Oil and Natural Gas Corporation Limited announced the superannuation of four Executive Directors effective October 1, 2026. This change in senior management was disclosed to stock exchanges in compliance with regulatory requirements.

The company filed a disclosure under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing highlights changes at the level one below the Board of Directors.

Management Changes

The following Executive Directors are retiring from their positions due to superannuation:

The disclosure was signed by Shashi Bhushan Singh, Company Secretary and Compliance Officer, on October 1, 2026.

Oil & Natural Gas Corporation struck gas at deepwater well MN-DW18-1-H-D in the Mahanadi Offshore Basin on September 18, 2026. The discovery occurred off the Odisha coast under the Samudra Manthan initiative.

The well reached a target depth of 1,623 metres, with the gas strike recorded in the 1,441–1,452 metre interval. Located approximately 43 km off Konark, this is the first well drilled in the Mahanadi Basin under the campaign. Its proximity to the coast offers potential for early monetisation, subject to further appraisal and commercial evaluation.

Exploration Details

The drilling campaign began when Petroleum & Natural Gas Minister Hardeep Singh Puri spudded the well on July 25, 2026. Senior management, including Chairman & CEO Arun Kumar Singh, Director (Technology & Field Services) Vikram Saxena, and Director (Exploration) O. P. Sinha, visited the drillship Platinum Explorer on August 27, 2026, to interact with the team.

Operational Status

The well has been flowing gas with encouraging flow rates and reservoir pressure for the last three days. This discovery strengthens ONGC's deepwater exploration programme and supports India's efforts to expand its indigenous hydrocarbon resource base.

What the Numbers Show

The strike interval sits relatively shallow within the total target depth, indicating efficient drilling progress toward the reservoir zone. With the well located just 43 km offshore, the operational setup may allow for faster infrastructure deployment compared to deeper-water fields, potentially accelerating the timeline for appraisal and monetisation.

The find could be developed through shared facilities enabled by the PNG Rules, 2025, alongside other discoveries in the area, bringing deepwater resources onstream.