Assam government signs petroleum mining lease block with HOEC, OIL, IOCL

The Assam government has signed petroleum mining leases with the Hindus­tan Oil Exploration Company, Oil India Limited (OIL) and Indian Oil Cor­po­ration Limited (IOCL). The Ministry of Mines and Minerals has committed to support these companies in executing the projects. Once commissioned, the projects will increase the state’s revenue. These companies will operate in the Dirok block (AAP-ON-94/1) on a 75 square km ar­ea, in Tinsukia district of Assam. During 2021-22, the Assam governme­nt had collected royalty of around Rs 439 million, and expects to accrue more than Rs 4.5 billion over the lifetime of the project.