ONGC drills deepwater well in Mahanadi basin under Samudra Manthan Campaign
This story was originally published at 16:03 IST on 25 July 2026
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MUMBAI – Oil and Natural Gas Corp. Ltd. Saturday said Minister of Petroleum and Natural Gas Hardeep Singh Puri flagged off the company's exploratory well in the Mahanadi offshore basin in Odisha. This comes under the government's Samudra Manthan Campaign, which seeks to explore India's deep and ultra-deepwater energy resources, the company said in an exchange filing.
The company's recent Utkal and Konark discoveries have strengthened the hydrocarbon prospective of the Mahanadi offshore basin. Building on these successes, the exploratory well is being drilled approximately 23 nautical miles from Konark, off the coast of Odisha. Recent exploration successes in the Cauvery, Mahanadi, and Andaman basins have reinforced the promise of India's offshore frontier, the company said.
For the March quarter, the company had reported a net profit of INR 66.50 billion on revenues of INR 359.28 billion. Friday, its shares closed at INR 248.76 on the National Stock Exchange, down over 1% from Thursday. End
Reported by Akash Tirlotkar
Edited by Himanshi Gupta
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