INTRODUCTION

Oil and Natural Gas Corporation Limited (ONGC) is an Indian multinational oil and gas company
earlier headquartered in Dehradun, Uttarakhand, India. As a Corporation, it's registered office is now
at Deendayal Urja Bhavan, Vasant Kunj, New Delhi 110070 India. It is a Public Sector
Undertaking (PSU) of the Government of India, under the administrative control of the Ministry of
Petroleum and Natural Gas. It is India's largest oil and gas exploration and production company. It
produces around 70% of India's crude oil (equivalent to around 30% of the country's total demand)
and around 62% of its natural gas.[4]
On 31 March 2013, its market capitalisation was INR 57.2 trillion (US$billion), making it India's first
largest publicly traded company.[5][6]In a government survey for fiscal year 2016-17, it was ranked as
the largest profit making PSU in India.[7] It is ranked 11th among the Top 250 Global Energy
Companies by Platts.[8]
ONGC was founded on 14 August 1956 by Government of India, which currently holds a 68.94%
equity stake. It is involved in exploring for and exploiting hydrocarbons in 26 sedimentary basins of
India, and owns and operates over 11,000 kilometers of pipelines in the country. Its international
subsidiary ONGC Videsh currently has projects in 17 countries. ONGC has discovered 6 of the 7
commercially producing Indian Basins, in the last 50 years, adding over 7.1 billion tonnes of In-place
Oil & Gas volume of hydrocarbons in Indian basins. Against a global decline of production from
matured fields, ONGC has maintained production from its brownfields like Mumbai High, with the
help of aggressive investments in various IOR (Improved Oil Recovery) and EOR (Enhanced Oil
Recovery) schemes. ONGC has many matured fields with a current recovery factor of 25–33%.[4] Its
Reserve Replacement Ratio for between 2005 and 2013, has been more than one.[4] During FY
2012–13, ONGC had to share the highest ever under-recovery of INR 8993.78 billion (an increase of
INR 567.89 million over the previous financial year) towards the under-recoveries of Oil Marketing
Companies (IOC, BPCLand HPCL).[4] On 1 November 2017, the Union Cabinet approved ONGC for
acquiring majority 51.11 % stake in HPCL (Hindustan Petroleum Corporation Limited). On Jan 30th
2018, fOil & Natural Gas Corporation acquired the entire 51.11% stake of Hindustan Petroleum
Corporation.[9]

Company overview

Name of the company

O.N.G.C (Oil and natural gas corporation ltd.)

Establish year

August 1956

Key people

Radhey .S. Sharma

 Company secretary

S.P.Garg

Registered office

Jeevan Bharti Building, Tower-2

124, Indira Chowk, New delhi-110001

Corporate office

Tel Bhavan Deharadun-248003

Uttarakhand

Bankers

State Bank of India

Subsidiaries

ONGC Videsh Ltd.

Mangalore Refinery & petrochemicals Ltd.

ONGC Nile Ganga B.V

ONGC Nile Ganga (Cyprus) Ltd.

ONGC campus Ltd.

ONGC Narmada Ltd.

ONGC Do Brazil Exploration Ltd.

ONGC Nile Ganga (San Cristobal) B.V

ONGC Amazon Alakhanda Ltd.

Statutory Auditors

K K Soni & co.

S C Ajmera & co.

PSD Associates

Singni & Co.

Padamnabham

Registrar & Share Transfer Agent

Karvy Computershare Private Ltd.

Plot No. 17-24

Vittal Rao nagar, madhapur

Hyderabad-500081 (A.P.)

105-108, 1st Floor

Arunachal Building

19, Barakhamba Road

New Delhi-110001

Listed at

Bombay stock Exchange

National Stock Exchange

Depositories

National securities Depositories Ltd.

Central Depositories Services (India) Ltd.

Awards

ONGC has bagged from time to time safety awards instituted by the OISD, India;

1987-88 :: Cross Country pipeline

1988-89 :: Oil/Gas production Installation (BHS)

1988-89 :: Cross Country pipeline

1989-90 :: Oil/Gas production Installation (BHS)

1990-91 :: Cross Country pipeline

1991-92 :: Oil/Gas production Installation (Hazira)

1994-95 :: Cross Country pipeline, Oil/Gas production Installation (Hazira)

1995-96 :: Cross Country pipeline, Oil/Gas production Installation (Mehsana)

1996-97 :: Processing Organization Excluding Refineries (Hazira)

1996-97 :: Oil and Gas Production Units (MRBC)

The Hazira Gas Processing Complex has also bagged the following awards for

excellence in environmental preservation and pollution control:

Award for Excellence in Environmental Preservation and Pollution Control for

1996, by federation of Gujarat industries, Baroda.

