Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corporation’s (ONGC) overseas arm - ONGC Videsh (OVL), is reportedly planning to invest $150 million in exploration this fiscal year to drill more wells in Colombia, where it just made a commercial discovery, as well as in Kazakhstan and Bangladesh. OVL, which operates the CPO-5 block of Colombia, has made a commercial discovery in its exploration well Mariposa-1.

Oil and Natural Gas Corporation (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.