Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corporation (ONGC) has set a new record of drilling over 500 wells in 2016-17 at an expenditure of Rs 15,747 crore as the major state-owned explorer steps up efforts to boost domestic output. The company drilled 501 wells during FY17 compared to 386 wells in FY16. This is the first time in 23 years that ONGC has crossed the 500-well mark.

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.