Oil and Natural Gas Corporation Ltd. (ONGC) , 1947-1960- during pre-independence, the Assam Oil Company in the North-Eastern and Attock Oil company in North-Western part of undivided India were the only oil companies producing oil in the country. The major part of Indian sedimentary basins was deemed to be unfit for development of oil and gas resources.
About Oil and Natural Gas Corporation Ltd.
Oil and Natural Gas Corporation Ltd. is an India-based oil exploration and production company. The Company is the producer of crude oil and natural gas in India. The company has organized into the geographical and business segments. The geographical segment includes operations in two categories: In India, which include onshore and offshore, and outside India. The business segment includes exploration & production and refining activities. As of Dec 2013, the Company made 14 oil and gas discoveries in domestic fields (operated by ONGC). Out of 14, 7 discoveries are in offshore and 7 in onshore; 6 discoveries were made in the new prospects; whereas 8 were new pool discoveries. Five discoveries were made in NELP blocks and 9 in nomination blocks. Out of the discoveries, 2 are oil bearing, 9 are gas bearing and 3 are both oil & gas bearing. The Company’s wholly owned subsidiaries include ONGC Videsh Limited and Mangalore Refinery and Petrochemicals Ltd. (MRPL).