India ONGC infrastructure expansion

On 30 July 2026, state‑owned Oil and Natural Gas Corporation (ONGC) awarded a contract to Garden Reach Shipbuilders & Engineers (GRSE) for four 80‑metre hybrid platform supply vessels. The vessels, equipped with electric azimuth thrusters and lithium‑ion battery storage, are intended to improve fuel efficiency, dynamic positioning and environmental performance for offshore exploration and production.

The next day ONGC announced two further initiatives. It said it expects to sign agreements with Venezuela to operate two oil blocks under the country’s new hydrocarbon law, expanding its upstream portfolio beyond its existing stakes in the San Cristobal field and Carabobo‑1 project. Simultaneously, ONGC disclosed plans to build a new oil storage facility at Mangaluru on the Arabian Sea, with a capacity of about 13 million barrels – half earmarked for strategic petroleum reserves and half for commercial use – to bolster energy security after recent supply disruptions.

Together, the contracts illustrate ONGC’s broad push to strengthen both offshore support capabilities and upstream resource access, while enhancing strategic storage to safeguard India’s petroleum supply.