ONGC Scores Big in Odisha Deepwater Exploration

State-owned Oil and Natural Gas Corporation Ltd (ONGC) has made a significant discovery in its deepwater exploration program. The company announced on September 21 that it struck gas at the Mahanadi Offshore Basin off the Odisha coast, approximately 43 km off Konark. This well, MN-DW18-1-H-D, was drilled to a target depth of 1,623 meters and recorded the gas strike at the 1,441-1,452 meter interval.

The discovery is part of ONGC's Samudra Manthan campaign, which aims to explore deepwater areas for hydrocarbon resources. The well's proximity to the coast offers potential for early monetization, subject to further appraisal and commercial evaluation. According to ONGC, the well has been flowing gas with encouraging flow and reservoir pressure for the last three days.

This discovery strengthens ONGC's position as India's largest oil and gas producer, which plans to spend more than ₹30,000 crore on capital expenditure this year. The company is focusing on four key areas: exploration, improving production from existing fields, building an integrated energy business, and investing in green and new-energy opportunities.