The Golden Jubilee Memorial Trust Award for outstanding pollution control
program for 1996-97

Organized by Gujarat Chamber of Commerce and Industry.

RoSPA Bronze Awards for 1998 by Royal Society foe Prevention of Accident

(RoSPA), UK.

Award for outstanding contribution towards pollution control conferred by South

Gujarat chamber of Commerce and Industries (SGCCI) for 1997-98

Branches of ONGC in India

Organizational Structure

BOARD OF DIRECTORS:

Mr. R S SHARMA

(Chairman and Managing Director)

Mr. A K HAZARIKA Mr. N K MITRA

(Director, onshore) (Director, offshore)

Mr. D K PANDE Dr. A K BALYAN

(Director, Exploration) (Director, HR)

Mr. U N BOSE Mr. U SUNDARARAJAN

(Director, T&FS) (Director)

Mr. RAJESH V SHAH Mr. M M CHITALE

VISION

To be a World Class, Oil and Gas Company integrated in Energy business with dominant

Indian leadership and global presence.

Mission

World Class

· Dedicated to excellence by leveraging competitive advantages are Research

and Development and technology with involved people.

· Imbibe high standards of business Ethics and organization Values.

· Abiding Commitment to health, safety and environment to enrich quality of

community life.

· Foster a culture of trust, openness and Mutual content to make working a

stimulating and challenging experience for one people.

· Strive for customer delight through quality products and services.

Integrated in Energy business

· Focus on domestic and international oil & Gas Exploration and production

business opportunities.

· Provide value linkages in other sectors of energy business.

· Create growth opportunities and maximize shareholder value.

Dominant Indian leadership

Retain dominant position in Indian petroleum sector and enhance India’s Energy

Availability.

Size of the unit and form of organization

Generally size of the unit is based on the total investment and total employment

made by particular unit. While form of organization is decided on the basis of internal

relationships, authority and responsibility to concerned departments.

According to latest small-scale industry which is having investment more than 100

corers plant and machinery is considered as large-scale unit. While the employment made

by particular industry is based on factory act. Factory act shares the detailed information

regarding the employment for different industry. As the ONGC Ltd. Having approximately

26,000,000,000 as per the factory act thus ONGC is a large scale unit and it gets the

benefit that every scale unit gets.

ONGC Ltd. Company. Its shares available in stock market fir purchase and resale

by public. It is also public sector unit.

CORE VALUES

SENSE OF BELONGING

· There should be a sense of commitment loyalty and sense of ownership of the job

and company properties.

· There should be improvements in personal work area as a self-starter.

· There should be quality individual work and value addition.

· There should be a sense of pride in company.

INTEGRITY

· Personal / Professional integrity is strictly abiding by rules and regulations.

· Processing / deciding cases in an unbiased / dispassionate way.

· Sense of ethics in behaviour and interpersonal and professional interaction.

TEAM-SPIRIT

· Employees should be working in groups, with trust and openness.

· There should be proper cooperation, communication between employees and

employees, employer and employer, employer and employee.

· Employees should share knowledge and information there should be collective

learning between them.

· There should be target consciousness, cost and quality consciousness between

employees and employer.

DISCIPLINE:

· There should be punctuality, work ethics, dress code and self discipline.

· Enforcing discipline in a fair and firm manner.

SOCIAL RESPONSIBILITY:

· Caring of society and environment, projecting a lofty image of ONGC to society.

STOP CORRUPTION:

· By not acception / giving bribes in cash / kind.

· By not harassing any body.

· By taking decisions upon objective reality.

