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ONGC frames strategy to increase oil and gas output

17 Nov 2018 Evaluate

Oil and Natural Gas Corporation (ONGC) is eyeing at production enhancement contracts (PECs) and enhanced oil recovery techniques to boost oil and gas output from old and matured fields. The company plans to bring in service providers with advanced technology in operation of its oil and gas fields by offering them a PEC where they would get a pre-determined fee for incremental production over a baseline.

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.

Peers
Company Name CMP
ONGC 225.90
Oil India 449.60
Jindal Drilling&Inds 497.95
Deep Industries 675.35
Asian Energy Service 415.25
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