Oil and Natural Gas Corporation (ONGC) shares traded lower on Monday, declining 0.25 per cent to ₹251.27 despite the company reporting significant progress in well control operations at its RDS#147A site. The stock opened at ₹253.01 and touched a high of ₹255.49 before trading down ₹0.62 from Friday’s close of ₹251.89. at 11.20 am

ONGC announced that its Crisis Management Team (CMT) and specialist teams have successfully relocated approximately 10 trailers of rig materials away from the incident site, working alongside international well control experts from Cudd Pressure Control. The company has cleared most rig materials from the location and is preparing for future capping operations.

Air quality monitoring around the well site shows encouraging results, with no hydrocarbon presence detected within a 30-meter radius of the well. Based on current assessments, ONGC has advised residents within a 500-meter radius that they can safely resume normal activities including cooking and electricity usage.

The company is deploying heavy equipment for the capping process and has begun detailed surveys of the upper section of the ‘rig mast’ to plan removal of tubing at ‘Derrick’. A specialized extra-long boom crane is being arranged for the complex operation.

ONGC continues round-the-clock ‘water blanket’ operations as a safety measure while gas pressure decreases through the pipeline system. The company maintains 24-hour medical facilities and has coordinated with district administration for relief camp arrangements, reinforcing its commitment to affected communities.

Published on June 23, 2025