Oil India Limited signs MoU with Assam Hydrocarbon & Energy Company Limited

Oil India Limited (OIL), India's second largest National Exploration & Production Company, signed Memorandum of Understanding (MoU)with Assam Hydrocarbon & Energy Company Limited (AHECL)in Guwahati on 21st December 2020, in the presence of Shri Sarbananda Sonowal, Hon'ble Chief Minister of Assam, Shri Sum Ronghang, Hon'ble Minister of Hill Areas Development and Mines & Minerals, Govt. of Assam and Shri Ponakan Baruah, Chairman, AHECL.

Shri S. C. Mishra, CMD,OIL, Shri. V. S. Bhaskar, Additional Chief Secretary to the Govt. of Assam & Managing Director of AHECL, Shri. S. K. Barua, Managing Director, Numaligarh Refinery Limited also witnessed the signing of MoUs between the two companies.

The MoUis 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, Hon'ble Chief Minister of Assam, praised the efforts of OIL and appreciated the contribution of the Company in the socio-economic development of Assam. Shri 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 OIL INDIA LTD. was last trading in BSE at Rs.102 as compared to the previous close of Rs. 109.1. The total number of shares traded during the day was 138358 in over 2150 trades.

The stock hit an intraday high of Rs. 109.1 and intraday low of 99.9. The net turnover during the day was Rs. 14445301.

Source : Equity Bulls

Keywords