Latest news with #OilandNaturalGasCorporationLimited
Business Upturn
14 hours ago
- Business
- Business Upturn
ONGC and Oil India sign JOA for three blocks awarded in OALP round IX
Oil and Natural Gas Corporation Limited (ONGC) and Oil India Limited (OIL) have taken a major step forward in India's energy exploration efforts by signing a Joint Operating Agreement (JOA) for three key blocks. The agreement, finalized on August 12, 2025, at ONGC's Deendayal Urja Bhavan in New Delhi, covers two onshore blocks and one ultra-deepwater block awarded under the Open Acreage Licensing Policy (OALP) Bid Round-IX. The blocks are strategically located across vital sedimentary basins in India, including Meghalaya in the Assam Basin, Gujarat in the Cambay Basin, and an offshore area in the Mahanadi Basin. Together, these blocks cover an extensive area of approximately 10,964 square kilometers. ONGC will serve as the Operator of the consortium, leading exploratory activities to assess and unlock the hydrocarbon potential of these regions. The signing ceremony witnessed the presence of top officials, including Mr. Saloma Yomdo, Director (Exploration & Development) of Oil India; Mr. Arunangshu Sarkar, Director (Strategy & Corporate Affairs) of ONGC; and Mr. Om Prakash Sinha, Director (Exploration) of ONGC. This collaboration marks a significant milestone in India's pursuit of energy security. By combining expertise and resources, ONGC and OIL aim to boost hydrocarbon production and contribute substantially to the country's long-term energy goals. The JOA exemplifies the growing partnership within India's energy sector and underscores the commitment to tapping into domestic energy resources to meet rising demand. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
Time of India
2 days ago
- Business
- Time of India
ONGC plans ₹4,600-crore investment for oil and gas project in Andhra Pradesh
State-owned oil and gas firm, Oil and Natural Gas Corporation Limited (ONGC), is investing over ₹4,600 crore to develop oil and gas reserves in the Konaseema District of Andhra Pradesh, reports news agency PTI. The project includes drilling 10 development wells and establishing new infrastructure, and is currently awaiting environmental clearance from the Ministry of Environment and Forests. According to the minutes of a meeting held on July 24 by the Ministry's Experts Appraisal Committee (EAC), ONGC has submitted an application for fresh environmental clearance. The proposed development is part of the Discovered Small Field-III (DSF-III) programme, under which ONGC was awarded contracts for two offshore areas: KG/OSDSF/CHANDRIKA/2021 (Chandrika) and KG/OSDSF/GS49/2021 (GS49) in September 2022. The project's scope is extensive, encompassing the setup of two unmanned platforms, the laying of an offshore pipeline, and the creation of an onshore gas processing facility at Odalarevu Terminal. A total land area of 26.3 hectares is required for the installation, with 8.7 hectares earmarked for a greenbelt. The company has also outlined a budget for environmental management, with a capital cost of ₹14 crore for the Environmental Management Plan and a recurring annual cost of ₹3 crore. This is not the first time the proposal has been before the EAC. The committee had considered it in February but deferred it, requesting additional information from ONGC. In its most recent meeting, the EAC once again deferred the proposal, seeking further details. The committee has advised ONGC to conduct a comprehensive biodiversity assessment to evaluate the impact of the drilling activities and to prepare a detailed environmental restoration action plan with a dedicated budget. The project is expected to create employment opportunities, generating 150 direct jobs and an additional 310 indirect jobs.>
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Business Standard
2 days ago
- Business
- Business Standard
ONGC to invest ₹4,600 crore to drill 10 wells, other infra in KG Basin
