ONGC gains on signing agreement with Reliance Industries
Oil & Natural Gas Corporation is currently trading at Rs. 272.00, up by 3.35 points or 1.25% from its previous closing of Rs. 268.65 on the BSE.
The scrip opened at Rs. 270.00 and has touched a high and low of Rs. 275.75 and Rs. 269.00 respectively. So far 1371879 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 275.75 on 29-Jan-2026 and a 52 week low of Rs. 205.00 on 07-Apr-2025.
Last one week high and low of the scrip stood at Rs. 275.75 and Rs. 241.60 respectively. The current market cap of the company is Rs. 344699.65 crore.
The promoters holding in the company stood at 58.89%, while Institutions and Non-Institutions held 37.42% and 3.70% respectively.
Oil and Natural Gas Corporation (ONGC) and Reliance Industries have signed a path-breaking agreement to enable resource sharing for deepwater offshore E&P operations on India’s East Coast, particularly across the Krishna Godavari (KG) basin and Andaman offshore, marking a major step towards cost optimization, faster execution, and improved asset utilization in complex deepwater projects.
This agreement is aligned with a forward-looking initiative facilitated by the Oilfields (Regulation and Development) Amendment Act, 2025 (ORDA Act 2025), introduced by the Ministry of Petroleum and Natural Gas (MoPNG), which creates a clear enabling framework for E&P operators to share infrastructure and facilities, both onland and offshore, for more efficient development of oilfields and production of hydrocarbons.
Under MoPNG’s enabling initiative, ONGC and Reliance will pursue sharing of key resources required for offshore operations, which may include (but is not limited to): onshore and offshore processing Facilities, drilling rigs, marine vessels (MSV, Tugs, PSV), Power, Pipelines, logging and well services etc.
ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.
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