ONGC will hold a meeting of the Board of Directors of the Company on 31 January 2025.Powered by Capital Market - Live News

Bharat Heavy Electricals (BHEL) and  Oil & Natural Gas Corpn (ONGC) have signed an MoU for exploring joint projects and collaboration in the area of New and Renewable Energy business, including Fuel Cell, Electrolyser and Battery Energy Storage System based Projects. This MoU will help in contributing towards the country`s National Green Hydrogen Mission, as well as leveraging the combined strengths of both organisations for collaborating in emerging areas within the clean energy ecosystem.Powered by Capital Market - Live News

Mumbai High (MH) is an Oil Producing Field of the Company, located in the Mumbai offshore area, was discovered by Oil & Natural Gas Corpn in 1974 and started production in 1976. While the Company focuses on unlocking the potential of new hydrocarbon resources through green-field projects, enhancing recovery from mature fields like MH also remains a top priority for increasing domestic production.The Company had issued an International Competitive Bidding (ICB) tender on June 1, 2024 to engage a Technical Services Provider (TSP) for Mumbai High Field with expertise in managing complex mature reservoirs and implementing advanced recovery technologies and best operational practices. Through this ICB tender, the Company invited bids from international operators with proven technical expertise, financial strength, and a track record in similar projects.After the bid evaluation process, BP Exploration (Alpha), a wholly-owned step-down subsidiary of BP Plc, UK has been selected as the TSP. The TSP will review the field performance & identify improvements in reservoir, facilities and wells to enhance the production from MH field. The TSP has indicated a substantial increase in O+OEG production (up to 60%) from baseline production levels (reputed third-party vetted production estimates with natural decline) over 10 years contract period. Powered by Capital Market - Live News

Oil & Natural Gas Corpn announced that Dr. Prabhaskar Rai (DIN: 09453169), ceased to be Independent Director of the Company with effect from 27 December 2024 upon completion of his tenure of three years. Powered by Capital Market - Live News

Oil & Natural Gas Corpn has been allotted 490,62,03,065 nos. of equity shares of Rs 10/- each by ONGC Petro additions (OPaL) by way of subscription of shares on right basis. Upon the said allotment, shareholding of the Company in OPaL has increased from 94.57% to 95.69%.Powered by Capital Market - Live News