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ONGC discovers 230 million tonnes of oil reserves

02 Jul 2019 Evaluate

Oil and Natural Gas Corporation (ONGC) has discovered over 230 million tonnes of in-place oil reserves in the last three years. These reserves are spread over 16 assets it currently extracts oil from.

The company produced 21.11 million tonnes of oil in the fiscal year ended March 31 (2018-19). In the last three years, it produced a cumulative of 65.66 million tonnes of oil.

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 221.75
Oil India 446.95
Jindal Drilling&Inds 595.45
Deep Industries 769.15
Asian Energy Service 466.95
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