Oil & Natural Gas Corpn Ltd
NSE: ONGC BSE: 500312
₹225.60
+0.10 (0.04%)
Sun, 25 Oct 2026, 06:02 am
Market Cap (in Cr)279911.21
PE Ratio6.52
Dividend5.96
Energy Minerals
Integrated Oil
24.5KOil & Natural Gas Corpn Ltd Company History
1956
- Oil and Natural Gas Commission established by Ministry of Natural Resources and Scientific Research.
1959
- Oil and Natural Gas Commission converted into statutory body in October under Oil and Natural Gas Commission Act, 1959.
1992
- Undertook exploitation of Coal Bed Methane in Damodar valley.
1993
- Incorporated on June 23 as Oil and Natural Gas Corporation Limited.
- Granted certificate of commencement of business on August 10.
1994
- Acquired undertakings, assets and liabilities of Oil and Natural Gas Commission on February 1.
1996
- Completed major projects including HX-HY platform, Hazira terminal IIIA, EOR in North Gujarat.
- Holds 40% in JVs for Ravva, Panna-Mukta, Mid & South Tapti.
- Embarked on deep sea basin exploration on East and West Coasts.
- Government approved JV with GAIL, IOC, BPCL for LNG import.
- ONGC Videsh Ltd established as wholly owned subsidiary.
- Issued 34,28,53,716 shares to President of India; 10,76,44,03,66 bonus shares; disinvested 66,39,910 shares.
1997
- Granted Navratna status.
- ONGC and BPCL exploring paraxylene venture at Hazira.
- Took up JV projects in seven countries.
- IOGPT awarded ISO 9001.
- To float JV for Neelam oilfield.
- Ministry invited JVs for exploration.
- Royal Dutch Shell to join for Neelam revival.
- Installed 24-hour video conferencing facility.
- Global oil companies approached for Neelam JV.
- JV committee finalizing stake in Central India refinery.
- To implement McKinsey recommendations.
- Evincing interest in Tamil Nadu captive power equity.
- Signed Rs 180 crore contract with PGS for 3D seismic.
- Awarded world's largest 3D seismic turnkey contract to PGS.
- Signed pact with Chinese National Oil Co.
1998
- Proposed JV with Lubrizol India.
- Board to consider new subsidiary for contract jobs.
- ONGC and GAIL conflicted over Gandhar LPG plant.
- Signed agreement with Bangladesh gas units for exploratory drilling.
- Initiated large-scale organization restructuring.
- Negotiated JV with Arco for CBM.
- Launched oil hunt in KG deep waters.
- Planned integrated radio communication system.
1999
- ONGC and Lukoil entered agreement for Central Asian joint exploration.
- Mooted IT subsidiary for oil industry expertise.
- Set up expert committee for gas well fire inquiry.
- To set up oil spill response centres in Mumbai and Kakinada.
- ONGC, IOC and GAIL agreed to cross holdings.
2000
- Signed MoUs with government for 2000-01 targets.
- Entered refinance agreement with Bank of America for $180 million loan.
- Proposed strategic partnership with IOC for overseas E&P and refining.
- Explored voluntary retirement scheme for specialized activities.
- Joined Coal India for CBM exploitation JV.
- IPCL entered long-term agreement for 5,70,000 tpa feedstock.
- To sign MoU with Petroles de Venezuela for upstream activities.
- Set up separate marketing division.
- Formed ONGIO JV with IOC for training and consultancy.
- To set up IT company for oil and gas.
- NTPC and ONGC forming JV for gas residue power projects.
- To set up 360 MW gas power project at Hazira with NTPC.
- ONGC Videsh to sign MoU with Pertamina.
- Joined Reliance and Sonatrach for Iraq oil field.
- Signed MoU with BSES for natural gas supply.
2001
- ONGC Videsh signed $1.7 billion deal with Rosneft for 20% in Sakhalin-I.
- Signed MoU with Ministry for 25.2 MT crude production in 2001-2002.
- Tied up with IOC for NELP II deep-water blocks.
- Formulated 20-year exploration strategy to double reserves to 12 BtOE.
- Commissioned Tatipaka mini-refinery.
- Introduced voluntary retirement scheme.
- Planned Rs 5,000 crore investment to double reserves by 2020.
