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ONGC soars on plan to invest Rs 2476 crore in Vasai East field development

Oil & Natural Gas Corporation Ltd. | Oil Exploration | Oil & Gas | BSE: 500312 | NSE: ONGC

26 Mar 2014 Evaluate

ONGC is currently trading at Rs. 325.10, up by 5.00 points or 1.56% from its previous closing of Rs. 320.10 on the BSE.

The scrip opened at Rs. 319.80 and has touched a high and low of Rs. 327.70 and Rs. 318.40 respectively. So far 172606 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. 327.75 and Rs. 306.05 respectively. The current market cap of the company is Rs. 277967.87 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) will take up additional development of its Vasai East Field in Arabian Sea at a total estimated capital cost of Rs 2476.82 crore. The project, scheduled to be completed by December 2018, will result in incremental Oil production of 1.83 Million Metric Tonnes (MMT) and incremental Gas production of 1.971 Billion Cubic Metres (BCM) by 2030.

The company has received its board approval on March 24, 2014. This project will improve the Recovery factor of Vasai East field with infill wells towards north & south side of the field with two well platforms VSEB and VSEC and utilizing existing surface facilities at process platform of BPA and BCPA-2 with minor modifications.

Meanwhile, the ONGC Board, in the same meeting also approved a second interim dividend of Rs 4.25 per equity share, i.e. 85% on the equity share of Rs 5 each for the financial year 2013-14. This is in addition to an interim dividend of hundred percent (i.e. Rs. 5 per equity share of Rs 5 each) on 8,555,490,120 shares declared and paid in December, 2013. The total payout on account of this 2nd Interim Dividend would be Rs 3636.08 crore.

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

283.35 -0.60 (-0.21%)

20-Apr-2026 16:59 View Price Chart

Peers

Company Name	CMP
ONGC	283.35
Oil India	471.35
Jindal Drilling&Inds	542.35
Deep Industries	477.70
Asian Energy Service	315.25
View more..

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ONGC soars on plan to invest Rs 2476 crore in Vasai East field development

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