Sify.com is reporting that an Indian and a Canadian exploration consortium will be investing $100 million US dollars in exploring two new reservoirs of crude oil and natural gas discovered in the northeastern states of Assam and Nagaland, India.
An Indian petroleum ministry official said the Assam Company Limited and its Canadian partner, Canoro Resources Limited, have found oil and natural gas at two drilling blocks in Amguri near Jorhat in Assam and one at Changpang in Nagaland.
According to preliminary estimates reported by the two companies, the two reservoirs could yield up to 3,100 barrels of oil equivalent (BOE) a day, which will consist of 1,200 barrels of oil condensate and 12 million cubic feet of gas per day.
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