Oil and Natural Gas Corporation (ONGC) is undergoing a significant transformation as it aligns itself with India’s ambitious climate goals. Backed by a comprehensive roadmap, ONGC is scaling up its low-carbon energy portfolio in a big way.
Driving India’s Decarbonization Goals
In full alignment with the national target to reduce carbon emissions by one billion tons and cut carbon intensity by 45% by 2030, ONGC has adopted a proactive and purpose-driven approach. Over the past five years, the company has reduced its Scope-1 and Scope-2 emissions by 17%, with a 2.66% reduction in FY 2022–23 alone.
Investing in a Greener Future
ONGC has committed to achieving Net-Zero Scope-1 and Scope-2 emissions by 2038, and is ramping up investments in green initiatives. With a planned investment of ₹1 trillion by the end of the decade, ONGC aims to scale up its renewable energy capacity to 10 GW by 2030.
Strategic collaborations are in the pipeline with leading energy players across renewables, green hydrogen, green ammonia, and other green hydrogen derivatives. These partnerships are poised to unlock synergies in emerging areas and accelerate ONGC’s green transition.
Pioneering Green Technologies and Innovation
Research and development are taking center stage at ONGC, especially in carbon capture, utilization, and storage (CCUS) technologies. These efforts are critical for reducing emissions from existing operations and enhancing overall sustainability.
Additionally, ONGC is exploring the setup of two greenfield Oil-to-Chemical (O2C) plants in India, reflecting a future-oriented strategy in refining and petrochemicals.
Exploration and Production Remain Core Pillars
Even as ONGC repositions itself for a low-carbon energy future, Exploration and Production (E&P) will remain the bedrock of its business. The company continues to focus on deep-water fields, frontier basins, and redevelopment of mature assets through advanced IOR/EOR techniques.
ONGC’s ‘Future Exploration Strategy’ aims to bring 500,000 sq. km under active exploration, acquiring 100,000 sq. km annually and investing ₹10,000 crore each year by 2025.
Building a Future-Ready ONGC
ONGC is dynamically evolving to meet the changing energy landscape. ONGC is maintaining its strength in oil and gas while aggressively investing in clean energy. The company is transitioning into a diversified energy major, embodying resilience, agility, and adaptability.
As per the company press release, ONGC is strengthening its identity with every initiative. It is not just an oil and gas giant but a future-ready energy company, committed to powering India sustainably.
