Oil & Natural Gas Corporation Limited has informed the Exchange regarding 'Monetisation of DUDP Project'.

ONGC · price

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Price reaction · full curve 14 horizons · vs prior close

+2.3%1-day move

₹281.10

prior close

₹282.75

base price

After-mkt

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5m10m15m30m1D2D3D4D5D7D15D1M2M3M

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AI summary

ONGC has commenced gas production (monetisation) from its Daman Upside Development Project (DUDP) in the western offshore, located about 180 km north-west of Mumbai. The milestone was achieved on 29.03.2026 through flowing gas from Platform B-12-24P, which has been successfully commissioned with gas sent to the Hazira Plant. The project, with a capital expenditure of about USD 1 billion, was executed in under two years from the date of award. Production from all wells will be ramped up in a phased manner going forward.

Likely market impact

This marks the start of revenue generation from a significant USD 1 billion investment, which should add to ONGC's production volumes and gas output. Positive operational update — execution was faster than typical timelines, which is a constructive signal for the company's project delivery capabilities.