State-owned ONGC may shift its proposed new basin to Cachar in Assam from Agartala, where initial work had already begun last year.
The ONGC board is likely to take a decision on the upcoming second basin of North East in the next six months.
"Cachar has lot of accrues, but the area is less explored. So we are looking at the possibility of setting up the basin in Cachar and may shift it from Agartala," ONGC Director (Onshore) Ved Prakash Mahawar told PTI here.
He, however, clarified that no final decision has been taken yet on shifting the proposed basin to Assam.
Asked by when a decision is expected, Mahawar said: "The Board may decide on this in the next six months."
In December last year, the Director had said that ONGC was working on to launch a new basin in Agartala by the end of this year to focus more on exploration of oil and gas in North East. He had informed that construction work was going on as there was no proper building to start functioning of a 'basin' in Agartala.
"We are discussing about setting up a basin in Agartala. Director of Exploration and I visited Agartala around five months ago. We checked the facilities. Currently work for creation of workstation is going on," Mahawar had said then.
ONGC's North East operations is divided into two areas -- Assam Shelf from Jorhat to Duliajan and Assam Fold Belt from Silchar to Agartala.
Silchar is the headquarters of Cachar district of Barak valley in Assam.
Assam Fold Belt has mainly gas, while there are both oil and gas in Assam Shelf.
While exploration is being done only by Assam-Arakan basin based at Jorhat, the production is divided by three Assets -- Assam Asset at Nazira, Jorhat Asset at Jorhat and Tripura Asset at Agartala.
Basin's job is to discover or explore oil and gas, but it does not produce anything.
On the other hand, an Asset exploits or produces and sends the products to refineries.
Last fiscal, ONGC's production in Assam was 0.9 million tonnes and this year it is targetted to reach the figure of 1 million tonnes.
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