ONGC pushes ahead with well control operations, despite heavy rains, critical progress continues
(ONGC) continues to make progress at the site of well number
RDS#147A
, with teams working around the clock despite challenging weather conditions.
The extra-long boom crane, essential for safely removing tubing stacked in the rig derrick, has reached the well site from Guwahati on Monday. Its arrival marks a crucial step forward in clearing the rig from the well for the final capping operation.
Today's heavy and continuous rainfall created a slushy work environment, yet ONGC's Regional Crisis Management Team (RCMT), along with international experts from
Cudd Pressure Control
, remained fully engaged. Their persistent efforts are ensuring that the clearing of the remaining rig equipment continues without pause.
ONGC stated , 'As floodwaters rise, ONGC teams are actively working to keep the critical RCMT pump operational. Encouragingly, a noticeable reduction in gas pressure has been recorded, an important and hopeful sign that paves the way for a safer and more controlled capping process.
Simultaneously, mobilisation of additional specialised equipment such as the Athey Wagon, Bulldozer, etc., for the capping operation is progressing steadily, further strengthening ONGC's
operational preparedness
'.
ONGC remains fully committed to bringing the situation to a safe and successful resolution. With each milestone, the team moves closer to securing the well, backed by expertise, dedication, and the support of the local administration and community.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Time of India
10 hours ago
- Time of India
ONGC Share Price Live Updates: ONGC's returns dip over the last three months
18 Aug 2025 | 09:15:07 AM IST Discover the ONGC Stock Liveblog, your go-to destination for real-time updates and comprehensive analysis of a top-performing stock. Keep track of ONGC's latest details, including: Last traded price 237.25, Market capitalization: 298077.14, Volume: 20278, Price-to-earnings ratio 8.28, Earnings per share 28.63. Our liveblog offers a holistic view of ONGC by examining both fundamental and technical indicators. Stay ahead of market trends with breakingnews that can impact ONGC's performance. Our market analysis and expert opinions provide valuable insights to guide your investment decisions. Join us on the ONGC Stock Liveblog and stay informed in this dynamic market landscape. The data points are updated as on 09:15:07 AM IST, 18 Aug 2025 Show more
Mint
13 hours ago
- Mint
Suzlon Energy eyes order tailwinds after robust Q1
Suzlon Energy Ltd's shares have shed nearly 5% in two sessions, as its solid performance in the June quarter and meeting its guidance seemed to be eclipsed by the sudden exit of its chief financial officer Himanshu Mody. The company's Q1 results were in line with its earlier guidance of 60% growth for FY26 in key parameters, and there is optimism over its upcoming order inflow. Deliveries of wind turbine generators (WTG) were up 62% year-on-year (y-o-y) to 444 MW and earnings before interest, taxes, depreciation, and amortization (Ebitda) grew 64% to ₹603 crore. Profit after tax growth looked modest at 7%, but that was due to a non-cash charge of deferred tax this time versus nil a year ago. Profit before tax grew 52% to ₹459 crore. CFO exit clouds strong results It seems that the surprise resignation of CFO Mody, announced along with the results, did not go down well with the Street. Mody had joined Suzlon in August 2021, and his term coincided with the sharp decline in the company's net debt from ₹6,700 crore to net cash of ₹1,620 crore as on 30 June. Read more: ONGC beat Oil India in Q1, but the tables could turn soon True, the CFO's importance cannot be undermined. But Suzlon's strong balance sheet also means that the role of the chief executive officer (CEO) is more crucial now to drive the company's strategic business growth. During the earnings call, CEO J.P. Chalasani was asked about the existential threat to wind power, given that the evolution of battery energy storage systems can make solar power available round the clock. The CEO clarified that it is not possible to replace wind power entirely by storing solar power in a battery for later use, as that can put the electricity grid under pressure. Also, the right comparison for economics should be either solar to wind or solar plus battery to wind plus battery. If solar plus battery is compared to wind, then wind should work out to be cheaper, as battery storage also has a cost. Battery energy storage cost increases the cost per unit of electricity by at least one rupee per unit irrespective of the source of the energy stored, said the CEO. Note that the capital expenditure and operating expenditure for wind power plants is generally more than solar power. But these disadvantages of wind power plants are largely offset by the comparatively better capacity utilization, given that solar energy generation occurs only during the day. Read more: Muthoot Finance Q1 shines on gold loan boom; more gains likely The ministry of new and renewable energy has notified the approved list of models and manufacturers in July, mandating domestic sourcing of about 75% of WTG components, including blades, towers, gearbox, generators, etc. This should boost the order inflow for players such as Suzlon and Inox Wind Ltd. Note that Suzlon's order inflow--derived as the difference between closing and opening order book and then adding deliveries during the quarter to the figure--had peaked at 1,170 MW in Q2FY25. The stock price had also hit its all-time peak of ₹86 in September of that quarter. In Q1FY26, a sequential revival has been seen, wherein order inflow rose 38% to 780 MW, though far lower than the quarterly peak. It also helps that Suzlon has bagged a big order of 381 MW from Zelestra in the current quarter. Suzlon is indeed India's leading listed WTG company, with an annual capacity of 4.5 GW, followed by Inox Wind with a 2.5 GW capacity. But Suzlon also trades at a large valuation premium over Inox at a price-to-earnings multiple of 25x versus 16x based on earnings estimates for FY27, as per Motilal Oswal Financial Services. It appears investors are factoring in the brighter picture well, for now.
Time of India
2 days ago
- Time of India
India to tap deepwater reserves for self-reliance
New Delhi: India is set to launch a deepwater exploration mission to boost domestic oil and gas output and reduce dependence on imports, Prime Minister Narendra Modi said in his Independence Day speech on Friday. A significant portion of the national budget is spent on importing fuel, and if that were not the case, the same funds could be used to create opportunities for the youth, the poor, and farmers, Modi said. "Now we are working towards becoming self-reliant," he said. "We want to work in mission mode to search for oil and gas reserves in the sea. And so, India is going to launch a national deepwater exploration mission." The mission, he said, is an important step towards making India energy independent. In March 2015, Modi had set a goal of reducing dependence on oil and gas imports by 10% within seven years. Instead of falling, import dependence has only increased due to rising domestic consumption and declining domestic output. The country now imports about 90% of its oil and 50% of its natural gas needs, making the sector a major drain on foreign exchange reserves. Exploration success is key to boosting domestic output. However, in the past decade, explorers have made no major discoveries in the country. Deepwater exploration is a highly challenging field, requiring enormous capital and technical expertise. India currently has two producing deepwater gas blocks in the Krishna-Godavari Basin-one operated by Reliance Industries and the other by state-run ONGC . Despite various reforms over the past decade, foreign companies have largely stayed away from exploration licensing rounds. India is now hoping to attract global majors to its latest licensing opportunities after a series of recent reforms aimed at addressing their concerns. The government sees significant potential in the Andaman Sea and believes that, if the area is thoroughly explored, it could become a major contributor to India's energy output.
