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ONGC signs contract with Govt for 08 oil blocks

17 Jul 2019 Evaluate

Oil and Natural Gas Corporation (ONGC) has signed exploration and production contract with the government for 08 oil blocks. The company won 8 oil & gas exploration blocks offered in latest auction. According to the Directorate General of Hydrocarbons (DGH), the company won 1 block on offer in Open Acreage Licensing Policy (OALP)-II, while in OALP-III, the company got 7 blocks.

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 224.00
Oil India 445.20
Jindal Drilling&Inds 589.75
Deep Industries 751.15
Asian Energy Service 464.15
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