ONGC - Significant Progress in Blowout Operations at Well Mori#5

Oil and Natural Gas Corporation Limited (ONGC) continues to undertake focused blowout control at Well Mori#5, operated by PEC contractor M/s Deep Industries.

The Crisis Management Team is progressing with operations in accordance with the approved blowout control plan. Fire intensity, noise levels, and ambient heat in the vicinity of the well have reduced significantly. An approach road from the rear end of the wellsite has been completed to facilitate debris clearance, and the required logistics have been mobilised for systematic debris removal.

A water blanket has been established at the wellsite to support continued debris removal in the vicinity of the wellhead and to enable subsequent operations for capping the wellhead, as per the action plan.

In view of the steady progress achieved and the remote likelihood of escalation, the district administration has advised residents in the surrounding areas to resume their normal activities.

The safety of the community and protection of the environment remain ONGC's highest priorities, and all actions are being carried out in strict compliance with regulatory requirements and established industry best practices.

Shares of Oil & Natural Gas Corporation Limited was last trading in BSE at Rs. 239.15 as compared to the previous close of Rs. 241.90. The total number of shares traded during the day was 346579 in over 6916 trades.

The stock hit an intraday high of Rs. 241.65 and intraday low of 238.25. The net turnover during the day was Rs. 83252985.00.

Source : Equity Bulls

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