ONGC urged to use AI, data analytics in oil exploration drive

  • IANS
  • Stock Market News
ONGC urged to use AI, data analytics in oil exploration drive
Credit: © Reuters.

New Delhi, Feb 19 (IANS) Minister for Petroleum & Natural Gas Hardeep Singh Puri on Monday urged upstream oil giant ONGC (NS: ONGC ) to spearhead the country’s oil exploration efforts with the adoption of cutting-edge technologies like AI and Data Analytics for sustainability and reduced environmental impact.

Addressing the golden jubilee celebrations of the Mumbai High oil discovery, the minister expressed satisfaction with ONGC's efforts in bringing new discoveries into production, signaling a strategic path for further advancements to bolster the nation’s growth.

Encouraging ONGC to lead exploration in the sedimentary basins, the minister stressed the importance of blending experience with fresh perspectives to enhance production and rejuvenate plans.

He commended the new ISPHEM facility in Goa, acknowledged as a world-class establishment ensuring safety in the E&P industry, with recognition from the Prime Minister.

In his welcome address, ONGC Chairman Arun Kumar Singh said the national oil giant was intensifying production plans and making significant investments for exploration while expressing hope for discovering a new field akin to Mumbai High soon.

The Chairman also reiterated ONGC's commitment to exhaustively explore every opportunity within Mumbai High until every last drop of oil is recovered, underscoring the company's dedication to maximising resource utilisation.

ONGC commemorated the occasion by honoring past leaders and young achievers contributing to Mumbai High's development. Additionally, a short film titled "ONGC Promise" depicted the company's journey, past, present, and future, through the perspective of a veteran ONGCian portrayed by actor Paresh Rawal.

--IANS

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