ONGC

To further the development of oil and natural gas exploration and mining in India, the Ministry of Natural Resources and Scientific Research, GoI set up the Oil and Natural Gas Commission' in 1956 (Commission'). In October 1959, the Commission was converted into a statutory body according to the Oil and Natural Gas Commission Act, 1959. The main functions of the Commission were to plan, promote, organize and implement programs for the development of petroleum resources and the production and sale of petroleum and petroleum products produced by it, and to perform such other functions as the Central Government may, from time to time, assign to it. It was incorporated under the Companies Act on June 23, 1993, as Oil and Natural Gas Corporation Limited and was granted the certificate of commencement of business on August 10, 1993. According to the Oil and Natural Gas Commission Act, 1993, the undertakings of the Commission together with all its assets, and movable and immovable properties, contracts, licenses and privileges along with all liabilities and obligations of the Commission in relation to its undertakings stood vested in our Company and were transferred to our Company as on February 1, 1994.

1956: Also, it was being set up in 1956 with a significant contribution to both the industrial and economic growth of the country.

1992: It undertook the exploitation of Coal Bed Methane (or CBM) potential in Damodar valley.

It was incorporated as 'Oil and Natural Gas Corporation Limited.'

Also, the undertakings of the Commission were being transferred to the company.

1994: It also acquired the undertaking, business, assets, and liabilities of the Oil and Natural Gas Commission as of 1st February.