After Tripura and Assam, Nagaland has emerged as a potential hydrocarbon reserve in India, for which exploration giant Oil and Natural Gas Corporation (ONGC) has shared the draft memorandum of understanding (MoU) with the state government to begin exploration work, ONGC Chairman and Managing Director Shashi Shanker told media here on Wednesday.
He said ONGC has been working in a mission mode to transform Northeast economy in accordance with the vision of Prime Minister Narendra Modi. The Northeast is floating on a huge hydrocarbon reserve, having potential to ensure a clean source of fuel and energy for the whole region, he added.
Nagaland has found huge hydrocarbon reserves of around 500 million metric ton in a preliminary survey. To start the exploration work, ONGC and the Government of Nagaland have been working in a positive direction and hope to finalise the process very soon, he stated.
“The Indradhanush Gas Grid Ltd is an ambitious project which aims to connect the entire Northeast region through pipeline to evacuate gas and transmit to the rest of the country and commercial projects as well as bring gas from outside the region if required. The project will bring a massive change in the life and economy of the region and bring more investment,” Shanker pointed out.
Under the project, Gas pipeline of 1,600 kilometre is being laid across the northeast at a cost of about Rs 10,000 Cr and is expected to be completed by 2021-22. It would be connected to nationwide gas grid network, he added.
Another 1700 kilometre pipeline is planned to be laid beyond the northeast to connect the region with the national gas network and make the region self-sufficient in gas supply.