Oil & Natural Gas Corporation (ONGC) is reportedly planning to drill two exploratory wells in the Gummidipoondi block, including in Manali village. In this regard, the company is in the process of requisitioning men and material. Each well would entail an expenditure of Rs 30 crore.
ONGC is a premier oil and gas company in India, accounting for 71% of the country’s crude oil production and 54% of its natural gas production in 2011-12. It is also a significant producer of value added products such as liquefied petroleum gas (LPG), superior kerosene oil (SKO), and naphtha. Government of India (GoI) is the majority shareholder in ONGC, with a 69% equity stake as of now.
Company Name | CMP |
---|---|
ONGC | 264.55 |
Oil India | 635.40 |
Jindal Drilling&Inds | 640.25 |
Hind Oil Exploration | 192.90 |
Deep Industries | 277.80 |
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