Has ONGC Really Dug 578 Wells in 2024-25, the Most in 35 Years?
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Synopsis
ONGC has achieved a remarkable milestone by drilling 578 wells in the 2024-25 fiscal year, the highest in 35 years. Union Minister Hardeep Singh Puri emphasizes the importance of this achievement in India's pursuit of energy independence. Discoveries in the Mumbai Offshore and KG basin add to the optimism surrounding the nation's energy sector.
Key Takeaways
- ONGC has drilled 578 wells in 2024-25, the highest in 35 years.
- This initiative is a pivotal step towards energy self-reliance.
- New discoveries in the Mumbai Offshore and KG basin are promising for future production.
- India imports about 85% of its oil.
- ONGC's advancements are crucial for national energy security.
New Delhi, June 21 (NationPress) The state-owned Oil and Natural Gas Corporation (ONGC) has successfully excavated 578 wells during the fiscal year 2024-25, marking the highest count in 35 years, as announced by Union Petroleum Minister Hardeep Singh Puri on Saturday.
The minister highlighted that the bold initiative taken by Prime Minister Narendra Modi concerning the 'No Go' zones is significantly propelling India's quest for energy independence.
“Under PM Modi's guidance, ONGC has achieved the remarkable feat of drilling 578 wells in 2024-25, the most in 35 years,” Puri noted on the X social media platform.
“Just as a solid foundation is essential for constructing a building, strengthening the exploration and production sector is vital for making India self-sufficient in energy,” the Union Minister further stated.
Recently, ONGC reported new oil and gas discoveries in the Mumbai Offshore hydrocarbon basin, which are anticipated to boost production for the upstream oil giant shortly.
The recent finds, dubbed 'Suryamani' and 'Vajramani', were located in blocks allocated under the Open Acreage Licensing Policy (OALP), as per a statement included in ONGC's quarterly financial results for January-March.
In addition to the Mumbai offshore discoveries, ONGC also made a significant hydrocarbon find in the KG basin land block during the same quarter. These discoveries come as a beacon of hope at a time when India's oil and gas imports have been consistently rising due to the aging fields managed by ONGC.
At present, about 85 percent of the nation's oil needs are fulfilled through imports, making India the third-largest oil importer globally. The domestic production of oil and gas in India is concentrated in regions such as Assam, Gujarat, Rajasthan, Mumbai High, and the Krishna Godavari Basin.
Point of View
I believe that ONGC's achievement reflects India's growing capability in energy production. The government's strategic decisions are fostering a more self-reliant energy sector, which is essential for national growth. It's imperative that we support and monitor these developments closely as they shape the future of our energy independence.
NationPress
21/06/2025
Frequently Asked Questions
What is the significance of ONGC drilling 578 wells?
This achievement marks the highest number of wells drilled by ONGC in 35 years, showcasing a strong commitment to boosting India's energy self-reliance.
What discoveries did ONGC make recently?
ONGC made notable oil and gas discoveries in the Mumbai Offshore hydrocarbon basin, named 'Suryamani' and 'Vajramani', expected to enhance production.
How much of India's oil is imported?
Currently, around 85 percent of India's oil requirements are met through imports, making it the world's third-largest oil importer.
Where are India's main oil production areas?
India's domestic oil and gas production is primarily concentrated in Assam, Gujarat, Rajasthan, Mumbai High, and the Krishna Godavari Basin.
What is the Open Acreage Licensing Policy?
The Open Acreage Licensing Policy (OALP) allows companies to explore hydrocarbon resources in specified areas, promoting investment and exploration.
