ONGC to invest ₹1L/cr for 87 deepwater ultra-deepwater wells
Business
ONGC just announced it has plans to infuse ₹1 lakh crore for deepwater and ultra-deepwater exploration by 2030.
The plan? Drill 87 deepwater and ultra-deepwater wells using advanced tech and government support.
As Chairman and CEO Arun Kumar Singh put it, this move was fuelled by the government's push.
ONGC arm negotiating Venezuelan project terms
On the global front, ONGC's international arm is in advanced talks with Venezuela to take a bigger role in key oil projects where it already owns stakes.
Negotiations are focused on how things will run day-to-day, money matters, and making sure operations stay smooth, even if things get tricky.