Oil and Natural Gas Corporation

Oil and Natural Gas Corporation

Personal information
Full name	Oil and Natural Gas Corporation
Company type	public
Founded	(1991-09-05) 14 August 1956 (69 year ago) Vasant Kunj, Delhi, India

The Oil and Natural Gas Corporation Limited (ONGC)is an Indian central public sector undertaking which is the largest government-owned oil and gas explorer and producer in the country.It accounts for around 70 per cent of India's domestic production of crude oil and around 84 per cent of natural gas. Headquartered in Delhi, ONGC is under the ownership of the Government of India and administration of Ministry of Petroleum and Natural Gas.

Oil and Natural Gas Corporation (ONGC) was established in 1956 after the Government of India recognized the strategic importance of petroleum for industrial growth and national security. Initially formed as the Oil and Natural Gas Directorate in 1955, it was later upgraded to a commission and eventually became a statutory body in 1959. With technical support from experts from the Soviet Union, Romania, the United States, and West Germany, ONGC began systematic geological surveys and drilling operations. In its early years, it discovered major oilfields in Assam and Gujarat, laying the foundation for India’s domestic oil production and reducing dependence on imports.
Between 1961 and 2000, ONGC transformed India’s upstream energy sector. It made significant onshore discoveries in Assam and the Cambay Basin and achieved a breakthrough in the 1970s with the discovery of the giant Mumbai High (formerly Bombay High) offshore field in the Arabian Sea. This discovery revolutionized India’s oil production capacity. In 1994, ONGC became a publicly listed company, with 20% of its equity offered to the public while the Government of India retained majority ownership. During this period, ONGC also began expanding overseas, marking India’s first major public sector investment in foreign oil exploration projects.
From 2001 onward, ONGC expanded aggressively through its overseas arm, ONGC Videsh Limited (OVL), acquiring stakes in projects across Africa, the Middle East, and other regions. The company invested in deepwater exploration, offshore infrastructure, and major acquisitions, including the purchase of Hindustan Petroleum Corporation Limited in 2017. Despite fluctuations in production levels in recent years, ONGC continues to invest heavily in deepwater and ultra-deepwater exploration, including projects in the Krishna Godavari Basin, reinforcing its role as India’s leading exploration and production company.

As of 2025, the Government of India remains the majority shareholder in Oil and Natural Gas Corporation (ONGC), holding approximately 60% of the company’s equity. The remaining shares are publicly held by domestic institutional investors, mutual funds, foreign portfolio investors (FPIs), insurance companies, and retail investors. While the government retains majority ownership and strategic control, ONGC is also listed on Indian stock exchanges, allowing public participation and market-based valuation of its shares.

Oil and Natural Gas Corporation (ONGC) has built a distinguished business career as India’s leading exploration and production (E&P) company, operating across the entire hydrocarbon value chain. It engages in oil and natural gas exploration, drilling, production, refining, and distribution, both onshore and offshore, with major projects in Assam, Gujarat, Mumbai High, and the Krishna Godavari Basin. Through its overseas subsidiary, ONGC Videsh Limited (OVL), the company has invested in international oil and gas assets in Africa, the Middle East, and Latin America. ONGC also undertakes strategic acquisitions, deepwater and ultra-deepwater exploration, and joint ventures, contributing significantly to India’s energy security and positioning itself as a globally competitive oil and gas corporation.

Oil and Natural Gas Corporation (ONGC) is guided by an ideology focused on energy security, national development, and self-reliance. Its mission is to ensure a stable and sustainable supply of oil and gas to meet India’s growing energy demand while supporting economic growth and strategic independence. ONGC emphasizes technological innovation, environmentally responsible exploration, and global competitiveness, balancing commercial objectives with social and national responsibilities. Through both domestic and international operations, the company aims to strengthen India’s energy infrastructure and contribute to long-term energy sustainability.

• Facebook