 COMPANY’S
HISTORY: -
1947-1960:
Until 1955,
private oil
companies mainly
carried out
exploration of
hydrocarbon
resources of India.
In Assam, the Assam Oil Company was producing oil at Digboi (discovered in 1989 and
the Oil India Ltd… (A 50% joint venture between Govt. of India & Burma Oil Company)
was engaged in developing two newly discovered large fields Naharkatiya & Moran in
Assam. In West Bengal, the Indo-Stanvac Petroleum project (a joint venture between
Govt. Of India & Standard Vacuum Oil Company of USA) was engaged in exploration
work.
In 1955, Govt. of India decided to develop the oil and natural gas resources in the various
regions of the country as part of the Public Sector development. With the objective, an Oil
& Natural Gas Directorate was set up towards the end of 1955, as a subordinate office
under the Ministry of Natural Resources and Scientific Research. The Department was
constituted with a nucleus of geoscientists from the Geological survey of India.
A delegation under the leadership of Mr. K .D. Malviya, the Minister of Natural Resources,
visited several European countries to study the status of oil Industry in those countries &
to facilitate the training of Indian professionals for exploring potential oil & gas reserves.
Foreign experts from U.S.A, West Germany, Romania & Erstwhile U.S.S.R. Visited India
& helped the Govt. with their expertise.
In April 1956, the Govt. of India adopted the Industrial Policy Resolution, which placed
mineral oil Industry among the schedule “A” industries, the future development of which
was to be the sole & exclusive responsibility of the state. Soon, after the formation of the
Oil & Gas Directorate, it becomes apparent that it would not be possible for the
Directorate with its limited financial & administrative powers as subordinate office of the
Govt., to function efficiently. So in August 1956, the Directorate was raised to the status
of a commission with enhanced powers, although it continued to be under the Govt. In
October 1959, the Commission was converted into a statutory body by an act of the
Indian Parliament, which enhanced powers of the commission further.
The main functions of the Oil & Natural Gas Commission subject to the provisions of the
Act, were to plan, promote, organize & implement programs for development of Petroleum
Resources & the production & Sale of Petroleum products produced by it, and to perform
such other functions as the Central Govt. may from time to time, assign, to it.” The act
further outlined the activities & steps to be taken by ONGC in fulfilling its mandate.
1960-61:
Since its inception, ONGC has been instrumental in transforming the country’s
limited upstream into large viable playing fields, with its activities spread throughout India
& significantly in overseas territories. In the inland areas, ONGC not only found new
resources in Assam but also established new oil province in Cambay basin (Gujarat),
while adding new petroliferous areas in the Assam-Arakan Fold Belt & East Coast basins
(both inland & offshore).
ONGC went offshore in early 70s & discovered a giant oil field in the form of Bombay
High, now known as Mumbai High. This discovery, along with subsequent discoveries of
huge oil & gas fields in Western offshore changed the oil scenario of the country.
Subsequently, over 5 million tones of hydrocarbons, which were present in the country,
were discovered. The most important contribution of ONGC, however, is its self-reliance
& development of core competencies in E & P activities at a globally competitive level.
AFTER 1990:
The Liberalized economic policy, adopted by the Govt. of India in July 1991,
sought to deregulate & de-license the core sectors with partial disinvestments of Govt.
equity in Public Sector Undertakings & other measures. Consequently, thereof, ONGC
was reorganized as a limited Company under the Company’s Act, 1956 in February 1994.
After the conversion of business of the erstwhile Oil & Natural Gas Commission to
that of Oil & Natural Gas Corp. Ltd.
In 1993:
The Govt. disinvested 2% of its shares through competitive bidding.
Subsequently, ONGC expanded its equity by another 2% by offering shares to its
employees.
March 1999:
ONGC, Indian Oil Corp. (IOC) – a downstream giant & Gas Authority of India Ltd.
(GAIL) – the only gas marketing company, agreed to have cross holding in each other’s
stock.
This paved the way for long-term strategic alliances both for the domestic & overseas
business opportunities in the energy value chain, amongst themselves. Consequently, to
this the Govt. sold off 10% of its share holding in ONGC to IOC & 2.5% to GAIL. With
this, the Govt. holding in ONGC came down to 84.11%.
2002-03:
After taking over MRPL from the AV BIRLA GROUP, ONGC diversified into the
downstream sector, ONGC will soon be entering into the retailing business. ONGC has
also entered the global field through its subsidiary, ONGC Videsh Ltd. (OVL). ONGC has
made major investments in Vietnam, Sakhalin & Sudan & earned its first hydrocarbons
revenue from its investments in Vietnam.
2004:
ONGC’S Market Capitalization crosses a Trillion Rupees. 106 redevelopment
wells drilled in Mumbai High-Oil production increases from 218,000 barrels per day to
270’000 barrels per day. ONGC achieves near-zero gas flaring. 10% disinvestment of
ONGC highest in India – receives unprecedented global investor response, brings in 20
new FIIs to Indian equity market.
2005:
100% of ONGC’S installations & institutions accredited with the highest safety
rating; ONGC becomes the only organization in the world to achieve the distinction. Oval
retail outlet launched in Mangalore ONGC becomes only Indian company to be present
across entire Oil & Gas chain from Drilling to Dispensing. The former President of India
Dr A P J
2006:-
10 new finds of Hydrocarbons, shallow gas exploration in Cambay and K.G.
Basins.
2007:-
ONGC Videsh Limited (OVL), the wholly-owned subsidiary of ONGC engaged in
overseas E&P activities. It acquired 11 E&P projects in 6 countries during the year.
2008:-
ONGC signed Memorandum of Understanding with- Institute of Energy
Technology, Norway, Shell.

