NSEPress Release1d ago · 21 Sept 2026, 04:41 pm

Press Release

Oil & Natural Gas Corporation Limited · ONGC

✦ AI Summary▲ PositiveOrder Win

ONGC has announced a gas strike at a deepwater well in the Mahanadi Offshore Basin, off the Odisha coast, under the Samudra Manthan initiative.

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Earnings Impact2/10
Growth Catalyst8/10
Governance Concern1/10
Regulatory Risk1/10
Balance Sheet Risk1/10
Liquidity Impact8/10
Market Sentiment9/10

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Full Announcement

Oil & Natural Gas Corporation Limited has informed the Exchange regarding a press release dated September 21, 2026, titled "ONGC Strikes Gas in Mahanadi Deepwater under Samudra Manthan".

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ONGC_21092026164112_PressReleaseONGCStrikesGasMahanadi21Sept2026.pdf

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Press Release ONGC Strikes Gas in Mahanadi Deepwater under Samudra Manthan New Delhi | 21 September 2026 Oil and Natural Gas Corporation Limited (ONGC) on 18 September 2026 struck gas at deepwater well MN-DW18-1-H-D in the Mahanadi Offshore Basin, off the Odisha coast, under the Samudra Manthan initiative. The well drilled to a target depth (TD) of 1,623 metres recorded the gas strike at 1,441–1,452 metre interval. The well is located approximately 43 km off Konark and is the first well in the Mahanadi Basin under the campaign. Its relative proximity to the coast offers potential for early monetisation, subject to further appraisal, and commercial evaluation. The well was spudded on 25 July 2026 by Hon’ble Minister of Petroleum & Natural Gas Shri Hardeep Singh Puri. On 27 August 2026, ONGC Chairman & CEO Shri Arun Kumar Singh, Director (Technology & Field Services) Shri Vikram Saxena, and Director (Exploration) Shri O. P. Sinha visited drillship Platinum Explorer and interacted with the team engaged in the drilling campaign. The well is flowing gas with encouraging flow and reservoir pressure for last three days. The discovery strengthens ONGC’s deepwater exploration programme and India’s efforts to expand its indigenous hydrocarbon resource base. This find, along with other discoveries in the area, can be a candidate for development through shared facilities enabled by the PNG Rules, 2025, bringing deepwater resources onstream. Issued by: Oil and Natural Gas Corporation Limited Corporate Communications, New Delhi Phone: +91-11-26754013 Email: ongcdelhicc@ongc.co.in