December 20, 2020, Union Petroleum Minister Dharmendra Pradhan inaugurated the oil and natural gas reserves at Ashoknagar.

[4] State-owned explorer Oil and Natural Gas Corporation took advantage of a newly prescribed policy of the centre to position Bengal on the oil and gas map of India following its discovery at the Ashoknagar block, even as the long-term commercial viability of the hydrocarbon asset remains to be ascertained.

[6] The quality of oil extracted from this basin is far superior to the Brent Crude and is at par with West Texas Intermediate which is considered[by whom?]

Oil from Ashoknagar has API[clarification needed] gravity of 40-41, which is considered to be a light variety and sought after because of the lower load it exerts on refineries.

West Texas Intermediate crude, denoted to oil lifted in the North America, has an API gravity of 39.6 degrees.

North 24-Parganas has a huge potential of both oil and gas and can prove a big boon for the economy of West Bengal, said Union minister for petroleum and natural gas Dharmendra Pradhan on Sunday while dedicating Bengal Basin, the 8th oil-producing basin in India, to the nation.