GUWAHATI, Nov 8 ? The Government of India has awarded the Amguri oil and gas field to a consortium comprising the Assam Company Limited and Canoro Resources Limited. As per the Government decision, the field was formally handed over to the consortium on October 29, said a press release of the Oil and Natural Gas Corporation Limited.
The release said that development of small and medium-sized fields by private sector companies was part of the liberalisation programme of the Government of India conceived in the early 1990s to attract private investment in the oil sector.
A number of fields like Ravva in the east coast, Panna, Mukta and Tapti in the west coast and Kharsang field in Arunachal Pradesh are being successfully developed by private sector companies with significant addition to oil and gas reserves, the release said.
The release revealed that in line of the Government policy, the Amguri field was offered in the second round of bidding in 1992. Offers were received from a consortium comprising Assam Company Limited and Joshi Technology limited and the field was awarded to them.
Later there was a change in the consortium with Assam Company Limited and Canoro Resources as partners, which was accepted by the Directorate General of Hydrocarbons. The Assam Government issued the petroleum mining licence to the consortium in August this year and the field was formally handed over on October 29.