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ONGC signs agreement with ExxonMobil

18 Aug 2022 Evaluate

Oil and Natural Gas Corporation (ONGC) has signed a Heads of Agreement (HoA) with global oil giant ExxonMobil Corp for exploration of oil and gas in the deepsea on the country’s east and west coasts.

The two oil explorers would focus on the Krishna Godavari and Cauvery basins in the eastern offshore and the Kutch-Mumbai region in the western offshore. Collaboration between ONGC and ExxonMobil will be a strategic fit where ONGC’s knowledge and past experience in these areas will be coupled with ExxonMobil’s global insight.

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

284.00 0.05 (0.02%)
20-Apr-2026 11:03 View Price Chart
Peers
Company Name CMP
ONGC 284.00
Oil India 468.50
Jindal Drilling&Inds 542.75
Deep Industries 487.95
Asian Energy Service 308.35
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