ONGC to roll out new basin in Agartala
Oil and Natural Gas Corporation (ONGC) is set to roll out a new basin in Agartala by 2017 to focus more on exploration of energy sources in the North-East region. Currently, work for creation of workstation is going on and will take around a year to prepare the facility. A Basin’s main purpose will be to discover or explore oil and gas and will not be involved in producing anything. In a basin, the scientists will fetch huge data that are processed subsequently. On the other hand, an asset produces and sends products to refineries.
ONGC’s North East operations are split into two areas—Assam Shelf from Jorhat to Duliajan and Assam Fold Belt from Silchar to Agartala. The Assam Fold Belt is a complex one and is a difficult area and has mainly gas.
Oil & Natural Gas Commission was established on 14th August, 1956 as a statutory body under Oil & Natural Gas Commission Act (The ONGC Act), for the development of petroleum resources and sale of petroleum products. ONGC was converted into a Public Limited Company under the Companies Act, 1956 and named as “Oil and Natural Gas Corporation Limited” with effect from 1st February, 1994.