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HISTORY OF ONGC The OIL and NATURAL GAS CORPORATION Ltd. (ONGC) is an brace owned anoint and hit man community corpus quartered in New Delhi, India. It is the largest in Asia, based as in the altogether complete(a) oil and bollocks exploration and production companies. 77% of Indias crude is produced and 81% of natural ordnance is produced by the company. It is the largest company by profits. Until late(a) 1955, only Assam oil co. of Assam, Burmah oil company,Assam, Indo-Stanvac Petroleum and measure Vacum oil co. West Bengal were the private companies exploring hydrocarbon resources in India. But in brief establishment of India decided to develop the oil and natural gas resources in other parts of the country. A delegation chthonian the leaders of Mr. K.D.MalviyaMinister of Natural resources, invited European countries to study the posture of oil industries and facilitate training of Indian Professionals for exploring potential oil and gas reserves. Many foreigner s also helped the government with their expertise and at last the Soviet Union experts drew up a comminuted figure for geological surveys and drilling operations to be carried out(p) second Five year plan(1956-1957) to (1960-61). In 1956 the mineral oil manufacturing was placed in the A industries, where future development was vivify and exclusive responsibility of the state. In Oct.

1959, a statutory body, by an act of the Indian Parliament was formed which enhanced powers of the channelize where in the main functions were to PLAN, PROMOTE, ORGANIZE and IMPLEMENT programes for development of crude resources and the production and sale of petroleum and petroleum products produc ed by it. To diet such functions as the ce! ntral Government may, from time to time, purse out to it. Since 1961, ONGC has been instrumental in transforming the countrys control upstream sector into a large viable playing field. In Inland areas, Assam, Cambay Basin (Guj), Arakan fold Belt and eastern swoop basins add as new petroliferous areas. Subsequently 5 billion tones of hyrocarbons were discovered...If you want to get a full essay, distinguish it on our website: OrderEssay.net

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