The oil and gas major ONGC will be investing over ₹4,600 crore to drill 10 development wells, to set up two unmanned platforms, to lay an offshore pipeline, and to establish an onshore gas processing facility in Konaseema District of Andhra Pradesh. Oil and Natural Gas Corporation Limited (ONGC) has approached the Ministry of Environment and Forests seeking fresh environmental clearance for the proposed project, an Experts Appraisal Committee (EAC) under the ministry said in the minutes of its meeting held on July 24. Letter of Award (LOA) for Offshore Oil and Gas Contract areas KG/OSDSF/CHANDRIKA/2021 (Chandrika) comprising an area 697 sq km and KG/OSDSF/GS49/2021 (GS49) comprising an area of 148 sq km in East coast were issued by Director General of Hydrocarbons in September 2022 under under DSF-III (Discovered Small Field-III). "Total land area required is 26.3 hectares (Odalarevu Terminal) for the proposed installation. Greenbelt will be developed in a total area of 8.7 hectares, i.e., 33 per cent of total project area. The estimated project cost is ₹4,606.35 crores," EAC said. "Capital cost of EMP (Environmental Management Plan) would be ₹14 crores and recurring cost for EMP would be ₹3 Crores per annum. Industry proposes to allocate ₹14 Crores towards Extended EMP (Corporate Environment Responsibility), the EAC has added. A development well is drilled in a proven area to produce oil or gas. These wells are drilled after exploration and appraisal drilling have confirmed the presence of commercially viable reserves. The project is expected to generate direct employment to 150 people and 310 indirect jobs. The proposal was earlier considered by the EAC in its meeting held during in February this year wherein the panel deferred the proposal and desired certain requisite information/inputs from the ONGC. The EAC in the latest meeting deferred the proposal seeking some more information. The Committee, among others, advised the PSU to conduct a comprehensive biodiversity assessment to evaluate the impact of drilling activities and to prepare an environmental restoration action plan, with a dedicated budgetary allocation for its implementation. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Fibre2Fashion
29-07-2025
- Business
- Fibre2Fashion
RIL, ONGC & BP sign pact for offshore Saurashtra block
Pic: Pexels/Zukiman Mohamad Reliance Industries Limited ('RIL') has entered into a Joint Operating Agreement with Oil and Natural Gas Corporation Limited ('ONGC') and BP Exploration (Alpha) Limited ('BP') for the exploration Block GS-OSHP-2022/2 ('Block'). This Block in located off the western coast in Saurashtra basin and was awarded to RIL, ONGC and BP as part of Hydrocarbon Exploration and Licensing Policy. Parties will pursue exploration operation in the Block pursuant to the terms of award of the Block. Reliance Industries, Oil and Natural Gas Corporation Limited, and BP Exploration have signed a Joint Operating Agreement for Block GS-OSHP-2022/2 in the Saurashtra basin, off India's western coast. The Block was awarded under the Hydrocarbon Exploration and Licensing Policy, and the partners will jointly pursue exploration operations as per the terms of the award. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged. ALCHEMPro News Desk (HU)
Business Upturn
03-07-2025
- Business
- Business Upturn
ONGC and Mitsui O.S.K. Lines sign HoA to develop Very Large Ethane Carriers
Oil and Natural Gas Corporation Limited (ONGC) and Japan-based Mitsui O.S.K. Lines Ltd (MOL) have signed a Heads of Agreement (HoA) on July 3, 2025, to collaborate on the development, ownership, and operation of two Very Large Ethane Carriers (VLECs). In the exchange filing, the company shared, 'Oil and Natural Gas Corporation Limited (ONGC) and Mitsui O.S.K lines Ltd, Japan (MOL) have signed a Heads of Agreement on 3rd July 2025 to enter into a partnership to build, own and operate two Very Large Ethane Carriers (VLECs).' The proposed VLECs will be used to transport imported ethane to ONGC Petro Additions Limited (OPaL), a wholly-owned subsidiary of ONGC. The ethane will serve as feedstock for OPaL's petrochemical operations. This move is aimed at securing a stable supply of feedstock for domestic production. The partnership is subject to approval from the respective Boards of both companies. Further details regarding the project structure, timelines, and investment commitments will be shared upon the final signing of the partnership agreement. Ahmedabad Plane Crash Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at
