Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corporation (ONGC) has drawn up a comprehensive roadmap to further intensify its exploration campaign, allocating a capital expenditure of about Rs 31,000 crore in the next three fiscal years during FY 2022-25. This is 150 per cent of its exploration expenditure of Rs 20,670 crore in the last three fiscals during FY 2019-22.

ONGC also plans to leverage international collaborations with reputed global majors for this, for which talks are in an advanced stage. This exploration intensification includes activities funded through ONGC’s internal program as well as funded and facilitated by the government.

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.