OBJECTIVES
Oil And Natural Gas Corporation has been established to carry out the objectives specified in the
Memorandum & Articles of Association of the Company. The main objectives are:
1. To acquire whole or any part of the undertaking, business, the assets/liabilities, rights, obligations, power,
goodwill, privileges, functions and associated establishment of whatever nature of the Oil & Natural Gas
Commission [Established under the Oil & Natural Gas Commission Act (No. 43 of 1959)] and for that
purpose carry into and carry into effect such agreements, contracts, arrangements as may become
necessary.
2. To plan, promote, organize and implement programmes for the development of Petroleum Resources
and the Production and Sale of Petroleum and Petroleum Products produced by it and for all matters
connected therewith.
3. To plan, promote, organize exploit and implement programmes for the efficient development of petroleum
and petroleum products and alternate resources of energy, and the production, distribution, conservation
and sale of Petroleum and other products/services produced by it and for all the matters connected
therewith.
4. To carry out exploration and to develop and optimise production of hydrocarbons and to maximise the
contribution to the economy of the country. To carry out geological, geophysical or any other kind of surveys
for exploration of petroleum resources; to carry out drilling and other prospecting operations; to probe and
estimate the reserve of petroleum resources; to undertake, encourage and promote such other activities as
may lead to the establishment of such reserves including geological, chemical, scientific and other
investigations.
5. To search for, purchase, take on lease or license, obtain concession or otherwise acquire any estate or
interest in, develop the resources of work, dispose off or otherwise turn to account, land or sea or any other
place in whole of India or in any other part of the world containing or likely to contain, petroleum, petroleum
resources or alternative sources of energy or other oils in any form, asphalt, bitumen or similar substances
or natural gas, chemicals or any substances used, or which is thought likely to be useful for any purpose
for which petroleum or any oils in any form, asphalt, bitumen or similar substances or natural gas is, or
could be used or to that end to organise, equip or employ expeditions, commissions, experts and other
agents and to sink wells, to make boring and otherwise to search for, obtain, exploit, develop, render
suitable for trade, petroleum, other mineral oils, natural gas, asphalt, or other similar substances or product
thereof.
6. To undertake, assist, encourage or swap or promote the production of petroleum resources and to carry
on in all their respective branches all or any of the business of producing, treating, (including the redefining
of crude oil) storing, transportation, importing, exporting, swapping and generally dealing in or with,
petroleum or other crude oils, asphalt, bitumen, natural gas, refinery gasses, liquefied petroleum gas and
all other kind of petroleum products, chemicals and any such substances aforesaid.
7. To carry on all marketing and distribution of all kinds of petroleum products and to purchase or otherwise
acquire manufacture, refine, treat, reduce, distil, blend purify and pump, store, hold transport, use,
experiment with market distribute, exchange, supply, sell or otherwise dispose of, import, export and trade
and generally deal in any and all kinds of petroleum products, oil, gas and other volatile substances.
8. To carry on all or any of the businesses of the sale and purchase of petroleum and other crude oil,
asphalt, bitumen, natural gas, liquefied petroleum gas, chemicals and all kinds of petroleum products, treat
and turn to account in any manner whatsoever petroleum and other crude oils, asphalt, bitumen, natural
gas, liquefied petroleum gas and all kinds of petroleum products, chemicals and any such substance as
aforesaid.
9. To establish, provide, maintain and perform scientific, technical, engineering, project management,
consulting/contacting services including but without limiting to technical studies, design, construction,
maintenance, repair all kinds of works and buildings, procurement, inspection expediting, management of
construction and related services for petroleum reservoir, storage and transportation of oil, gas and other
minerals by pipeline in or otherwise, seismic data acquisition, interpretation, logging, drilling, cementing,
other oil fields related equipment.
10. To promote, organise, or carry on the business of consultancy services in any field of activity in which
the Company is engaged in or connected therewith.
It is a duty of ONGC to do its business operation within the objectives specified in the Memorandum &
Articles of Association in a most fair and transparent manner. It is also a duty of ONGC to protect interest
of its stakeholders as well as to maximize the wealth of the shareholders.

