OIL & GAS

Numaligarh Refinery acquisition a step towards creating a mega company, says OIL CMD

Sushil Chandra Mishra, Chairman and Managing Director (CMD) of Oil India Limited (OIL), said that acquisition of Numaligarh Refinery Limited (NRL) is a step towards creation of mega company. Mishra, while addressing mediapersons on Tuesday, said, ” It is our dream to create a mega company and acquiring NRL is a step in that direction. ”

When asked if Oil is vying to acquire the assets of Assam asset of ONGC, Mishra said: ” There are talks in ministry level. We are keen on expanding and acquiring Exploration and production companies in Northeast India. ”

He said that by 2024 Oil plans increase its crude oil production from 3(million metric tonnes per annum)to 4 MMTPA. “For this we are targeting to increase production from five oil fields of which four are in Northeast India and one in Rajasthan. We are also targeting to increase gas production from 8 million metric standard cubic meters per day to 12 to 13. There is gas we need to increase the same. ”

He said that 25th March, 2021 was a historic day for the stakeholders of NRL and OIL, and the employees and their families of these two great Organizations.

Source
ET Energy World
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