ONGC plans $10.5 billion deepwater push as India seeks to boost domestic oil and gas output

ONGC plans to invest $10.5 billion over five years to explore deepwater fields. Chairman A.K. Singh said, "India has significant untapped oil and gas reserves in deepwater blocks." The company will drill 87 wells by March 2031 to boost domestic output as production fell for the 11th consecutive year.