The well was drilled to a target depth of 1,623 metres and recorded the gas strike at the 1,441-1,452 metre interval. The well is located approximately 43 km off Konark and is the first well drilled in the Mahanadi Basin under the Samudra Manthan campaign.
ONGC said the well’s proximity to the coast offers potential for early monetisation, subject to further appraisal and commercial evaluation. The well has been flowing gas with encouraging flow and reservoir pressure for the last three days.
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The discovery strengthens ONGC’s deepwater exploration programme and India’s efforts to expand its indigenous hydrocarbon resource base, the company said. The well was spudded on July 25, 2026, by Petroleum and Natural Gas Minister Hardeep Singh Puri.
ONGC said the discovery, 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 on stream.
On August 27, ONGC Chairman and CEO Arun Kumar Singh, Director (Technology & Field Services) Vikram Saxena and Director (Exploration) O. P. Sinha visited the drillship Platinum Explorer and interacted with the team involved in the drilling campaign.
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Last month, ONGC said it plans to spend more than ₹30,000 crore on capital expenditure this year as India’s largest oil and gas producer looks to lift production and expand across the energy value chain.
The state-owned company is concentrating its spending and growth plans across four areas—more exploration, improving production from existing fields, building an integrated energy business and investing in green and new-energy opportunities. A major part of the strategy involves getting more oil and gas out of fields that ONGC has operated for decades.ONGC has brought in global energy major BP as a technical service provider to help improve production from its mature offshore fields. Under the arrangement, BP provides technical expertise while ONGC retains ownership and operational control.
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The partnership has been in place at Mumbai High since April 2025. The giant offshore field has been producing for decades, making it increasingly difficult to maintain output as reservoirs mature.
ONGC is trying to tackle problems including increasing amounts of water being produced alongside oil, a rising gas-to-oil ratio and increasingly complex reservoir conditions. The potential production gains are substantial.
Shares of Oil and Natural Gas Corporation Ltd ended at ₹235.25, up by ₹2.75, or 1.18%, on the BSE.
First Published: Sept 21, 2026 4:57 PM IST