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.

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.