Guwahati: North East India’s largest refiner Numaligarh Refinery Ltd today said it has firmed up plans to diversify into exploration of crude oil within the next few months.
The Mini Ratna PSU’s board has already given its nod for an initial investment of Rs 150 crore for the diversification and the company has sought approvals for commencing exploration in two blocks in Assam along with other partners.
“This is the first time NRL is getting into exploration. We have already received our board’s approval for this and in view of initial risk involvement, they have earmarked Rs 150 crore for the initial exploration purposes,” NRL Managing Director S K Barua told PTI in an interview here.