Oil India (OIL), a government-owned company that explores, develops and produces oil and gas, signed Memorandum of Understanding (MoU) with Assam Hydrocarbon & Energy Company (AHECL) in Guwahati on Dec.21, 2020.

The MoU is aimed at establishing a joint institutional framework to facilitate bilateral cooperation in hydrocarbon exploration & development and marketing of natural gas in the state of Assam for mutual benefit.

On the occasion, Chief Minister of Assam, praised the efforts of OIL and appreciated the contribution of the Company in the socio-economic development of Assam.

S.C Mishra, CMD, OIL, thanked Govt. of Assam for its support and guidance in enabling OIL to carry out hydrocarbon exploration, production and transportation operations in the state smoothly over decades. He reiterated the commitment of the company in furthering the hydrocarbon exploration and production activities in the state.

 Shares of the company gained Rs 1.25, or 1.23%, to settle  at  Rs 103.  The total volume of shares traded  was  227,558 at  the BSE (Tuesday).