ONGC news & stock notes

01 Aug 2026

ONGC plans to drill 150 deepwater wells over seven years under the 84,084 crore rupee Samudra Manthan scheme approved on 31 July.

The scheme funds 60 deepwater exploration wells against a 43,200 crore rupee allocation, and government support covers up to half the eligible drilling cost capped at 675 crore rupees per well, which moves part of the dry-hole risk off the operator and onto the scheme.

25 Jun 2026

ONGC and bp signed a technical services contract to lift output from the Western Offshore Basin, ONGC's largest producing field, extending a tie-up that began with Mumbai High in February 2025.

ONGC keeps full ownership and operating control while bp brings technology and global operating practices to the ageing fields.

10 Jun 2026

Oil India, ONGC, Hindustan Oil Exploration and Vedanta have asked PNGRB to lift curbs blocking integration of common-carrier and regional gas pipelines.

Connecting the networks could free nearly 10 percent of India's gas output stranded for want of evacuation, cutting import reliance and lifting upstream producers' realisations.

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