Oil India (OIL) has received approval from board of directors for equity contribution of upto Rs 1738 crore in line with OIL's shareholding percentage (49%) in the Joint Venture Company (JVC) with Assam Gas Company (AGCL) (51%) viz. North East Gas Distribution Company (NEGDCL) (a State Govt. Company), incorporated for executing the City Gas Distribution (CGD) projects. The Board of Directors of the Company at its meeting held on September 04, 2023, has accorded its approval for same.
Oil India (OIL), a Navratna Company, is Asia's oldest and biggest pioneer oil exploration and Production Company.