CORPORATE WORLD

OIL loses Rs 148 cr revenue coz of well closure around Baghjan fire

Agency,
17/09/2020   0 Comments

State-owned Oil India Ltd lost Rs 148 crore in revenue in 100 days from the closure of oil and gas wells in the vicinity of the Baghjan fire in Assam, Oil Minister Dharmendra Pradhan said on Wednesday.

 
The blowout at a gas well resulted in the closure of a number of producing oil and gas wells in and around Baghjan in Tinsukia district due to protests by locals, he said in a written reply to a question in the Rajya Sabha.
 
"The closures of producing wells has resulted in an estimated revenue loss of about Rs 148 crore to the company during the period from May 27, 2020, to August 8, 2020," he said.
 
A massive fire had broken out at the gas well in May-end after gas that had been leaking for two weeks ignited, sending plumes of smoke and flames into the sky.

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