Oil India Limited has said that it will be able to “resolve” the gas well blowout at Baghjan in Assam by November.

At the company’s 61st annual general body meeting on Tuesday, Oil India chairman and managing director Sushil Chandra Mishra said: “We have been able to divert the gas flow. A team is arriving from Canada for the stubbing process. Everything remaining equal, we will be able resolve (the) Baghjan (blowout) by November.”

The blowout at Baghjan in Upper Assam’s Tinsukia district, around 530km from here, occurred on May 27 and is still to be controlled completely. It has affected over 8,000 local residents and the ecology of the area.

On the demand for early compensation to the affected, Mishra said they have already deposited Rs 33 crore with the Tinsukia district administration based on initial recommendations.

“We will also abide by whatever the final assessment of the National Green Tribunal on the compensation front,” Mishra said.

He also said an independent damage assessment of the local ecosystem has not been as serious as predicted but said the company will still carry out reclamation to restore the ecology.

On the company’s performance during the last fiscal, Mishra said financial year 2019-20 was a challenging one with weak economic growth, resulting in weaker demands across sectors.

“But we completed the year on a positive note, leveraging the best of available advantages and building on available opportunities, reporting a revenue of Rs 13,649 crore and profit after tax of Rs 2,584 crore,” Mishra said.

Oil India is the country’s second largest Navaratna company in terms of total proved plus probable oil and natural gas reserves.

The company’s top brass also paid tribute to three employees who lost their lives while fighting the blowout at Baghjan.

Mishra also said that Oil India has drawn up ambitious plans for the future, including fast-tracking of exploration in Arunachal Pradesh and developing the Baghewala heavy oil field in Rajasthan, besides strengthening its presence in other sectors of the hydrocarbon industry.

He reiterated Oil India’s commitment to the Atmanirbhar Bharat Abhiyan (self-reliant India programme) recently launched by Prime Minister Narendra Modi. “With a view to expedite action in this direction, OIL has created a new department ‘INDEG’ for development of items indigenously,” he said.