Oil and Natural Gas Corporation Limited (ONGC) has made discoveries of Oil and Gas in MBS171HAA-1 (MBS171HAA-A)-“AMRIT” in OALP (Open Acreage Licensing Policy) block MB-OSHP-2017/1 in Mumbai Offshore (SW) on the Arabian Sea. There is another remarkable discovery in MBS182HDA-1(MBS182HDA-A) named “Moonga” in OALP exploration Block in Mumbai Offshore. Detailed assessment of the discoveries is in progress.

With these discoveries, ONGC continues its impressive streak in the OALP blocks by making new discoveries in consecutive years. ONGC Director (Exploration) Ms. Sushma Rawat said that with these notable findings in the OALP I and OALP III rounds, ONGC reaffirms its exploration commitment to unlocking the vast potential of India's hydrocarbon resources along with reserves accretion, strengthening the nation's energy security.

The discovery represents a momentous achievement, underscoring exploration dedication to expanding domestic production and reducing India's reliance on imported oil and gas.

ONGC’s relentless pursuit of exploring untapped regions yielded these finds. By diligently analyzing geological data and employing advanced technologies, ONGC successfully identified substantial oil and gas reserves, reaffirming the untapped potential within the OALP blocks.

Notes:

In addition to the significant discoveries made in the OALP I and OALP III rounds, ONGC has promptly notified the Directorate General of Hydrocarbons (DGH) and the Ministry of Petroleum and Natural Gas (MOP&NG) about these remarkable findings.

ONGC's proactive approach in notifying the DGH and the MOP&NG reflects the company's commitment to operating within the regulatory framework. This collaborative approach fosters a robust partnership between ONGC and the regulatory authorities, facilitating the efficient and responsible development of India's hydrocarbon resources.

ONGC's discoveries in both the OALP I and OALP III rounds carry significant importance towards energy security by bolstering domestic production. The reduced dependence on imported oil and gas enhances the country's resilience to global market fluctuations, ensuring a stable and secure energy supply.

ONGC's successive discoveries in the OALP blocks awarded under the OALP I and OALP III rounds demonstrate the company's unwavering commitment to unlocking India's hydrocarbon potential. These achievements not only strengthen India's energy security and reduce dependence on imports but also drive economic growth, technological advancements, and environmental sustainability. ONGC's remarkable exploration successes pave the way for a more prosperous and self-reliant energy future for India, cementing its position as a leading player in the global energy landscape.

About ONGC

Maharatna ONGC is the largest crude oil and natural gas Company in India, contributing around 71 per cent to Indian domestic production. Crude oil is the raw material used by downstream companies like IOC, BPCL, HPCL and MRPL (Last two are subsidiaries of ONGC) to produce petroleum products like Petrol, Diesel, Kerosene, Naphtha, and Cooking Gas LPG.