COINPURO - Crypto Currency Latest News logo COINPURO - Crypto Currency Latest News logo
Coinpaper 2026-03-31 09:17:08

ONGC Share Price Rises as Daman Project Starts Gas Output

The share price of the largest government-owned oil and gas explorer and producer in India is up despite the generally bearish sentiment in the stock market. On Monday, the share price of Oil and Natural Gas Corporation Limited (ONGC) closed at ₹284.90 before the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) halted trading on account of Mahavir Jayanti on Tuesday. The stock’s price is up 6.50% over the past five trading days and 0.96% over the past month. Daman Project Commences Gas Production The stock rallied as the state-owned company disclosed that it has commenced gas production from its Daman Upside Development Project in the Arabian Sea. This comes amid global disruptions caused by the geopolitical conflict in the Middle East. “It is hereby informed that, the Daman Upside Development Project (DUDP), in the western offshore, located about 180 Kms north west of Mumbai and about 80 Kms south of Pipavav, Gujarat, with Capex of about USD 1 billion has achieved a significant milestone on 29.03.2026 by monetisation through flowing gas from Platform B-12-24P,” ONGC stated in a regulatory filing dated March 29. The company said that the B-12-24P platform has now delivered gas to ONGC’s Hazira processing plant less than two years from the time of contract award. Bolstering India’s Domestic Energy Supply The development is anticipated to bolster the nation’s domestic energy supply as the International Energy Agency forecasts that India’s gas demand will increase by 60% to reach 103 billion cubic meters per year by 2030. “This has been achieved through strong project execution, innovative use of the Drill-Deck and strong performance by drilling and Production teams. This milestone marks the commencement of gas monetisation from the DUDP Project. Production from all wells will be ramped up in a phased manner,” ONGC said.

La maggior parte ha letto le notizie

coinpuro_earn
Leggi la dichiarazione di non responsabilità : Tutti i contenuti forniti nel nostro sito Web, i siti con collegamento ipertestuale, le applicazioni associate, i forum, i blog, gli account dei social media e altre piattaforme ("Sito") sono solo per le vostre informazioni generali, procurati da fonti di terze parti. Non rilasciamo alcuna garanzia di alcun tipo in relazione al nostro contenuto, incluso ma non limitato a accuratezza e aggiornamento. Nessuna parte del contenuto che forniamo costituisce consulenza finanziaria, consulenza legale o qualsiasi altra forma di consulenza intesa per la vostra specifica dipendenza per qualsiasi scopo. Qualsiasi uso o affidamento sui nostri contenuti è esclusivamente a proprio rischio e discrezione. Devi condurre la tua ricerca, rivedere, analizzare e verificare i nostri contenuti prima di fare affidamento su di essi. Il trading è un'attività altamente rischiosa che può portare a perdite importanti, pertanto si prega di consultare il proprio consulente finanziario prima di prendere qualsiasi decisione. Nessun contenuto sul nostro sito è pensato per essere una sollecitazione o un'offerta