ONGC plans Rs 30,000 cr capital expenditure for FY22

Oil & Natural Gas Corporation Limited  (ONGC) said it will procure equipment and services worth over Rs 30,000 crore to support its oil and gas exploration and production operations, which will provide local entities business and support 'Aatmanirbhar Bharat' initiative. ONGC is going all out in its efforts to realise the dream of Aatmanirbhar Bharat. “ONGC estimates to spend Rs 15,500 crore in major lumpsum turnkey projects, Rs 13,600 crore on major services, Rs 2,250 crore on major material procurement in the financial year 2021-2022,” a company statement said.

At the heart of its endeavours are enhanced transparency and streamlined contracting practices, which will enable the promotion of a business-SAVVY environment for ONGC's business partners," it said. To promote its renewed push to ease contracted business practices, ONGC organised a special online business partners' meet, titled 'Building Bridges in ONGC's Supply Chain: Aatmanirbhar Bharat: Prosperous India'.

Shares of Oil & Natural Gas Corporation Limited  last closed at Rs. 118.90 per share, with little changes from its previous closing, on the National Stock Exchange (NSE).


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