Kohima: The Nagaland government has served an ultimatum to oil major Oil and Natural Gas Corporation (ONGC) to recommence its functioning in the state at the earliest as per the fresh agreement or give up by paving the way for others.

ONGC and other oil companies, which had own bids for exploration in the state, should expedite their part of the contract at the earliest or else give up their rights for exploration of hydrocarbons, Chief Minister Neiphiu Rio told a seminar at Dimapur.

''The state has wasted enough time and we do not want to wait any more for exploration of our wealth,'' Rio said at the seminar on "Sustainable Economic Growth through Minerals and Geo-Science", organised by state Geology and Mining Department.

Besides inking a fresh agreement with the state government about two years back to recommence its stalled exploration and production activities in Wokha district, the public sector oil giant owns two hydrocarbon structures in Nagaland during the international bidding.

However, the company which forced to abandon its production in April 1994, was yet to restart exploration activities in the state.

PTI