/INS. Maharatna oil PSU, Oil and Natural Gas Corporation (ONGC), is committed to a profound transformation into a low-carbon energy player, investing Rs one lakh crore by the end of this decade. The investment will be channelled into diverse low-carbon energy opportunities, including renewables and green hydrogen. ONGC is actively aligning itself with India’s carbon reduction goals.

ONGC’s efforts have led to a 17 per cent reduction in Scope-1 and Scope-2 emissions over the past five years. The company plans to increase its green initiatives, aiming for net-zero Scope-1 and Scope-2 emissions by 2038. Collaboration with key players in the energy sector is underway for low-carbon ventures, encompassing renewables, green hydrogen, and derivatives.

As part of its forward-looking strategy, ONGC is considering the establishment of two green-field O2C plants in India and is focused on expanding its renewable portfolio to 10 GW by 2030. The company is also committed to research in carbon capture, utilisation, and storage (CCUS) technologies.

ONGC’s core focus remains oil and gas exploration and production (E&P), with aggressive exploration expansion and a strong commitment to maintaining production from existing fields. Under its ‘Future Exploration Strategy’, ONGC aims to bring five lakh square kilometres under active exploration, dedicating Rs 10,000 crore annually to exploration by 2025.