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Oil and Natural Gas Corporation's (ONGC) Assam asset has set in motion a multi-disciplinary approach to complete projects on time so as to double its production by 2030 from the current level of 1.21 million tonne per year. ONGC's ED-asset manager of Assam Asset, BK Baruah, said in Jorhat that more wells need to be drilled with the latest technology, emphasis has to be laid on opening up new horizons by strengthening exploration activities, a multi-disciplinary approach should be adopted to ensure faster completion of every project, here recently.
He added that it is true that the easy oil era no longer exists. The fields are ageing, reservoir pressure is reducing, environmental laws are getting stricter and therefore, we need a very cohesive and comprehensive approach to turn the corner in our favour. Baruah said the Assam Asset of ONGC had successfully met all the MoU targets for the financial year 2012-13.
This is third year in a row that the oldest asset of the company, which has been facing various constraints like ageing oilfields, depleting reservoir pressure, fierce monsoon, among others, has been able to meet all targets, Baruah said. Assam Asset saw a sharp decline in production in the past two decades. The asset saw a turnaround in 2011-12 and consolidated its position further in the last financial year.