STAFF REPORTER
GUWAHATI: Oil India Limited (OIL), the country’s second-largest national exploration & production company and Numaligarh Refinery Limited (NRL), has inked a ‘Crude Oil Sales Agreement’ (COSA) for sale and purchase of crude oil. The COSA was signed at OIL’s Pipeline Headquarters in Narengi in the city here on Thursday. Harish Madhav, Director Finance, OIL, and Indranil Mittra, Director Finance, NRL signed the agreement on behalf of OIL and NRL respectively in the presence of S.C Mishra, CMD, OIL and SK Barua, MD, NRL.
The COSA will come in effect from April 1, 2020, to March 31, 2025, to streamline sales and purchase transactions of crude oil produced from fields in North East India.