Oil & Natural Gas Corporation (ONGC) has unveiled plans for a significant investment in Andhra Pradesh's Konaseema District, aiming to boost its operations in the Krishna-Godavari (KG) Basin. The state-owned oil and gas giant is set to pour over Rs 4,600 crore into drilling 10 development wells and establishing crucial infrastructure in the region.

Project Details

The ambitious project encompasses several key components:

• Drilling of 10 development wells
• Setting up two unmanned platforms
• Laying an offshore pipeline
• Establishing an onshore gas processing facility

ONGC has approached the Ministry of Environment and Forests for environmental clearance for this extensive project. The development will cover contract areas Chandrika, spanning 697 square kilometers, and GS49, covering 148 square kilometers, both located in the East coast.

Land Utilization and Environmental Considerations

The project's footprint includes:

• 26.30 hectares of land area at Odalarevu Terminal
• 8.70 hectares dedicated to developing a greenbelt

ONGC has allocated substantial funds for environmental management, with estimates pointing to:

• Rs 14.00 crore as capital cost
• Rs 3.00 crore annually for ongoing environmental management

Economic Impact

The project is expected to generate significant employment opportunities in the region:

• 150 direct jobs
• 310 indirect employment opportunities

Current Status and Next Steps

Despite ONGC's readiness to proceed, the Experts Appraisal Committee has deferred the proposal. The committee has requested additional information from ONGC, including:

• A comprehensive biodiversity assessment
• An environmental restoration action plan

These requirements underscore the importance of balancing economic development with environmental preservation in such large-scale energy projects.

Conclusion

ONGC's proposed investment in the KG Basin development project represents a significant step in India's efforts to enhance domestic oil and gas production. However, the project's progress now hinges on addressing environmental concerns and obtaining the necessary clearances. The outcome of this proposal could have far-reaching implications for both the energy sector and the local economy of Andhra Pradesh's Konaseema District.

Oil & Natural Gas Corporation (ONGC), India's leading oil and gas exploration company, has announced the record date for its final dividend for the fiscal year 2025. The company has fixed Thursday, September 4, 2025, as the record date for determining shareholder eligibility for the final dividend of ₹1.25 per share.

Dividend Details

Key Points

• The Board of Directors recommended the final dividend on May 21, 2025.
• The dividend payment is subject to approval by members at the upcoming Annual General Meeting (AGM).
• ONGC made this announcement in compliance with Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Company Statement

In an official communication to the National Stock Exchange of India Ltd. and BSE Limited, Rajni Kant, Company Secretary & Compliance Officer of ONGC, stated:

"In terms of Regulation 42 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, it is hereby informed that Thursday, 4th September 2025 has been fixed as 'Record Date' for determining eligibility of members for payment of Final dividend, subject to declaration by the members in the ensuing Annual General Meeting of the Company, if any."

Investor Implications

Shareholders of ONGC who are on the company's record as of September 4, 2025, will be eligible to receive the final dividend, provided it is approved at the AGM. Investors interested in receiving this dividend should ensure they hold ONGC shares before the record date.

The announcement of the record date provides clarity to investors and allows them to make informed decisions regarding their shareholdings in ONGC. The final approval of the dividend at the AGM will be the last step before the company initiates the dividend payment process.