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ONGC drills 501 wells during FY17 entailing investment of Rs 15,747 crore

11 Apr 2017 Evaluate

Oil and Natural Gas Corporation (ONGC) has set a new record of drilling over 500 wells in 2016-17 at an expenditure of Rs 15,747 crore as the major state-owned explorer steps up efforts to boost domestic output. The company drilled 501 wells during FY17 compared to 386 wells in FY16. This is the first time in 23 years that ONGC has crossed the 500-well mark.

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.



ONGC Share Price

235.15 0.30 (0.13%)
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Peers
Company Name CMP
ONGC 235.15
Oil India 420.30
Jindal Drilling&Inds 550.05
Deep Industries 453.40
Asian Energy Service 350.65
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