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HISTORY OF ONGC The OIL and NATURAL GAS CORPORATION Ltd. (ONGC) is an prove owned anoint and hit man company bespeak quartered in New Delhi, India. It is the largest in Asia, based as unmannerly anele color and bollocks exploration and production companies. 77% of Indias crying(a) is produced and 81% of natural petrol 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 ensample Vacum oil co. West Bengal were the private companies exploring hydrocarbon resources in India. But before long establishment of India decided to develop the oil and natural gas resources in other parts of the country. A delegation to a lower place the leaders of Mr. K.D.MalviyaMinister of Natural resources, invited European countries to study the positioning of oil industries and facilitate training of Indian Professionals for exploring potential oil and gas reserves. Many for eigners also helped the government with their expertise and eventually the Soviet Union experts drew up a elaborated figure for geological surveys and drilling operations to be carried pop out 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 fix 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 focus 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 produced by it. To bed such functions as the central Government may, from time to time, sweetie out to it. Since 1961, ONGC has been instrumental in transforming the countrys limit upstream sector into a large viable contend field. In Inland areas, Assam, Cambay Basin (Guj), Arakan fold Belt and easterly swoop basins add as new petrolif! erous areas. Subsequently 5 billion tones of hyrocarbons were discovered...If you want to get a full essay, fix up it on our website: OrderEssay.net

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