PSU NEWS
NRL forays into Exploration and Production
Guwahati: After consolidating its downstream business of Refining ever since commissioning of Numaligarh Refinery in October 2000, NRL is now venturing into upstream business of Exploration and Production. Ministry of Petroleum and Natural Gas, Govt. of India has accorded its formal approval to NRL for acquiring Participatory Interest in two Exploration blocks in Assam viz. Namrup block in Dibrugarh District and West Mechaki block in Tinsukia District. The Exploration blocks were earlier awarded to Oil India Ltd. (OIL) by Govt. of India on 1st of October 2018 after nationwide bidding under Open Acreage Licensing Policy (OALP) Round-I.
Namrup Block covers an area of 125 SQKM. & West Mechaki Block covers an area of 489 SQKM. OIL would be the Operator in both the blocks. Farm out Agreements for both the blocks were earlier signed with OIL. This would be NRL’s first investment in Exploration and Production.With this development, NRL would have a holistic presence across all sectors of the Oil industry viz. upstream, midstream and downstream.
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