ONGC posts consolidated net profit of ₹ 11,554 crore, up by 18.2%

The Oil & Natural Gas Corporation Limited (ONGC) has declared results for Q1 FY’26 with registering consolidated net profit of ₹ 11,554 crore, up by 18.2% while Standalone crude oil production up by 1.2% and new well gas revenue crosses ₹ 1,700 crore at its 397th meeting held on August 12, 2025. The ONGC Board approved the results for First Quarter (Q1) of FY 2025-26. Gas from new wells is eligible for a 20% premium over the domestic APM gas price. ONGC is actively working to boost output from such wells. In Q1 FY’26, revenue from new well gas stood at ₹1,703 crore, delivering an additional ₹333 crore compared to the APM gas price. Production Performance: The standalone crude oil production during Q1 FY’26 was 4.683 MMT with an increase of 1.2% over Q1FY’25. The Standalone natural gas production was 4.846 BCM in Q1FY’26 as against 4.863 BCM in Q1FY’25. Exploration Performance: ONGC declared total 2 discoveries (both in offshore) during Q1 FY 2025-26 in its operated acreages. Out of these, one is prospect and one is pool discovery. Vajramani: Exploratory well MBS181HNA-1 was drilled in OALP-III Block MB-OSHP-2018/1 Mumbai Offshore (SW) with the objective to explore hydrocarbon prospectivity of Mahuva sands, Daman Sand-60 and Panna Clastics. During production testing, Object-III in Mahuva Formation flowed Oil @ 2122 BPD and Gas @ 83120 m3/day. This discovery is an independent fault bounded nosal feature and lies in the western part of the block MB-OSHP-2018/1. The success in well MBS181HNA-1 was notified as New Prospect Discovery named as "Vajramani". MBS202HAA-1: In exploratory well MBS202HAA-1, object-II was tested in Mukta Formation which flowed oil @ 413 BPD and gas @ 15,132 m3/day. This hydrocarbon success in Mukta Formation was encountered for the first time in OALP Block MB-OSHP-2020/2 and was notified as “New Pool Discovery” of Suryamani prospect. Vajramani: Exploratory well MBS181HNA-1 was drilled in OALP-III Block MB-OSHP-2018/1 Mumbai Offshore (SW) with the objective to explore hydrocarbon prospectivity of Mahuva sands, Daman Sand-60 and Panna Clastics. During production testing, Object-III in Mahuva Formation flowed Oil @ 2122 BPD and Gas @ 83120 m3/day. This discovery is an independent fault bounded nosal feature and lies in the western part of the block MB-OSHP-2018/1. The success in well MBS181HNA-1 was notified as New Prospect Discovery named as "Vajramani". MBS202HAA-1: In exploratory well MBS202HAA-1, object-II was tested in Mukta Formation which flowed oil @ 413 BPD and gas @ 15,132 m3/day. This hydrocarbon success in Mukta Formation was encountered for the first time in OALP Block MB-OSHP-2020/2 and was notified as “New Pool Discovery” of Suryamani prospect.