Assam Hydrocarbon and Energy Company Limited was incorporated on 5th September 2006 under the Companies Act 1956, by Govt. of Assam primarily with the objectives of exploration of hydrocarbons and other sources of energy. With an authorised capital of Rupees One Hundred Crores, the company is categorised as a "Public Company Limited by Shares".

The company is engaged in the business of producing of hydrocarbons and also to generate, harness, develop, purchase, accumulate, distribute and supply electricity by setting up hydro and thermal power plants using liquid, gaseous or solid fuels like water, gas, air, naphtha, coal, diesel oil and other petroleum products or through renewal energy sources such as solar windmill or through any other means and to supply such power either directly or through transmission lines either owned or hired.

A Memorandum of Understanding (MoU) was signed between Oil India Limited (OIL) and Assam Hydrocarbon and Energy Company Limited (AHECL) on 21.01.2020 for 10% Participating Interest (P.I.) of AHECL in the AA-ONHP-2017/2020 (Namrup-Borhat) Block in the august presence of the then Honerable Chief Minister of Assam and the Honerable Minister, Mines & Minerals Department, Govt. of Assam.

AHECL is Consortium Partner along with Oil India Limited (OIL) and Numaligarh Refinery Limited (NRL) as partners in the AA-ONHP-2017/20 (Namrup Borhat) Block.

Exploration activities are in progress in the Block.