Oil and Natural Gas Corporation (ONGC) is investing around Rs 83,000 crore in 25 major projects to boost oil and gas production. 15 of these projects currently under execution will directly contribute to oil and gas production. The cumulative oil and gas gain from these projects is expected to be over 180 million tonne of oil and oil equivalent gas in their life cycle.
The firm produced 24.23 million tonne of crude oil in the 2018-19 fiscal year and 25.81 billion cubic metres of natural gas from its domestic fields. Another 10.1 million tonne of oil and 4.736 bcm of gas were produced from its overseas assets.
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.