ONGC jumps after signing landmark pact with Reliance to share deepwater resources on East coastONGC jumps after signing landmark pact with Reliance to share deepwater resources on East coast

Introduction

Leading energy and oil companies signed a strategic agreement to share deepwater offshore resources on India’s East Coast, covering KG basin and Andaman for efficient operations.

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Share price movement of ONGC

On January 29, 2026, Oil and Natural Gas Corporation Ltd opened at ₹270.00, up 0.50% from its previous close of ₹268.65. The stock reached a high of ₹275.75 (2.65%) and a low of ₹269.00. By 10:34 AM, it traded at ₹273.10, a 1.66% increase, with a market cap of ₹3,43,567.43 crore.

ONGC-Reliance Deepwater Resource Sharing

ONGC and Reliance Industries signed an agreement on 27 January 2026 to share deepwater offshore resources on India’s East Coast, including the Krishna Godavari basin and Andaman offshore.

The collaboration will cover onshore and offshore facilities, drilling rigs, marine vessels, pipelines, power, and well services to optimize costs, improve execution speed, and enhance resource utilization in deepwater projects.

The agreement aligns with the ORDA Act 2025, enabling infrastructure sharing, faster mobilization, stronger operational resilience, and supports India’s energy security through collaborative domestic exploration and production of hydrocarbons.

Stock performance of ONGC for Period of 1 week, 6 months, and 1 year

Oil and Natural Gas Corporation Ltd delivered a 10.1% return over the past week, gained 13.4% over six months, and increased 6.83% over the past 1 year.

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Shareholding pattern of ONGC

Particulars	Dec 2025	Sep 2025	Jun 2025
Promoter	58.90%	58.90%	58.90%
FII	7.40%	7.00%	7.10%
DII	30.00%	30.30%	30.20%
Public	3.70%	3.90%	3.90%

About ONGC

Oil and Natural Gas Corporation Ltd (NSE: ONGC) is India’s largest crude oil and gas producer, focusing on exploration, production, energy security, sustainability, and technology-driven operations.

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Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time. The securities quoted are exemplary and are not recommendatory.

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