CONTRIBUTION OF INDUSTRY ON EMPLOYMENT, Economic growth and

GDP
The basic responsibility of ONGC is prospecting for natural hydrocarbon resources,
exploring them and tapping the potential reserves of hydrocarbon into commercially
viable energy sources. The achievements of ONGC in the last five decades is extremely
appreciable, as evident from the fact that 6 out of the 7 Indian Basins producing
commercially viable fuel has been discovered by ONGC. The Company is involved in
exploring and tapping the hydrocarbon resources of the 26 sedimentary basins and the
relentless efforts of ONGC has resulted in the addition of 7.1 billion tons of ‘In-place Oil
and Gas’ volumes in the last five decades.

A current possessor of 69.23% equity stake, ONGC also has 11,000 kilometers of
pipelines under its sleeve in India. During global oil supply dry up periods ONGC has
invested exhaustively in various ‘Improved Oil Recovery (IOR)’ and ‘Enhanced Oil
Recovery (EOR)’ programs (enhancing the ‘Recovery Factor’ to 33.5% in 2011) in
addition to supply from its various ‘brownfields’ namely Mumbai High. The continuous
efforts of ONGC have considerably helped to maintain a greater than one ‘Reserve
Replenishment Ratio’.
ONGC has always been proactive in trying to meet the ever increasing domestic
requirements of fuel. The final agreement of securing a 10% stake in the strategically
located offshore gas fields in Mozambique by paying US based Andarko Petroleum $6.2
billion as a price for the 10% stake is just another example and the second such deal to
be finalized by ONGC in the recent months. According to Sudhir Vasudeva, Chairman,
OVL, “Mozambique gas field has the potential to become one of the world’s largest LNG
projects”.
A Crude Oil Sale Agreement (COSA) has been signed between ONGC and one of its
subsidiaries, Mangalore Refinery and Petrochemicals Limited (MRPL) for the first time,
ensuring a supply of crude oil from the JNTP/JD and offshore rig over a period of five
years. The quantity of crude oil to be supplied over the period of five years is estimated
to be worth Rs 38,500 crore given the fact that ONGC already supplies about 12% of
MRPL’s crude oil requirement. This COSA completes ONGC’s deals with all the major
domestic buyers of crude oil including BPCL, HPCL, IOCL and CPCL all of whom have
signed COSA’s with ONGC.
In an effort to increase funding in ONGC’s explorations, the Cabinet has decided to double
the natural gas prices from US$ 4.20 to US$ 8.4 per million British thermal unit. The logic
behind the price hike is that domestic explorations in the long run will ultimately reduce
the hefty import bill of crude oil for India.
As our country’s economy continues to grow, the fuel requirement is also growing almost
proportionally. We should be thankful that organizations like ONGC are trying to acquire
overseas assets to ensure a consistent supply to reduce the hefty crude oil import bill of
Asia’s third largest economy.

ONGC SWOT Analysis

1. ONGC is Indias largest crude oil and natural gas producer

2. Strong brand name of ONGC company
3. High profit making and high revenues
4. Has over 30,000 employees in its workforce
5. ONGC produces about 30% of India's crude oil requirement
6. Contributes 70%+ of India's crude oil production and 80%+ of India's natural gas
production
7. Commemorative Coin set was released to mark 50 Years of ONGC
8. Strong advertising and branding of the company along with recognition from several
awards
Strengths 9. Owned by the Govt of India, ONGC has got a strong financial backing

1. Being a government organization, slow bureaucratic decisions can reduce efficiency

Weaknesses 2. Intense competition means limited market share growth for ONGC

1. Increasing fuel/oil prices means higher margins for ONGC

2. Increasing natural gas market
3. ONGC can increase business by more oil well discoveries
Opportunities 4. Expand global export market and have international tie-ups

