ONGC Hits the Jackpot: Two New Hydrocarbon Discoveries

Oil and Natural Gas Corporation (ONGC) has announced two significant hydrocarbon discoveries—‘Suryamani’ and ‘Vajramani’—in the Mumbai Offshore basin, marking a major boost to India’s domestic energy production efforts.

The discoveries were made in exploration blocks awarded under the Government of India’s Open Acreage Licensing Policy (OALP). ‘Suryamani’ is located in the OALP-6 block MB-OSHP-2020/2, while ‘Vajramani’ lies in the OALP-3 block MB-OSHP-2018/1.

Announced alongside ONGC’s January–March quarterly financial results, the company highlighted that these new reserves will strengthen its upstream production capabilities. “These discoveries reinforce our commitment to increasing domestic output and reducing energy import dependence,” ONGC said in a statement.

The announcement comes as part of ONGC’s broader strategy to expand its exploration coverage to nearly 500,000 sq.km. India, which remains heavily reliant on energy imports, is working to enhance its upstream sector under the OALP framework to encourage domestic exploration and reduce foreign dependence.

ONGC plans to fast-track the appraisal and development of these fields to bring them into early production, in alignment with national goals of energy security and self-reliance.

News by Rahul Yelligetti.