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ONGC squeezes brownfields while scouting new offshore pools

23Aug

By Newscript News NetworkNo Comments

Oil & Gas Industry

ONGC squeezes brownfields while scouting new offshore pools

Oil and Natural Gas Corporation (ONGC) reported an 18% rise in consolidated profit in Q1 FY26, despite a 20% fall in realised crude prices to $66 per barrel. The story is one of disciplined engineering: smaller exploration finds in Mumbai Offshore, restart of the PY-3 field in the Cauvery Basin, and enhanced oil recovery projects at mature fields in Ahmedabad. Gas is becoming the strategic cushion. ONGC has brought coal-bed methane from North Karanpura to market and commenced supplies from Tripura into GAIL’s city-gas network. These incremental additions mirror international practices—Equinor in Norway and Petrobras in Brazil have likewise prioritised brownfields and small pools when prices soften. Safety remains under scrutiny after a recent fatal incident at subsidiary MRPL. Manage...

ONGC Q1 Profit Rises 18% as 35-Year Drilling High Unlocks New Finds

22Aug

By Newscript News NetworkNo Comments

News Update, Oil & Gas Industry

ONGC Q1 Profit Rises 18% as 35-Year Drilling High Unlocks New Finds

By Newscript News Network August 22, 2025 Oil and Natural Gas Corporation (ONGC) began FY26 with strong operational momentum. Consolidated net profit rose 18.2% to ₹11,554 crore, backed by a high-intensity drilling programme—578 wells in FY25, the most in 35 years—yielding nine new hydrocarbon discoveries across Mumbai Offshore, the Krishna-Godavari basin, and onshore plays. Output nudged higher: standalone crude oil rose 1.2% to 4.683 MMT, while gas held at 4.846 BCM. Near-term monetisation levers are already in play. The PY-3 joint venture field has restarted production and CBM Bokaro’s North Karanpura block began gas sales in May 2025, contributing more than ₹1,700 crore in revenue at a premium $8.26/mmbtu—~20% above APM. Diversification continues with a ₹39.42 crore helium re...

ONGC sees rare output recovery, bets on partnerships

21Aug

By Newscript News NetworkNo Comments

News Update

ONGC sees rare output recovery, bets on partnerships

By Newscript News Network August 21,2025 After nearly a decade of decline, Oil & Natural Gas Corporation (ONGC) reported a 0.9% rise in standalone crude oil output in FY25, marking its first annual production growth since 2015. Despite the uptick, ONGC’s total output has slipped from 22.53 MMT in FY21 to 20.89 MMT in FY25. To arrest the decline, ONGC has signed a framework with BP to provide technology services for the Mumbai High revitalisation, one of India’s most mature fields. “Technology partnerships are critical if ONGC is to maintain India’s upstream security,” said an energy analyst at CLSA, which recently raised its target price for ONGC to ₹360, citing eastern offshore ramp-ups and possible removal of the windfall tax. Exploration is also intensifying, with 578 w...

ONGC: Exploration Revival Meets Transition Hesitancy

18Aug

By Newscript News NetworkNo Comments

News Update

ONGC: Exploration Revival Meets Transition Hesitancy

By Special Correspondent Newscript, August 18, 2025 Oil and Natural Gas Corporation has reasserted its exploration credentials, announcing discoveries in 20 blocks with estimated reserves of 75 million tonnes of oil equivalent. These finds, coupled with a joint operating agreement with Oil India for three OALP-IX blocks, suggest India’s upstream revival may finally be gaining traction. Yet ONGC’s challenge is execution speed. Historically, the company has taken years—sometimes decades—to monetise discoveries, hampered by regulatory clearances and infrastructure gaps. Compared with Petrobras or ExxonMobil, ONGC’s development timelines remain sluggish, leaving India heavily reliant on imports despite new reserves. Financially, ONGC remains robust, but its energy transition agend...

ONGC’s ₹4,606cr Bet on the Bay: How a Slice of the Krishna–Godavari Basin Could Fuel India’s Energy Push

12Aug

By Newscript News NetworkNo Comments

Corporate Watch

ONGC’s ₹4,606cr Bet on the Bay: How a Slice of the Krishna–Godavari Basin Could Fuel India’s Energy Push

By Pallab Bhattacharya Newscript, August 12, 2025 Fig.1: Arms Of Urja Oil and Natural Gas Corporation’s latest move is not a mega-field gamble but a calculated strike on two modest offshore blocks that could quietly strengthen India’s energy security. The ₹4,606.35 crore investment in Andhra Pradesh’s Chandrika and GS-49 fields, sitting under the shallow waters of the Bay of Bengal, is about squeezing proven reserves with precision rather than chasing headline-grabbing wildcats. Ten wells, two unmanned platforms, a pipeline to shore, and an expanded onshore terminal at Odalarevu form the skeleton of the project. If all goes to plan, first gas could flow by the latter half of the decade. But before any drill bit turns, the project must pass its first—and potentially slowest—tes...

The Quiet Heat: India’s Geothermal Gamble Beneath the Himalayas

23Jul

By Pallab BhattacharyaNo Comments

Renewables

The Quiet Heat: India’s Geothermal Gamble Beneath the Himalayas

In a silent corner of Ladakh’s Changthang plateau, where the land is so dry that even the wind seems brittle, a plume of steam rises from a field speckled with goat droppings and prayer flags. For centuries, nomadic shepherds here have treated the sulphuric springs of Puga Valley as little more than natural oddities—bubbling pools that boiled yak bones and warmed cracked palms during the long, cruel winters. Now, a different kind of pilgrim has arrived. Wearing ONGC (Oil and Natural Gas Corporation ) coveralls and sporting helmets that look absurdly futuristic against the desolate backdrop, a team of geologists and engineers is drilling 1,000 meters into the Earth’s crust. They’re not looking for oil. They’re looking for heat. And in that heat, they’re hoping to find the future. ...