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ONGC to start oil production from deepsea project this month

13 Nov 2023 Evaluate

Oil and Natural Gas Corporation (ONGC) is planning to start oil production from its much-delayed flagship deepsea project (Cluster-2 project in KG-DWN-98/2 block) in Krishna Godavari basin in Bay of Bengal this month, helping reverse years of decline in output.

A floating production unit, called floating production, storage and offloading vessel (FPSO), which will be used to produce oil, is already in the block. Oil production from Cluster-2 should have begun by November 2021, but was delayed because of the pandemic.

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

283.35 -6.45 (-2.23%)
06-May-2026 13:53 View Price Chart
Peers
Company Name CMP
ONGC 283.35
Oil India 457.80
Jindal Drilling&Inds 526.35
Deep Industries 454.70
Asian Energy Service 306.35
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