- Consortium with Cairn Energy and Tata Petrodyne to invest $300 million in Lakshmi field.
- Won Supreme Court litigation for Rs 500 crore.
- Entered strategic alliance with IOC; set up ONGIO International Pvt Ltd.
2002
- Board approved acquisition of Aditya Birla group's stake in MRPL.
- Scrapped 350 MW Hazira power project.
- Decided to offer equity to international majors for deep-water exploration.
- Entered contract with GAIL for supply agreements.
- Acquired 20% in Daewoo's South Korea gas project.
- Retained top profit-making PSU status.
- Became India's largest company by market capitalization.
- Signed MoU with BHEL for oilfield equipment.
- Signed price pact with IPCL for ethane and propane.
- Got FICCI membership.
- Government authorized retail of petrol and diesel.
- Discovered 363 MMt crude in Gujarat.
- Invited to join Haldia Petrochemicals.
- HPCL tied up for LPG purchase.
- Struck deal with refiners for crude at international prices.
- Ranked no.1 in ET 500.
- Bagged 13 oil blocks under NELP.
- Hit oil and gas in deep-water block off Andhra Pradesh.
- ONGC Videsh tied up with Talisman for 25% in Greater Nile project, Sudan.
2003
- Struck huge oil and gas reserves west of Bassein field.
- Found oil and gas in four locations offshore Mumbai, Assam, KG basin.
- Discovered major leads at five locations.
- Tied up with IOC for crude supply.
- Acquired 37.38% equity in MRPL.
- OVL purchased 25% stake in Sudan oilfield from Talisman for $771 million.
- Struck oil and gas in Rajasthan.
- Transferred O&M of three MSVs to SCI.
- Retained top spot in ET 500 market cap.
- Received first equity oil from Greater Nile project in Sudan.
- Shipped Sudan oil to India.
- Ranked in FT Global 500.
- Entered MoU with BPCL for crude supply 2002-2004.
- Hiked stake in MRPL to 71.49%.
- Ended JV with IOC for training and consultancy.
- Kicked off deep-water exploration.
- OVL inked sales pact with OMV for Sudan blocks for $115 million.
- Signed agreement with HPCL for crude supply.
- Signed MoU for crude supply with HPCL.
- Agreed to be equity partner in Dahej SEZ with GIDC.
- Signed agreement with BPCL for cooperation.
- Signed MoU with MRPL for crude supply.
- Commenced drilling 46th well in Bengal basin, Gobindapur 1.
- Entered transaction and strategic alliance with Cairn Energy.
- Joined with China Petro to buy oil equity.
- Unveiled $1 billion deep water drilling campaign in Gulf of Kutch.
- Awarded five CBM blocks.
- Government disinvested 10% equity.
2004
- Market capitalization crossed Rs 100,000 crore.
- Approved Rs 900 crore investment in five-million-tonne C2-C3 extraction plant.
- Finance Minister allowed buy of MRPL stake.
- Decided to offer 32 marginal fields to private operators.
- Permitted to set up methane plant at Dahej.
- Launched deep-water campaign Sagar Sammridhi.
- Awarded Rs 1,006 crore contract to Larsen & Toubro.
- Government divested 10% stake by selling 14.26 crore shares at Rs 750.
- Awarded Rs 160 crore order to BHEL for oil exploration equipment.
- Struck oil in Bassein offshore field.
- Decided to float SEZ at Dahej with GIDC.
- ONGC Group sales breached USD 10 billion.
- Discovered gas at Khedabari, Tripura.
- Tied up with IIFT for MBA course.
- Entered MoUs with service providers for E&P efficiency.
- Signed MoU with Schlumberger for value-based alliance.
- Chairman Subir Raha conferred V Krishnamurthy award.
- Signed agreement with IL&FS for gas-based power in North-East.
- PTC India entered agreement for power trading.
- Won polymers extraction project.
- OVL acquired 55% holdings in Australian oil block.
- Allied with KSPL, IL&FS for Kakinada SEZ.
- NLCL tied up with ONGC.
2005
- Clinched oil block deal in Nigeria.
- Forayed into retail with first outlet at Mangalore.
- Six geoscientists bagged national mineral award.
- Tied up with Hindujas for LNG terminals.
- Bagged Asiamoney trophy for best deals of 2004.
