Oil & Natural Gas Corporation Ltd.

Oil and Natural Gas Corporation's (ONGC) overseas arm -- ONGC Videsh (OVL) has secured another three-year extension to explore oil and gas in a Vietnamese block in the contested waters of the South China Sea. This is the eighth extension for OVL. The seventh extension to explore oil and gas was till June 15, 2023. 

The company has so far not found any commercially recoverable oil and gas reserves in the block in the 17 years it has been exploring there but has continued presence there because of India's strategic interest in the South China Sea.

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.