ONGC gains on plan to start production from KG-D5 block by mid-2018

02 Dec 2014 Evaluate

ONGC is currently trading at Rs. 366.45, up by 2.05 points or 0.56% from its previous closing of Rs. 364.40 on the BSE.

The scrip opened at Rs. 365.40 and has touched a high and low of Rs. 370.35 and Rs. 365.40 respectively. So far 116785 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 472.00 on 09-Jun-2014 and a 52 week low of Rs. 264.00 on 04-Feb-2014.

Last one week high and low of the scrip stood at Rs. 390.60 and Rs. 363.10 respectively. The current market cap of the company is Rs. 314328.71 crore.

The promoters holding in the company stood at 68.94 % while Institutions and Non-Institutions held 17.55 % and 13.51 % respectively.

Oil and Natural Gas Corporation (ONGC) is planning to start a natural gas production from its Krishna Godavari basin KG-D5 block by mid-2018. The block (KG-D5) is divided into the Northern Discovery Area (NDA) and Southern Discovery Area (SDA). Estimated reserves of NDA are 121 million tons of oil inplace and 78 billion cubic meter of initial gas in place and that of SDA are 80.9 bcm of intial gas in place.

The company is planning  to develop the discoveries in the block in three clusters - 14.5 million standard cubic meters per day of gas for 15 years from Cluster-1 comprising of D&E finds of NDA in KG-D5 block and G-4 find in the a neighbouring area.

ONGC is an Indian multinational oil and gas company headquartered in Dehradun, India. It is India’s largest oil and gas exploration and production company. It produces around 69% of India's crude oil (equivalent to around 30% of the country's total demand) and around 62% of its natural gas.

ONGC Share Price

275.20 -1.35 (-0.49%)
14-Jun-2024 16:01 View Price Chart
Peers
Company Name CMP
ONGC 275.20
Oil India 699.60
Jindal Drilling&Inds 657.00
Hind Oil Exploration 190.90
Deep Industries 296.10
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