Oil & Natural Gas Corporation has appointed Bhaskar Chowdary Nettem as Director (Production), effective September 21, 2026. The Board of Directors approved the move following a letter from the Ministry of Petroleum and Natural Gas.

The appointment aligns with Regulation 30 of the SEBI (LODR) Regulations, 2015. Nettem will serve until his superannuation on September 30, 2029, or until further orders.

Executive Profile

Nettem brings over three decades of experience in the energy sector, primarily with ONGC. A mechanical engineer, he began his career in 1991 at the Mumbai High Offshore Oilfield. He later earned a master's degree in international business in 2006.

His career highlights include:

• Leading feasibility studies for greenfield refinery projects at Kakinada and Barmer.
• Playing a key role in the joint venture for production from the Mangala oilfields in Rajasthan.
• Commissioning the world's longest heated crude oil pipeline from Barmer to Bhogat.
• Gaining international exposure through ONGC Videsh Limited in deepwater operations.
• Serving as Asset Manager for the Assam Asset at Nazira and the Mumbai High Asset.

He currently serves as Chairman of IGGL, a joint venture developing gas pipelines in North East India.

Regulatory Compliance

The company confirmed that Nettem is not debarred from holding office by any SEBI order or other authority. There are no disclosed relationships between directors regarding this appointment.

Oil & Natural Gas Corporation Ltd has formally disputed its ESG rating from Crisil ESG Ratings & Analytics Ltd, describing the scores as low and factually incorrect. The company highlighted discrepancies in governance metrics and environmental scoring against its decarbonization efforts.

Rating Dispute Details

The company received an ESG Rating Report from Crisil but clarified it was not engaged for its preparation nor consulted during finalization. ONGC stated the assigned scores do not reflect its sustainability disclosures or governance structure.

Governance and Environmental Concerns

ONGC pointed to specific inaccuracies in the report regarding board attendance. The company noted that independent directors attended 100% of Board and Board Level Committee meetings, with only one absence (~92.30%) recorded. This contradicts the lower governance evaluation implied by the overall scores.

On the environmental front, the company emphasized its target to achieve net zero Scope 1 and 2 operational emissions by 2038. Despite elaborate disclosures on Scope 3 emissions and decarbonization initiatives detailed in its Business Responsibility and Sustainability Report (BRSR), ONGC received a below-average score of 44 out of 100 on environmental parameters.

Regulatory Disclosure

The intimation was issued pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The disclosure was signed by Shashi Bhushan Singh, Company Secretary & Compliance Officer, on September 18, 2026.