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How ONGC Is Trying To Overcome Its Biggest Challenge
Oil and Natural Gas Corp.’s production declined over the past few years as its fields aged and then the Covid-19 pandemic squeezed demand. India’s biggest explorer is looking to reverse the trend.
The company’s output has been falling since 2018-19, according to data compiled from the Ministry of Petroleum and Natural Gas. The volume of fuels extracted has missed targets since 2016-17.
ONGC is relying on in-house innovation, inducting better technology and collaborating with global experts to mitigate production shortages, according to its annual report for 2020-21. Queries emailed to the company for further information remained unanswered.
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