ONGC inches up on inking 6 contracts for DSF in offshore during DSF-III

12 Sep 2022 Evaluate

Oil & Natural Gas Corporation is currently trading at Rs. 134.25, up by 0.30 points or 0.22% from its previous closing of Rs. 133.95 on the BSE.

The scrip opened at Rs. 134.80 and has touched a high and low of Rs. 135.30 and Rs. 133.90 respectively. So far 43603 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 194.60 on 08-Mar-2022 and a 52 week low of Rs. 119.80 on 06-Jul-2022.

Last one week high and low of the scrip stood at Rs. 135.30 and Rs. 130.05 respectively. The current market cap of the company is Rs. 168512.84 crore.

The promoters holding in the company stood at 58.89%, while Institutions and Non-Institutions held 27.80% and 13.31% respectively.

Oil and Natural Gas Corporation (ONGC) has signed 6 contracts for Discovered Small Fields (DSF) in the Offshore under DSF-III bid round, with 3 each for fields in the Arabian Sea and Bay of Bengal. These include 4 contract areas as sole bidder and 2 contract areas in partnership with Indian Oil Corporation (IOCL).

The company has also signed 2 contracts for Fields under Special CBM Bid round-2021 blocks in Jharkhand and Madhya Pradesh. In the Special CBM bid round-2021 under OALP, as per provisions of the RSC, a total estimated expenditure commitment is indicated by the Contractor to the Government of India. For the 2 CBM blocks awarded to ONGC, the total investment commitment is to the tune of $5.94 million.
In the 6 DSF-III blocks awarded to ONGC (2 under JV with IOC) an investment of $1894.5 million is planned towards development in the 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.

ONGC Share Price

192.05 -1.80 (-0.93%)
29-Nov-2023 17:59 View Price Chart
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