ONGC Projects $10.3 Billion Revenue Boost with Production Ramp-Up

Oil and Natural Gas Corporation (ONGC) has announced ambitious plans for a significant production ramp-up in collaboration with BP at the Mumbai High field. Crude oil production is projected to increase by 44%, while gas production is expected to rise by 89%, generating an additional $10.3 billion in revenue by FY'28. The initiative will also contribute $5 billion to the Government of India’s exchequer through royalties and levies. Full-scale visibility of these gains is anticipated from FY'26, with peak outputs expected by FY'28, ensuring a robust energy supply for India.

Source: Economic Times, Financial Express, Business Standard