Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corp (ONGC) and Oil India are likely to receive Special PSUs incentives from government of India (GoI) for natural gas discoveries in difficult and unviable areas. This will help to increase output in a dozen fields of these companies. India currently produces about 90 million standard cubic meters per day (mmscmd) of natural gas and has ambitious plans to double output by 2022.

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.