Oil and Natural Gas Corporation
In a survey by Government of India for fiscal year 2019–20, it was ranked as the largest profit making PSU in India. It is ranked 7th among the Top 250 Global Energy Companies by Platts. ONGC was founded on 14 August 1956 by the Government of India. It is involved in exploring for and exploiting hydrocarbons in 26 ONGC has discovered 6 of the 7 commercially producing Indian Basins, in the last 50 years, adding over 7.15 billion tonnes of In-place Oil & Gas volume of hydrocarbons in Indian basins. Against a global decline of production from matured fields, ONGC has maintained production from its brownfields like Mumbai High, with the help of aggressive investments in various IOR (Improved Oil Recovery) and EOR (Enhanced Oil Recovery) schemes. ONGC has many matured fields with a current recovery factor of 25–33%. Its Reserve Replacement Ratio for between 2005 and 2013, has been more than one.