ONGC plans Rs 6,500 cr investment in NE region

New Delhi, Oct 14: Oil and Natural Gas Corporation (ONGC), the country's largest oil producer, on Tuesday, Oct 14 said it will invest Rs 6,500 crore into the North East region on upstream activity during the Eleventh Five Year Plan. ''We will be investing Rs 6,500 crore into the exploratory efforts of oil and gas in the XI Plan,'' company Chairman and Managing Director R S Sharma said at a conference on North-Eastern States Investmart.

The company has so far invested Rs 11,000 crore in the region, he said adding that substantial amount of oil and gas have been found there.

Besides upgrading its existing facilities, Mr Sharma said the company's thrust will be on finding new oil and gas.

Minister for Development of North Eastern Region and Panchayati Raj Mani Shankar Aiyar was also there.

UNI