In a significant development at India Energy Week 2024, TotalEnergies and the Oil and Natural Gas Corporation (ONGC) have inked a Cooperation Agreement that aims to revolutionize methane emissions detection and reduction in India. The collaboration will leverage TotalEnergies’ pioneering AUSEA (Airborne Ultralight Spectrometer for Environmental Applications) technology, underscoring both companies’ commitment to environmental sustainability […]
Oil and Natural Gas Corporation (ONGC), India’s premier oil and gas company, has announced the successful commencement of ‘First Oil’ production from the KG-DWN-98/2 Block, a significant deep-water project in the Krishna Godavari Basin, located off the coast of the Bay of Bengal. Phase 2 Completion and Production Milestone Marking a major milestone, the ‘First […]
McDermott has been entrusted with a substantial contract by the Oil and Natural Gas Corporation (ONGC) for its esteemed KG-DWN-98/2 project off India’s east coast in a strategic expansion of their ongoing collaboration. The contract, valued between USD $50 million and USD $250 million, involves the crucial transportation and installation of a central processing platform […]
In a major business move set to reshape its renewable energy portfolio, the Oil and Natural Gas Corporation (ONGC) is poised to acquire a whopping 100% equity stake in PTC Energy Limited (PEL). This acquisition, which comes at an equity value of ₹925 Crore, marks a significant diversification for ONGC beyond its core E&P (Exploration […]
Indian state-owned Oil and Natural Gas Corporation (ONGC) has unveiled its latest strategic move, entering into an agreement to supply crude oil from its Mumbai offshore fields to Hindustan Petroleum Corporation Ltd (HPCL). Following its recent pact with Bharat Petroleum Corporation Limited (BPCL), ONGC now forges another significant partnership, reinforcing its commitment to term contracts […]
Aligning with India’s ambitious climate goals announced by Indian Prime Minister Narendra Modi on Independence Day, Energy Maharatna ONGC has unveiled its robust roadmap towards establishing itself as a significant low-carbon energy player. Key to this strategy is the expansion of its renewable portfolio to a striking 10GW by 2030. ONGC’s record in adopting de-carbonization […]
A fire erupted at Oil and Natural Gas Corporation Limited’s (ONGC) Rig SKP-150-Il, located at well NG#8 in the Geleky area of the Sivasagar district, on July 21, 2023. The incident, occurring around 2:50 pm, was swiftly managed by ONGC’s emergency response team, which prevented any casualties or injuries. ONGC’s quick deployment of its emergency […]
Oil and Natural Gas Corporation (ONGC) has agreed to acquire an additional stake of 23% in Mangalore SEZ (MSEZ) for INR 40.32 crores from its joint venture (JV) partner IL&FS. Mangalore SEZ is a special purpose vehicle founded in 2006. ONGC, currently holds a 26% stake and is partnered by IL&FS (50%), Karnataka Industrial Area […]
Oil and Natural Gas Corporation (ONGC) has reported a net profit of INR 11,665 crores for the third quarter of the financial year 2022-2023 (Q3 FY 23), which is a marginal increase of 0.2% compared to INR 11,637 crores in the same period of the previous financial year. In the preceding quarter, that is Q2 […]
Oil and Natural Gas Corporation (ONGC)’s fully-owned subsidiary ONGC Videsh has entered into a memorandum of understanding (MoU) with Argentine oil and gas company YPF S.A. to boost cooperation between the two firms in the energy sector. The MoU was signed by the parties during the sidelines of the maiden India Energy Week 2023 held […]
