SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

ONGC’s arm enters into development stage with submission of DoC for block BM-SEAL-4

22 Jan 2022 Evaluate

Oil and Natural Gas Corporation’s (ONGC) wholly owned subsidiary -- ONGC Videsh has entered into the development stage with the submission of Declaration of Commerciality (DoC) for the block BM-SEAL-4, Brazil, located in the Sergipe Alagoas Basin

The company had registered a major gas discovery in 2019 in its deep offshore block BM-SEAL-4. Petrobras is the Operator of the block with 75% Participating Interest (PI) and in which partner ONGC Videsh holds 25% PI.

The block development module of Petrobras envisages the installation of a shared FPSO and a gas pipeline. The name suggested to the Brazilian regulator for the field is Budiao. The development module is presently in the contract planning phase and is expected to start production after 2026. The Consortium plans to continue all operational activities for submission of the Development Plan to the Regulator and meeting the target for the first 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.

ONGC Share Price

297.65 16.70 (5.94%)
12-May-2026 11:45 View Price Chart
Peers
Company Name CMP
ONGC 297.65
Oil India 496.60
Jindal Drilling&Inds 593.90
Deep Industries 479.30
Asian Energy Service 296.00
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×