Itanagar: Geology and Mining minister Kamlung Mossang on Saturday said that Arunachal Pradesh, under the leadership of chief minister Pema Khandu, is trying to transform the state into a business hub in the area of mining and hydrocarbons.
“Arunachal has immense potential for hydrocarbon resources. Most of the hydrocarbon-bearing areas still remain unexplored. These resources require systematic investigations, use of the latest technologies and significant capital investment to transform them into producing properties,” Mossang said.
The minister, however, emphasised on maintaining ecological balance which the state and its people has preserved over generations.
The minister was addressing an event organised by the ministry of petroleum and natural gas to showcase the upstream oil and gas opportunities in the Northeast here.
Mosang said Arunachal is of strategic importance for India and the government, with an intent of rapidly transforming the region has undertaken many key initiatives to augment infrastructure and expedite economic development.
The Arunachal government plans to set up a dedicated service provider hub to support the requirement of the oil, gas and mining industry in collaboration with the ministry of petroleum and natural gas, he said.
Mosang said the outlook of exploration and production business in the Northeast in general and Arunachal Pradesh, in particular, is indeed promising.
He further called upon the investors to actively participate in upcoming bidding rounds and become part of the development of the state.
The plenary session of the event was chaired by Union minister of petroleum and natural gas, Hardeep Singh Puri.
Assam chief minister Himanta Biswa Sarma, minister of state for petroleum and natural gas Rameswar Teli and the geology and mining ministers from Sikkim, Nagaland, Manipur and Mizoram took part in the event.
The objective of the conference was to highlight the portfolio of high-volume oil and gas assets of Indian sedimentary basins and to promote the bidding rounds of hydrocarbon exploration and licensing policy besides discovered small field policy.
The theme of the event was aligned to Hydrocarbon Vision 2030 for North East India, which is a paradigm shift in production and utilization of hydrocarbons to catalyze its growth in the region and improving the living standard of the people, generating opportunities for the youth and creating a sustainable energy secured future.