Ashoknagar: PSU behemoth ONGC will explore two more blocks in North 24-Parganas, after successful exploration of commercially viable oil block in Ashoknagar in North 24-Parganas, 50 km from Kolkata.
These new blocks were acquired under OALP while the oil-producing block was acquired under previous NELP VII. North 24-Parganas has a huge potential of both oil and gas and can prove a big boon for the economy of West Bengal, said Union minister for petroleum and natural gas Dharmendra Pradhan on Sunday while dedicating Bengal Basin, the 8th oil-producing basin in India, to the nation.
ONGC would invest Rs 425 crore in new exploration in the next two years in the basin. It has already invested Rs 3,400 crore for developing the producing block in North 24-Parganas in the last two years. The crude from this block will be refined from Haldia refinery of Indian Oil. Pradhan also made it clear that land acquisition for new exploration would be done with the help of local government and as per its rules and regulations.