1.Government regulations affects business of ONGC

2.High competition form Indian as well as global oil companies
3.Hybrid and electric cars in the market can reduce fuel consumption
Threats 4. Fluctuating crude oil prices can affect the business
 Future prospects
Oil and Natural Gas Corporation (ONGC) has drawn up a ‘Perspective Plan 2030’ to
invest Rs.11 lakh-crore over the next 18 years

n 2011-12, ONGC produced 23.71 million tonnes of oil and 23.32 billion
cubic metres (bcm) of gas. It posted a net profit of Rs.25,123 crore on a
turnover of Rs.76,130 crore. Its overseas arm, ONGC Videsh Ltd. (OVL),
produced 6.21 million tonnes of oil and 2.54 bcm of gas in 2011-12. Mr.
Vasudeva said OVL would be looking to explore investment opportunities in
around 4-5 international hubs where the entity could achieve adequate growth
and source 60 million tonnes of oil and oil equivalent gas per year by 2030.
The potential hubs included heavy oil, conventional plays, shale gas and
deepwater exploration. “ONGC also looks to unlock 450 million tonnes of oil
and oil equivalent gas from yet-to-be found domestic resources,” he added.

“We have signed a memorandum of understanding (MoU) with

ConocoPhillips, U.S.-based oil major and pioneer in shale gas and deepwater
exploration, in March 2012 for co-operation in the research of shale gas
exploration in India, U.S. and elsewhere in the world. We have also signed a
MoU with China National petroleum Corp (CNPC), a leading integrated
international energy company, this year for co-operation in hydrocarbon
sector, including midstream and downstream,” he added.

Asserting that considerable potential existed in Indian basins, Mr. Vasudeva

said ONGC’s existing portfolio contained yet-to-be-developed discoveries
that could add more than 300 million tonnes of oil and oil equivalent gas to
production by 2030. “ONGC plans to invest in the non-E&P (exploration and
production) sector.
 These investments will include expansion and further petrochemical
integration at the MRPL refinery, additional LNG re-gasification and capacity
in alternative energy generation, including solar, wind and potentially
nuclear,” he added.

Role of Oil and Natural Gas Industry in India GDP-Highlights

 India is the 6th largest consumer of petroleum
 By the year 2010, India is expected to rank 4th in terms of consumption of energy
 The contribution of the Indian Oil and Natural Gas Industry is nearly US$ 13.58 billion
 All of the oil refineries in India, apart from two are operated by the states
 The total refinery output in the period 2005-06 was 130.11 million tonnes
 The growth rate of the refinery output was increased by 2.1 % in the year 2005-06
 The crude oil output at the end of 2006-07 was 33.98 million tonnes
 The growth rate of the crude oil output was increased by 5.6% in the year 2006-07
 The production of natural gas in the year 2006-07 was 31.55 billion cubic meters
 Indian petroleum demand depends highly on import of oil and natural gas
 Around 70% of the demands are fed by the imports of oil and natural gas
 The security pertaining to energy has become one of the primary concerns of the Central Government
 Presently India is trying to grab a share of the oil and gas fields from Central Asia to Myanmar and Africa
 The area of interest for the Indian Oil and Natural Gas Industry is to search for petroleum in both offshore and
onshore blocks
Role of Oil and Natural Gas Industry in India GDP-World's refiner
 The cost effective refining in India is attracting the attention of several international players
 India is one of the most important markets for petroleum products and crude oil
 The crude oil from Middle East is easily transported to India by means of the sea routes
Role of Oil and Natural Gas Industry in India GDP-Investments Abroad
 India is one of the largest investors in oil fields located abroad
 Most of the Government owned oil companies have share in the oil and gas fields in different places of the
world such as Sudan, Egypt, Libya, Ivory
 Coast, Vietnam, Myanmar, Russia, Iraq, Qatar, and Australia
 India has 20 % share in Sakhalin-I oil project in Russia
 The Oil and Natural Gas Corporation (ONGC) has entered into an agreement with ENI to acquire 20-25 %
share of the Congo oil block

CONCLUSION
 BIBLIO
https://www.quora.com/What-are-the-future-prospects-of-ONGC
https://en.wikipedia.org/wiki/Oil_and_Natural_Gas_Corporation
https://www.ongcindia.com

https://www.moneycontrol.com › ... › Share/Stock Price › Oil Drilling And Exploration

https://economictimes.indiatimes.com › Industry › Energy › Oil & Gas
1.