ONGC Strikes Gas in Mahanadi Deepwater Basin Off Odisha Coas

(ONGC) has discovered natural gas at the MN-DW18-1-H-D deepwater well in the Mahanadi Offshore Basin, around 43 km off the Odisha coast, under its Samudra Manthan exploration programme. The well was drilled to a target depth of 1,623 metres, with gas encountered at a depth of 1,441–1,452 metres. The company said the well has shown encouraging gas flow and reservoir pressure. As the first well drilled by ONGC in the Mahanadi Basin under the current campaign, the discovery strengthens its deepwater exploration efforts. Its proximity to the coast could support relatively faster development, subject to further appraisal and commercial evaluation. The discovery could also be considered for development using shared infrastructure under the PNG Rules, 2025, potentially supporting faster monetisation of deepwater resources. ONGC shares closed at ₹235.63 on Monday, up 1.22%. Disclaimer: Investment in securities market are subject to market risks. Read all the related documents carefully before investing.