The Union Ministry of Petroleum and Natural Gas has proposed investment of Rs 130,000 crore in1 5 years to ramp up hydrocarbon production in Northeast India.
The ministry has come out with a vision document 2030 for the hydrocarbon rich Northeast India. Union minister for petroleum and natural gas Dharmendra Pradhan on Tuesday released vision document in Guwahati. Pradhan said, ” Around 80,000 Crore will be required for upstream activities, Rs 20,000 Crore for midstream and Rs 30, 000 Crore for downstream. The refining capacity of refineries will be increased from 7 mtpa(metric tones per annum) to 16 MTPA. The minister said, “Every year we will invest Rs 10,000 Crore, mostly this investment will come will be made in Assam. These projects will be funded by the own resources of the hydrocarbon companies and in couple of projects government will assist the same with viability gap funding. ”