During FY 2012вЂ“13, ONGC had to share the highest ever under-recovery of INR 89765.78 billion (an increase of INR 17889.89 million over the previous financial year) towards the under-recoveries of Oil Marketing Companies ( IOC, BPCL and HPCL). Its Reserve Replacement Ratio for between 20, has been more than one. ONGC has many matured fields with a current recovery factor of 25вЂ“33%. Against a global decline of production from matured fields, ONGC has maintained production from its brownfields like Mumbai High, with the help of aggressive investments in various IOR (Improved Oil Recovery) and EOR ( Enhanced Oil Recovery) schemes. ONGC has discovered 7 out of the 8 producing Indian Basins, adding over 7.15 billion tonnes of In-place Oil & Gas volume of hydrocarbons in Indian basins. Its international subsidiary ONGC Videsh currently has projects in 17 countries. It is involved in exploring for and exploiting hydrocarbons in 26 sedimentary basins of India, and owns and operates over 11,000 kilometers of pipelines in the country. ONGC was founded on 14 August 1956 by Government of India. It is ranked 7th among the Top 250 Global Energy Companies by Platts. In a survey by Government of India for fiscal year 2019вЂ“20, it was ranked as the largest profit making PSU in India. In November 2010, the Government of India conferred the Maharatna status to ONGC. It is the largest government-owned-oil and gas exploration and production corporation in the country, and produces around 70% of India's crude oil (equivalent to around 57% of the country's total demand) and around 84% of its natural gas. It is under the ownership of Ministry of Petroleum and Natural Gas, Government of India.

Oil and Natural Gas Corporation ( ONGC) is an Indian government-owned crude oil and natural gas corporation. Hindustan Petroleum Corporation Limited.

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