State-owned operator reveals new oil and gas finds in flagship offshore basin

India’s Oil & Natural Gas Corporation (ONGC) has revealed key offshore oil and gas discoveries in the Mumbai Offshore basin across two tracts awarded under the country’s open acreage and licensing policy (OALP) regime.

The state giant is pushing ahead with aggressive exploration plans to significantly boost domestic oil production and expand its exploration area to around 500,000 square kilometres over the long term.

ONGC said it has made discoveries at OALP-3 block MB-OSHP-2019/1 and OALP-9 block MB-OSHP-2023/1, both in the offshore Mumbai basin.

The first discovery was in OALP-3 block MB-OSHP-2019/1 during the fourth quarter of the 2025-2026 financial year, which ended on 31 March, with the MBS191HCA-1 exploration well flowing gas from the Pliocene-2 play in the Chinchini formation, ONGC said.

The second discovery was made in Q1 of the current 2026-2027 financial year with the MBSW0231AAA-1 exploration well in OALP-9 block MB-OSHP-2023/1.

This well was aimed at exploring the “Daman Sand-30” target, and has now been notified as a new prospect discovery.

ONGC noted MBSW0231AAA-1 is its “first discovery” in an OALP-9 block.

The operator also reported an onshore discovery with the Banskandi-21 exploration well, which was drilled in the pre-NELP (new exploration and licensing policy) block AA- ONJ/2 in the Cachar sector of Assam Arakan Fold Belt.

ONGC said Banskandi-21 was drilled “with the objective to explore hydrocarbon prospectivity of Upper and Middle Bhuban”.

“The reserves accreted through this well incrementally augment the existing gas reserve base in the Banskandi field and were notified as a new pool discovery,” ONGC added.

Link: https://www.upstreamonline.com/exploration/state-owned-operator-reveals-new-oil-and-gas-finds-in-flagship-offshore-basin/2-1-1995258