NewzVille Desk
A tripartite Memorandum of Understanding (MoU) for the exploration and production of crude oil and natural gas along the Assam-Nagaland border was signed in New Delhi on Thursday in the presence of Union Home Minister Amit Shah, Assam Chief Minister Himanta Biswa Sarma and Nagaland Chief Minister Neiphiu Rio.
Calling it a historic moment, Home Minister Shah said the agreement reflects the spirit of cooperative federalism and will significantly boost oil and gas exploration in the Northeast.
Shah said the MoU is expected to increase extraction capacity in the region by more than tenfold and strengthen India’s energy security while reducing dependence on imports.
He also noted that the agreement could open new opportunities for mineral exploration and economic growth in Assam and Nagaland.
Shah added that improved peace and stability in the Northeast in recent years have created better conditions for investment and infrastructure development.
