Union government signs MoU with Assam, Nagaland for oil and gas production
Amid the ongoing war in the Middle East and the shortage of oil and gas, the Union Government has signed a tripartite Memorandum of Understanding (MoU) with Nagaland and Assam to increase domestic exploration and production of hydrocarbons.
The MoU aims to undertake oil and mineral exploration in the disputed area belt (DAB) along the Assam-Nagaland border, where work has been stalled for more than three decades due to jurisdictional disputes.
Assam accounts for nearly 22% of the country's crude oil reserves and around 15% of its natural gas reserves.
Also Read: APSEZ bags contract for LNG export project from Argentina