Oil and Natural Gas Corporation (ONGC) is planning to invest Rs 41,678 crore for bringing to production newer oil and gas fields and redeveloping ageing fields as it looks to boost output. Of total, the company will invest Rs 24,188 crore in development of six projects both on the east and west coast. Another Rs 17,490 crore will be spent on redeveloping its prime Mumbai High fields as well as Heera-South Heera fields in western offshore.
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.
