Oil India Willing to Take Over ONGC Assam Oilfields

New Delhi, Jan 31 : As Government mulls hiving off Oil and Natural Gas Corp's Assam oilfields, state-owned Oil India has said it is willing to take over the assets and can run the fields more efficiently than that the current owner.

"There is no probability, we will definitely be able to run them (Assam oilfields of ONGC) better than anyone else," OIL Chairman and Managing Director N M Borah told a news conference here.

The Ministry of Petroleum and Natural Gas has suggested that ONGC explore the possibility of hiving off its Assam assets into a wholly-owned subsidiary. The proposal is aimed at improving the productivity of ONGC’s Assam operations.

ONGC produces 1.1 million tons of crude oil annually from the Assam fields employing over 4,000 personnel. On contrast, OIL used 6,500-odd employees to produces 3.