Hydrocarbon Vision 2030 for North East India

Petroleum Minister Dharmendra Pradhan today informed in Guwahati, Assam that As per the Hydrocarbon Vision 2030 for North East India, a total of Rs 1,30,000 crore will be invested in the region out of which Rs 80,000 crore will be spent in Assam.

Hydrocarbon Vision 2030

Hydrocarbon Vision 2030

Also, Rs. 6000 crore will be spent this year in Assam to for implementing various plans, including capacity expansion.

As part of its plans to develop Assam’s hydrocarbon sector, the Centre will put 12 small oilfields of the state under auction along with 55 other such discoveries across the country, he added.
“All these 67 oilfields were discovered during the last 8-40 years and are with Oil India and ONGC. As these are small oilfields, they were not so financially viable. Now we are targeting to garner Rs 30,000 crore from the auctioning of these 67 blocks,” Pradhan said.

For 12 blocks in Assam, the Centre will do a roadshow here from tomorrow to attract bidders for the auction, which begins on July 15. Pradhan said the Centre is working to make North East a hub for hydrocarbons for the entire South East Asia by developing crude import infrastructure and promoting trade between the region and SAARC countries, mainly with Bangladesh, Myanmar, Nepal and Bhutan.

“North East India has four refineries with a combined installed capacity of 7 MMTPA, all of them in Assam. Our target is to expand the refining capacity of the region to 16 MMTPA,” he added.

These are really interesting development in oil sector in Assam which has not seen any major investment in last few decades. This will help galvanize various economic activities in Assam and North East India.

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