The Oil & Natural Gas Corporation Limited (ONGC) has announced robust financial results for Q1 FY 2025-26, posting a consolidated net profit of Rs. 11,554 crore, a growth of 18.2% year-on-year. Standalone crude oil production rose by 1.2% to 4.683 MMT, while new well gas revenue reached Rs. 1,703 crore, benefiting from a 20% premium over the domestic APM gas price.
During this quarter, ONGC achieved two offshore discoveries, “Vajramani” and “Suryamani”, in its operated acreages. The Vajramani well (MBS181HNA-1) in Mumbai Offshore delivered 2,122 barrels of oil per day and 83,120 m³/day of gas. Meanwhile, the Suryamani well (MBS202HAA-1) marked the first-ever hydrocarbon success in Mukta Formation within OALP Block MB-OSHP-2020/2, producing 413 barrels of oil per day and 15,132 m³/day of gas. These discoveries strengthen ONGC’s exploration portfolio and future production potential.
