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ONGC wins 7 oil blocks in latest bid round

22 Oct 2020 Evaluate

Oil and Natural Gas Corporation (ONGC) has won seven out of the 11 oil and gas exploration blocks offered for bidding in the latest licensing round. The government had offered 11 blocks for exploration and production of oil and gas in the fifth bid round under the Open Acreage Licensing Policy (OLAP).

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 227.65
Oil India 452.60
Jindal Drilling&Inds 515.15
Deep Industries 672.10
Asian Energy Service 398.35
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