ONGC Share Price in Focus; Spuds First Deepwater Well in Mahanadi Basin Under Samudra Manthan

Oil and Natural Gas Corporation (ONGC) has commenced drilling its first deepwater exploratory well, MN-DW18-1-H-D, in the Mahanadi Offshore Basin under the Government of India's Samudra Manthan Mission.  

The well was virtually spudded by Union Petroleum and Natural Gas Minister Hardeep Singh Puri on July 25, 2026.  

Deepwater Exploration Campaign Begins 

The commencement of drilling marks the start of ONGC's deepwater exploration programme under the Samudra Manthan Mission, aimed at exploring India's deep and ultra-deepwater hydrocarbon resources.  

Well Located Near Konark Discovery 

The MN-DW18-1-H-D well is being drilled around 23 nautical miles from the Konark discovery off the Odisha coast.  

ONGC said its recent Utkal and Konark discoveries have strengthened the hydrocarbon potential of the Mahanadi Offshore Basin.  

Mission Supports Offshore Energy Exploration 

ONGC said India has opened nearly one million square kilometres of previously restricted offshore areas for exploration.  

The company added that India's eastern and western offshore basins, extending to water depths of up to 3,000 metres, are estimated to hold more than 5,600 MMTOE of hydrocarbon potential.  

Read More: Chennai Metro Plans 25 Km Extension to Chengalpattu, Floats Tender for DPR! 

ONGC Share Price Performance 

As of July 24, 2026, ONGC share price closed at ₹248.76 per share, reflecting a decline of 1.43% from the previous trading session. 

Conclusion 

ONGC has commenced drilling its first deepwater exploratory well in the Mahanadi Offshore Basin under the Samudra Manthan Mission. The well is located near the Konark discovery and forms part of the company's deepwater exploration programme in offshore India.  

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