in this regard.

“ONGC is giving impetus to its activities in alignment with the Prime Minister’s call for reducing import by 10% by 2022, and the North East Hydrocarbon Vision 2030,” the statement said.

“ONGC has signed an MoU with the Government of Assam for investing more than Rs 13,000 during next five years in Assam for enhancing its exploration and production activities,” the company said.

The company recently received green nod to drill six development wells in five mining lease blocks in Jorhat and Golaghat districts of Assam at an estimated cost of Rs 240 crore, it said. ONGC had sought permission to drill 12 such wells.

ONGC had produced 0.797 million metric tonnes of oil and 407.40 million metric standard cubic meters of gas from its operations in the state during the 2018-19 fiscal, the statement said.