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The Economic Times

Economy / The Economic Times

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ONGC to invest Rs 1 lakh crore for deepwater exploration, says chairman

Oil and Natural Gas Corporation plans a significant investment over five years. The company will explore local deepwater and ultradeep water fields. ONGC intends to drill eighty-seven wells by March 2031. This initiative aims to tap India's vast untapped oil and gas reserves. Major discoveries are needed to counter declining production output.

31 Aug 2026 7:49 pm