Assam Company Ltd. has added one more Block AA-ONN-2005/1, the only Block in Assam Arakan basin offered under NELP-VII.
This Block was won by the company along with Oil & Natural Gas Corp. Ltd. (ONGC) and Oil India Ltd. (OIL). The company has signed Production Sharing Contract with Ministry of Petroleum and Natural Gas on 22/12/2008 along with the other consortium members, ONGC and OIL.
The company has 10% participation interest in this Block. ONGC is the operator. A.K. Jajodia, Managing Director, Assam Company said, "This Block covers an area of 363 sq. km. and has high prospect of oil and gas reserve being located in rich basin area. With the addition of this Exploration and Production asset base, the company looks forward to grow faster in its existing oil and gas business."
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