Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corp (ONGC) has inked a contract for the prolific Chinnewala Tibba gas field in Rajasthan, which it had discovered around 15 years ago but was taken away and auctioned by the government. The 72-square kilometer field near Jaisalmer in Rajasthan has 1,900 million standard cubic metres of reserves of the 23 fields auctioned in DSF-II.

ONGC won back five out of the 23 discovered oil and gas fields that the government took away from the state-owned firm and OIL for auctioning in the second round of discovered small field (DSF). The 23 fields, made up of some 57 discoveries by ONGC and Oil India (OIL), hold 190 million tonnes of oil and oil-equivalent gas resources.

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.