ONGC Discover Gas in Mahanadi Deepwater Basin Off Odisha

(ONGC) has made a natural gas discovery at the MN-DW18-1-H-D deepwater well in the Mahanadi Offshore Basin, located around 43 km off the Odisha coast, as part of its Samudra Manthan exploration programme. The well reached a target depth of 1,623 metres, with gas-bearing zones identified between 1,441 and 1,452 metres. ONGC reported encouraging gas flow and reservoir pressure from the well. The discovery marks ONGC’s first drilling activity in the Mahanadi Basin under the current campaign and adds momentum to its deepwater exploration programme. Its location relatively close to the coastline may offer development advantages, subject to further appraisal and commercial assessment. The discovery may also be evaluated for development through shared infrastructure under the PNG Rules, 2025, which could facilitate the monetisation of deepwater resources. ONGC shares ended Monday at ₹235.63, rising 1.22%. Disclaimer: Investment in securities market are subject to market risks. Read all the related documents carefully before investing.