Oil and Natural Gas Corporation (ONGC) is reportedly planning to buy 27 drilling rigs, in a bid to replace nearly half of its ageing onland rigs. The estimated cost would be around Rs 3000-3500 crore. The new drilling rigs will help the company to make things more competent.
ONGC is India’s largest government-run corporation and produces about 70% of India’s crude oil and natural gas. The corporation is the biggest public sector commercial organization in India.