- Entered MoU with Indian Airlines for aircraft lease.
- Entered MoUs with Mittal Investments for ONGC Mittal Energy Ltd and ONGC Mittal Energy Services Ltd.
- GMDC and ONGC forged alliance for coal gasification.
- Signed MoU with IDE Infotech Ltd.
- Joined hands with Rajasthan for Dholpur power project.
- Signed agreement with CIL for coal mine gasification.
- Finance Director received award.
2006
- Tied up with Singareni.
- Signed MoU with Maruti.
- Inked deal with Halliburton to enhance oil production.
- Dutch IT company secured contract.
- Joined hands with MUL for vehicle lease.
- Internal audit bagged ISO 9001 rating.
- Issued bonus shares in 1:2 ratio.
2007
- Signed MoU with Tatarska Geophysica Technologies for matured fields production.
- ONGC and Eni signed agreement to swap exploration blocks.
- Signed MoU with Ministry of Petroleum & Natural Gas for FY 2007-08 targets.
- Entered MoU with BP for E&P collaboration.
2008
- Started drilling in Cauvery deepwater block.
- Bagged SCOPE Gold Trophy for corporate governance.
- ONGC and Rocksource signed agreement for deepwater block partnership.
2009
- Reported gas discovery in west Tripura block.
- Achieved all-time record in oil and gas production.
- Awarded Rs 753 crore contract to UAE company.
- Awarded Golden Peacock Award for occupational health and safety.
2010
- Granted Maharatna status.
- Ranked 1st among global oil and gas E&P companies and 18th among energy majors in Platts 250.
- Awarded 1st runner-up for Best Presented Accounts and Corporate Governance Disclosure.
- Selected as Natural Gas STAR Program’s International Partner of the Year by US EPA.
- Awarded Golden Peacock Award for climate security.
- Awarded gold trophy for SCOPE Meritorious Award for R&D.
- Awarded 2nd PSU Award for highest market capitalization.
- Awarded BML Munjal Award for excellence in learning and development.
2011
- Awarded Leading Oil and Gas Corporate and Exploration and Production Company of the Year.
- Planned US $4 billion investment in Gujarat.
- Showed interest in Trebs and Titov Arctic oilfields with Bashneft.
- Sri Lanka awarded 3 hydrocarbon blocks.
- Emerging as largest advance taxpayer for FY11 with Rs 8,492 crore.
- Sold 600,000 barrels of crude to Japan.
- Aban Offshore received new orders.
- Made two new oil and gas discoveries in Gujarat.
- OPaL awarded Rs 1,980 crore contracts for polyolefin projects.
- Regained top rank by market cap.
- Finalized three-year contract with Jet Drilling.
- Appointed Sudhir Vasudeva as CMD.
- Approved buying ADB stake in Petronet LNG.
- Split face value of shares from Rs 10 to Rs 5.
- Issued bonus shares in 1:1 ratio.
2012
- BHEL secured Rs 774 crore contract from ONGC for onshore drilling rigs.
- Inpex Corp acquired 26% stake in KG-DWN-2004/6 block.
- ONGC Videsh signed agreements for interest in Azeri, Chirag, Guneshli Fields and Baku-Tbilisi-Ceyhan Pipeline.
- Made huge oil discovery off West Coast to lift D1 output.
- Inked agreement with Cairn India for North Tapti gas.
2013
- Received global recognition in Green Rankings.
- ONGC Videsh signed MoU with Coordinating Ministry for Strategic Sectors, Ecuador.
- OVL and OIL signed agreements for Rovuma Area interest.
- ONGC Videsh signed MoU with Petrovietnam.
- ONGC Videsh signed agreements for 12% PI.
- ONGC Videsh’s De-Kastri Oil Export Terminal named Russia’s Best Oil Terminal 2012.
- Created world record for deepest water depth well.
- ONGC Videsh acquired interest in Azeri, Chirag and Guneshli Fields in Azerbaijan.
- Registered one of world’s biggest Clean Development Mechanism projects.
- Signed MoU with RIL on Eastern Offshore facility sharing.
2014
- ONGC, OVL and MRPL received Excellent Rating for 2012-13.
- Inked MoU with Mitsui for petroleum and natural gas opportunities.
