Security Printing and Minting Corporation of India Ltd.
OIL AND NATURAL GAS CORPORATION
तेल एवं प्रकृतिक गैस निगम

Proof Price₹9089.00 Proof Quantity
UNC Price₹7364.00UNC Quantity
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Oil and Natural Gas Corporation Limited (ONGC) is a leading national oil company of India engaged mainly in exploration, development and production of crude oil, natural gas and some value added products such as Liquefied Petroleum Gas (LPG), Naptha etc.

During the pre-independence period, the Assam Oil Company in the north-eastern and Attock Oil Company in north western part of the undivided India were the only Oil companies producing oil and country, with minimal exploration input. The major part of Indian sedimentary basins were deemed to be unfit for development of oil and gas resources. After independence, the government realized the importance of oil and gas for rapid industrial development and its strategic role in defence. Consequently, during framing of the industrial policy statement of 1948, the development of petroleum industry in the country was considered to be of utmost necessity. In 1955 Oil and Natural Gas Directorate was set up to develop the oil and natural Gas resources in the various region of the country as a part of the public sector development. In August 1956, the Directorate was raised to the status of a Commission with enhanced powers. In October 1959, the Commission was converted into a statutory body. ONGC was subsequently converted into a public limited company in June, 1993 following the new liberalized economic policy. ONGC was recognized as a limited company under the Companies Act, 1956 in February, 1994.

ONGC, since its inception, has been instrumental in transforming the country’s limited upstream sector into a large viable playing field, with its activities spread throughout India and significantly in overseas territories. As the highest profit making corporation, ONGC has scripted India’s hydrocarbon saga by discovering 5 of the 6 basins. ONGC has made 310 hydrocarbon finds within the country and has discovered nearly 6 billion tones of in-place oil and gas reserves in India. ONGC meets 84% of India’s domestic production of oil and gas. It has established its competitive edge, by bagging 59 out of the 110 blocks, awarded in the five rounds in the NELP bidding. ONGC is ranked 24th among Global Energy Companies by Marked Capitalization in PFC Energy 50. It is World’s 2nd largest E&P (Exploration & Production) Company; and first in profits in 3rdPlatts EBT Survey (2004). ONGC is placed at the top of all Indian Corporate listed in Forbes Global 200 (rank 265th) and Financial Times Global 500 (Rank 326th). It is ranked 454th in Fortune 500 by turnover.