Rs 11,591.72 cr royalty, interest due to Assam from OIL, ONGC

A total of Rs 11,591.72 crore worth of royalty and interest for crude oil for the last eight years is due from two PSU firms - Oil India (OIL) and Oil and Natural Gas Corporation (ONGC)- to Assam.
In a written reply to a query by AGP MLA Phani Bhusan Choudhury, state Mines and Minerals minister Pramila Rani Brahma said the Assam government was to get a total of Rs 13,042.60 crore from OIL and ONGC as royalty and interest for crude between April 2008 and July 2016.
"Out of this, Rs 1,449.88 crore was received last week," Brahma told the state Assembly today.

The royalty due to Assam has been calculated on pre-discounted rate, instead of the contentious post-discounted price, she said.
Among many mines and minerals, Assam currently has reserves of around 223 million tonnes of crude, 1,02,815 million cubic metres of natural gas, 370 million tones of coal, 660 million tones of limestone, 10 million tonnes of iron ore and 346.5 million cubic metres of granite as per latest surveys.
Out of them, the state was earning revenue in the form of royalty only from crude, natural gas, coal and limestone, Brahma said.
Since 2001-02 financial years, Assam has received a total of Rs 20,217.65 crore as royalty of these four items, she said.

The minister further informed the House that at present there are 43 wells for drilling crude under the control of ONGC and OIL across the state.