Baghjan Blowout Well finally abandoned

Consequent upon uncontrolled flow of Natural Gas and Blowout at Baghjan well No 5 on 27th May, 2020, all declared Emergency Situation for its internal control purposes. Today, after final abandonment of the well, the Emergency Declaration has been withdrawn with immediate effect.

All the jobs pertaining to capping, killing and final abandonment of the well was successfully completed in the evening hours on 3rd December 2020.

OIL management acknowledges the tremendous support received from all stakeholders during this period, especially the team from Mis Alert, CMT personnel from ONGCL, Indian Army, Indian Air Force, Tinsukia District Administration, Assam Police, NDRF, SDRF and all OIL Indians, who were directly or indirectly involved throughout the control operations.

OIL Management is indebted to the constant guidance and support received from the Government of Assam, Central Government and the Ministry of Petroleum and Natural Gas (MoP&NG) in particular.

OIL Management expresses its gratitude to the brave OIL Indians who laid down their lives while performing their duties at Baghjan.

OIL Management expresses its gratitude to all the residents of the nearby areas around the blowout site for their patience and support to OIL during this period. We can assure all stakeholders that all will remain a people's company with support of the residents of its operational areas. Meanwhile, OIL has already deposited the requisite amount to the office of Deputy Commissioner, Tinsukia towards compensation to all concerned as per the interim order of Hon'ble NGT and advice of DC, Tinsukia.

Shares of OIL INDIA LTD. was last trading in BSE at Rs.107 as compared to the previous close of Rs. 104.25. The total number of shares traded during the day was 194824 in over 3806 trades.

The stock hit an intraday high of Rs. 107.25 and intraday low of 104.5. The net turnover during the day was Rs. 20689329.

Source : Equity Bulls

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