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ONGC strengthens on plan to raise natural gas output to 100 mmscmd a day by 2017-18

17 Feb 2014 Evaluate

Oil & Natural Gas Corporation is currently trading at Rs. 278.10, up by 2.30 points or 0.83 % from its previous closing of Rs. 275.80 on the BSE.

The scrip opened at Rs. 276.25 and has touched a high and low of Rs. 279.90 and Rs. 276.25 respectively. So far 27258 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 353.00 on 28-Jun-2013 and a 52 week low of Rs. 234.40 on 28-Aug-2013.

Last one week high and low of the scrip stood at Rs. 285.00 and Rs. 269.25 respectively. The current market cap of the company is Rs. 237928.18 crore.

The promoters holding in the company stood at 69.23 % while Institutions and Non-Institutions held 17.28 % and 13.50 % respectively.

State-owned Oil and Natural Gas Corporation (ONGC) plans to raise its natural gas output by over 53 per cent, or about 65 million standard cubic metres (mmscmd) to 100 mmscmd a day by 2017-18 as new fields start off the west and east coasts. The incremental output will come from fields off both east and west coast.

ONGC's western offshore C-Series gas fields of C-24 and C-26 as well as Daman will produce 10 mmscmd, while another 7 mmscmd will come from GK-28/42 fields. Meanwhile, 30 mmsmcd will come from eastern offshore KG-DWN-98/2 fields and the neighboring G-4-6.

Further, it reported that C-Series gas field had proved to be more prolific than previously predicted and reserves of 30 billion cubic meters have been upgraded to 130 bcm because drilling in some of the eight structures in the C-Series field has yielded more gas.

ONGC is a premier oil and gas company in India, accounting for 71% of the country’s crude oil production and 54% of its natural gas production in 2011-12. It is also a significant producer of value added products such as liquefied petroleum gas (LPG), superior kerosene oil (SKO), and naphtha. GoI is the majority shareholder in ONGC, with a 69% equity stake as of now.

 

ONGC Share Price

283.95 1.20 (0.42%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
ONGC 283.95
Oil India 470.10
Jindal Drilling&Inds 540.15
Deep Industries 476.90
Asian Energy Service 306.05
View more..

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