ONGC Spuds Exploratory Well in Mahanadi Basin, Marking Deepwater Frontier push
Oil and Natural Gas Corporation Ltd (ONGC) has commenced drilling its exploratory well, MN-DW18-1-H-D, in the Mahanadi Offshore Basin. The spudding of the well was virtually performed by the Minister of Petroleum and Natural Gas, Shri Hardeep Singh Puri, from New Delhi on July 25, 2026.The operation represents a major milestone as ONGC embarks on an ambitious program to explore India's deep and ultra-deepwater energy resources under the Government of India’s Samudra Manthan Campaign. This initiative underscores a significant move toward unlocking India's vast offshore hydrocarbon potential.
The Mahanadi and Andaman basins are highlighted as key areas reinforcing the promise of India's offshore frontier. These eastern and western offshore basins, which extend to water depths reaching up to 3,000 metres, are estimated to hold over 5,600 MMTOE of hydrocarbon potential.
Focus on Deepwater Exploration
To drive this national mission, ONGC established its flagship Deepwater Exploration Mission Centre (DeepX) in Mumbai on January 5, 2026. DeepX is designed to integrate ONGC’s geoscientific expertise, advanced interpretation capabilities, specialized training, and strategic global collaborations under the philosophy of 'One Company, One Data'.
The current exploration effort is building upon previous successes. Recent discoveries in the Utkal and Konark basins have strengthened the hydrocarbon prospectivity of the Mahanadi Offshore Basin. The MN-DW18-1-H-D well is being drilled approximately 23 nautical miles from Konark, off the Odisha coast.
The commencement of drilling signals the start of one of India's most challenging deepwater exploration campaigns. Every discovery and evaluated prospect will contribute toward enhancing domestic production, reducing import dependence, and strengthening India’s energy security and self-reliance.
ONGC Stock Price Movement
Shares of Oil & Natural Gas Corporation Limited slipped down by 1.37% on Friday, settling at ₹248.76 after falling ₹3.47 from the previous close. The stock traded within a range defined by a high of ₹253.56 and a low of ₹248.27, with 7.6 million shares transacted during the session.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
The information provided is for general informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any securities. Readers are advised to rely on their own assessment and judgment and consult appropriate financial advisers, if required, before taking any investment-related decisions.
Any views, opinions, or statements expressed, where applicable, are those of the respective analysts or experts and do not reflect the views of this website. The website has no association with such viewpoints and does not assume any responsibility for them.