ONGC will execute a Rs 456-crore exploratory drilling project in Sivasagar district of Assam. It will drill 10 wells in the petroleum lease areas - Rudrasagar, Geleki, Lakwa, Namti, Mekypore, Santak Nazira in the district. It has already received the final environment clearance for the project. In its proposal, ONGC has said that exploratory drilling of 10 wells is highly prospective where oil and gas have been discovered and produced from a large stratigraphic column. The proposed project will help establish hydrocarbons in the block, help cut the country's oil import bill and reduce the imbalance in oil production and consumption, it said. The commercial development will pump investment into Assam and will generate oil and gas revenues both for the state and the central government, it added. Tags - ONGC, ONGC Projects, ONGC Assam, ONGC Exploratory Drilling Project, Hydrocarbons, Oil Import, Oil Import in India, Oil Production, Oil Consumption, Central Government, Investment in Assam, Oil and Gas revenue India