Oil & Natural Gas Corporation Ltd.

State-owned Oil and Natural Gas Corporation (ONGC) has made a significant oil and gas discovery to the west of its prime Mumbai High fields in the Arabian Sea. The discovery has indicated potential in-place reserves of about 29.74 million tonnes of oil and oil equivalent gas.

Mumbai High, India’s biggest oil field, currently produces 205,000 barrels of oil per day (just over 10 million tonnes per annum) and the new find would add to that production in less than two years’ time.

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.