ONGC expects natural gas output to rise 7%–8% as new wells come online

ONGC expects its natural gas production to grow 7% to 8% year on year, with new wells scheduled to start production in the next financial year, Chairman Arun Kumar Singh said. Gas from new wells already makes up about a quarter of total output and could increase to 30–36% in the near term. The company is executing offshore projects with investment of around Rs 33,000 crore to sustain and lift production, while benefiting from policy support such as reduced royalties and market-linked pricing reforms. The outlook points to stronger gas supply growth expectations in India and the region, offering fundamental support for natural gas commodity prices.