Oil & Natural Gas (ONGC) — Announcement

📢 Key Event
ONGC spuds first deepwater well in Mahanadi Basin

💡 Investor Takeaway
This deepwater exploration could boost domestic production and reduce import reliance, supporting long-term energy security and self-reliance for shareholders.

ONGC spudded its first deepwater exploration well in the Mahanadi Basin on 25 July 2026, marking a milestone in India's offshore hydrocarbon push under the Samudra Manthan Mission. The well, MN-DW18-1-H-D, is located 23 nautical miles from Konark off Odisha and aligns with the government's vision to tap 5,600 MMTOE of offshore potential. This initiative supports India's goal of reducing import dependence and enhancing energy security through deepwater exploration.

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About Oil & Natural Gas Corporation Limited (ONGC)

Oil Gas & Consumable Fuels · Oil · Listed on NSE

Market Cap: ₹3,76,590.66 Cr P/E: 9.9 ROE: 11.0% ROCE: 14.1%

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