No uranium reserves found in Assam: ONGC

Oil exploration firm Oil and Natural Gas Corporation (ONGC) has not discovered any uranium reserves in Assam while carrying out exploration work in an oilfield in the state, a top company official said.

"We have not found any uranium reserves so far but traces of some radio active element have been found. We are yet to confirm what it is," ONGC Chairman R S Sharma told reporters on the sidelines of a conference here today.

Sharma was reacting to reports carried in a section of the media that ONGC has discovered uranium during exploration work at the Borholla oilfield in Jorhat district, about 360 km east of Guwahati.

Asked what the impact would be on the company if the government hiked gas prices by 31 per cent, Sharma said that the company would then earn a revenue of Rs 1,500 crore.

"(If prices were hiked) the company expects a revenue of Rs 1,500 crore per annum," he said.