ONGC has declared results for Q2 FY’26 posting consolidated net profit of ₹ 12,615 crore - up by 28.2% and declaring interim dividend of ₹ 6 on face value of ₹ 5 per share and standalone crude oil production continues to grow. Highlights: Posts consolidated net profit of ₹ 12,615 crore during Q2 FY’26, up by 28.2%; Standalone Q2 FY’26 net profit stands at ₹ 9,848 crore; Standalone crude oil production up by 1.2%; Share of New well gas (NWG) crosses 21% of total gas revenue from nomination fields in H1 FY’26. Interim dividend of 120% declared. In its 402nd meeting held on 10th November 2025, ONGC Board approved the results for Second Quarter (Q2) of FY 2025-26. Gas from new wells is eligible for a 20% premium over the domestic APM gas price. ONGC is actively working to boost output from such wells. During H1 FY’26, revenue from new well gas stood at ₹3,352 crore, delivering an additional ₹651 crore revenue compared to the APM gas price. Dividend: the Board has approved interim dividend of 120%, i.e. ₹ 6 on each equity share of ₹5. The total payout on this account will be ₹ 7,548 Crore. The Record date for distribution of dividend has been fixed for 14th November 2025 which has been intimated to the stock exchanges. Production Performance: With persistent efforts towards increasing domestic production, ONGC has been able to achieve increasing trend in crude oil production. The standalone crude oil production (excluding condensate) during Q2 FY’26 and H1 FY’26 was 4.630 MMT and 9.314 MMT respectively registering a growth of 1.2% over corresponding periods of FY 25; On the gas production front also, ONGC has been able to arrest the degrowth. The decline, which was 0.35% in Q1 FY’26 over Q1 FY’25 has been brought down to 0.04% in Q2 FY’26 over Q2 FY’25. Exploration Performance: ONGC notified two new hydrocarbon discoveries during H1 FY’26. New prospect discovery ‘Vajramani’ and new pool discovery in well MBS202HAA-1 were declared in Q1: Pursuant to the declaration of the National Deepwater Exploration Mission – “Samudra Manthan” by the Honourable Prime Minister on the 79th Independence Day, ONGC is strategizing and mobilizing resources to align its deepwater exploration activities with the National Mission. ONGC’s ultra-deepwater exploratory drilling campaign is progressing at full pace in the Andaman Offshore region, while seismic data acquisition activities are underway in the deepwater areas of both the East and West Coasts. In pursuance to find hydrocarbons in lesser explored category-II & III basins, during H1 FY’26, ONGC drilled total 8 exploratory wells in Andaman offshore, Bengal onland, Kutch onland, Narmada and South Rewa Basins. Further exploratory drilling activities in these basins are in progress. Other Highlights: Monetisation of DSF block Chinnewala Tibba in RKOEA: ONGC monetised the Discovered Small Field (DSF-II) Block RJ/ONDSF/Chinnewala/2018, in the Rajasthan Kutch Onland Exploratory Asset (RKOEA) on 25.08.2025 by commencing Gas Sales to M/s RRVUNL. ONGC inks MoU for monetization of Jantapathar Gas Field: ONGC has entered into a memorandum of understanding (MoU) with Vedanta Ltd. for the joint development of the Jantapathar Gas Field in the A&AA Basin for its early monetisation. ONGC, BP Exploration (Alpha) Ltd, and Reliance Industries Ltd sign Joint Operating Agreement for exploration in Offshore Block in Saurashtra Basin: The said block GS-OSHP-2022/2, awarded under the Open Acreage Licensing Policy (OALP) Bid Round-IX, is classified under Category-II basins. The consortium, with ONGC designated as the Operator, is set to undertake exploratory activities aimed at assessing and harnessing the hydrocarbon potential of the region. ONGC, in collaboration with Oil India Limited (OIL), has formally signed Joint Operating Agreement (JOA) for two onland Blocks and one Ultra Deepwater Block awarded under the OALP Bid Round-IX.ONGC executed a binding Heads of Agreement (HoA) with M/s Mitsui OSK Lines Limited, Japan for forming JVCs to own two number of Very Large Ethane Carriers (VLECs). These VLECs will be on long term charter hire by ONGC from 2028 onwards for bringing ethane from USA to India. The ethane will be used as feedstock by OPaL, a subsidiary company of ONGC. ONGC signs first-ever LPG Sale & Purchase Agreement with HPCL: The agreement was signed at New Delhi, on 18.08.2025. LPG being a clean, reliable, and widely used household and industrial fuel, the initiative also supports India’s LPG import substitution efforts and advances the vision of Atmanirbhar Bharat.ONGC CIL JV, JSW Steel Ltd signed co-development agreement for Jharia CBM Block on 12.08.2025 for undertaking resource operations at the Parbatpur Central Coal Block located within the Jharia CBM Block, marking the first instance of such a resource-overlap collaboration in India. ONGC successfully inducts VisiTraK technology in Western Offshore: Successful induction of VisiTraK technology for horizontal well placement in complex gas-cap oil rim mature field of Panna, B&S Asset resulted in significant rig months saving and cost optimization thereof. ONGC received patent for Fracturing Fluid Formulations: Well Stimulation Services, Ahmedabad was awarded patent for developing New Gen Fracturing Fluid Formulation using Effluent water.US Patent awarded to ONGC for Indigenous Drilling Solution: The Institute of Drilling Technology (IDT) has been bestowed with a U.S. Patent certificate for developing ThixoLite - a lightweight, non-cementitious composition used to control mud loss during drilling.