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Oil & Natural Gas Corporation Ltd.
BSE: 500312 | NSE: ONGC
Large Cap | Oil Exploration
243.00
-4.15 (-1.68%) ONGC applies for petroleum exploration license to discover oil fields in Samastipur, Buxar
Date: 03-06-2022Citing possibility of crude oil fields in Buxar and Samastipur districts of Bihar, Oil and Natural Gas Corporation (ONGC) has applied for the petroleum exploration license before the state government. The state mining department has initiated the process to provide a license to the company for digging in these two districts.
ONGC claimed 308.32 square km area of Ganga basin in Samastipur district and 52.1 square km area in the basin of Ganga river Buxar district may have oil fields.
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.