ONGC has completed drilling of six exploratory wells so far. The company has a target of 36 exploratory wells in FY14.
Meanwhile, the company's net profit surged by 19.07% at Rs 4781.79 crore as compared to Rs 4015.98 crore for the quarter ended June 30,2013. Its total income increased by 10.93% to Rs 22746.45 crore for the quarter under review from Rs 20505.03 crore for the corresponding quarter of the previous year.
ONGC is an Indian multinational oil and gas company headquartered in Dehradun, India. It is India's largest oil and gas exploration and production company. It produces around 69% of India's crude oil (equivalent to around 30% of the country's total demand) and around 62% of its natural gas.
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