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ONGC to set up a new ‘basin’ in Agartala

12 Dec 2016 Evaluate

ONGC is planning to set up a new ‘basin’ in Agartala by the end of next year as it looks to focus more on exploration of oil and gas in the North-East region. Construction work is going on as earlier there was no proper building to start functioning of a 'basin' in Agartala.

ONGC’s North East operations are divided into two areas -- Assam Shelf from Jorhat to Duliajan and Assam Fold Belt from Silchar to Agartala.

ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India with current market capitalization of about $31 billion.

Peers
Company Name CMP
ONGC 221.65
Oil India 452.60
Jindal Drilling&Inds 598.50
Deep Industries 797.15
Asian Energy Service 480.45
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