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ONGC’s arm makes new discoveries in Colombia, Brazil

16 Oct 2019 Evaluate

Oil and Natural Gas Corporation’s (ONGC) wholly-owned subsidiary -- ONGC Videsh has made new discoveries in Colombia and Brazil. ONGC Videsh has recorded discoveries of oil in its onshore exploration block CPO-5, Colombia in the Llanos basin and major gas in the deep offshore exploration block BM-SEAL4, Brazil in the Sergipe Alagoas Basin.

ONGC Videsh has a significant presence in oil & gas sector of Brazil and Colombia. It holds stakes in seven exploratory 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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