₹1,000 Crore Later: Ashoknagar Oil Project Nears Finish Line

Production at the Ashoknagar oil field project in West Bengal is expected to commence soon, with ONGC and the state government working closely to finalise the remaining aspects of the agreement.

Union Minister for Petroleum and Natural Gas, Hardeep Singh Puri, informed Parliament that ONGC has invested around ₹1,000 crore in the project since the oil and gas discovery in 2018. He noted that the West Bengal government has facilitated progress by leasing land to ONGC, enabling the company to move towards operational readiness. With the recent notification of the Petroleum and Natural Gas Rules, 2025, the Minister expressed optimism that outstanding issues related to stamp duty on leases and royalty payments would be resolved shortly.

The development is expected to enhance domestic energy production, strengthen West Bengal’s role in India’s oil and gas sector, and pave the way for efficient exploration and extraction at the Ashoknagar field.

News by Rahul Yelligetti.