India’s north-eastern region is endowed with huge untapped natural resources and is acknowledged as the eastern gateway of India’s ‘Act East’ policy. National oil companies (NOCs) ONGC and Oil India Ltd (OIL) have a long history of exploration and production (E&P) activities in the region. Later, the area was opened for exploration to private/JV and foreign companies through pre-NELP, NELP, DSF and OALP rounds of biddings.
The North-Eastern Region of India has a huge hydrocarbon resource potential of 7,600 MMtoe, of which only about 2,000 MMtoe has been discovered so far. Therein lies the opportunity for monetizing the remaining 5,600 MMtoe of hydrocarbon resources.
With the Hydrocarbon Vision 2030, Govt. of India aims to doube Oil & Gas production by 2030, making clean fuels accessible, fast tracking projects, generating employment opportunities and promoting cooperation with neighbouring countries.