- ONGC Videsh and Oil India signed PSC for two shallow water blocks in Bangladesh.
- Achieved highest-ever market capitalization of Rs 3.56 trillion.
- Rosneft and ONGC Videsh signed MoU for cooperation in Russian continental shelf.
- Spudded first well in Palar Basin.
- Signed MoU with Turkish Petroleum Corporation.
- ONGC Videsh signed PSCs for two onland blocks in Myanmar.
- Signed MoU with YPF S.A.
- Inked MoU with ASI and Tourism Ministry to conserve Taj Mahal.
- ONGC Videsh awarded exploration permit offshore New Zealand.
2015
- ONGC Energy Centre received US patent on hydrogen generation process.
- ONGC Videsh and Rosneft confirmed successful cooperation.
- Petroleum Minister congratulated on Diamond Jubilee.
- ONGC Videsh adjudged Best Miniratna at Dun & Bradstreet PSU awards.
- PM launched drilling at Satpayev in Kazakhstan.
- Received Golden Peacock Award for excellence in CSR.
- Collaborated with IITs for Make in India in energy sector.
- Acquired 43% stake in ONGC Mangalore Petrochemicals Ltd. (OMPL).
- Entered MoU with Super Wave Technology Pvt. Ltd. for hydraulic fracturing research.
- India Infrastructure Fund II acquired 23.5% stake in ONGC Tripura Power Company Ltd.
2016
- Approved Rs 5,050 crore investment in Tripura.
- Received green nod for drilling NELP-9 block in Gujarat.
- ONGC Videsh acquired 15% interest in Vankor Field in East Siberia, Russia.
- Shifted registered office to 5, Nelson Mandela Marg, Vasant Kunj, New Delhi.
2017
- Bought 80% stake in GSPC and took operatorship of Block KG-OSN-2001/3.
- Gas production increased by 10.8%; crude production by 2.9%.
- ONGC Videsh completed acquisition of 30% PI in PEL 0037 offshore Namibia.
- Azerbaijan extended ACG PSA to 2049 including ONGC Videsh.
- Received government nod for Rs 7,738 crore GSPC stake buy.
2018
- Opened India's 8th sedimentary basin with Kutch gas find.
- Bought 77.88 crore shares in HPCL at Rs 473.97 per share.
- Began drilling gas from onland block at Nagayalanka.
- Launched government museum clean-up drive.
2019
- ONGC Videsh made second oil discovery in Colombia.
- Signed pact with Indian Oil to reduce carbon emissions and enhance oil recovery.
- Investing Rs 83,000 crore in 25 projects with cumulative oil and gas gain over 180 MT.
2020
- ONGC Videsh to acquire 13.6667% PI in exploitation area and 15% PI in exploration area under RSSD PSC offshore Senegal.
- Bagged Golden Peacock Environment Management Award for second consecutive year.
- Signed MoU with NTPC for joint venture in renewable energy business.
- Contributed Rs 300 crore to PM Cares Fund for COVID-19.
2021
- Inked MoU with SECI for renewable and ESG projects.
- Launched sixth handicraft project under Azaadi Ki Amrit Mahotsav for especially-abled.
- Organized student study tour under Azadi Ka Amrit Mahotsav.
- Acquired 5% stake in Indian Gas Exchange (IGX).
2022
- Inked MoU with Equinor for collaboration on E&P and clean energy.
- Became first Indian E&P company to trade domestic gas on Indian Gas Exchange.
- ONGC Videsh announced new discovery in Colombia.
- Inked MoU with Greenko ZeroC for green hydrogen production.
- Inked MoU with Shell for carbon capture, utilization and storage.
2023
- Launched Shared Finance Services with IBM for vendor payment processes.
- Inked MoU with NTPC Green Energy Limited for renewable energy projects.
- Inked first-ever term contract with BPCL for crude oil sale under Marketing Freedom regime.
2024
- Commenced commercial production in CBM Bokaro Block.
- Commenced first oil production from KG-DWN-98/2 deepwater block in Krishna Godavari.
- Entered joint venture agreement with NTPC Green for renewable energy.
- Forged strategic partnership with Indian Oil to establish LNG plant near Hatta Gas Field.
- Collaborated with Government of Jammu & Kashmir to enhance healthcare facilities at Baltal and Chandanwari.
