Fact Check: "In FY24, ONGC drilled 541 wells, the highest number in the past 34 years, including 103 exploratory wells and 438 development wells."
What We Know
The Oil and Natural Gas Corporation Limited (ONGC) reported that in the fiscal year 2024 (FY24), it drilled a total of 541 wells, which is indeed the highest number recorded in over 34 years. This total includes 103 exploratory wells and 438 development wells. The announcement was made via ONGC's official social media channels and corroborated by various news sources (source-1, source-4).
Analysis
The claim that ONGC drilled 541 wells in FY24, marking a record for the company, is supported by multiple credible sources. The data provided by ONGC itself in its earnings reports and social media posts confirms these figures (source-2, source-5). Additionally, the information has been reported by reputable news outlets, such as ANI and ET Auto, which adds to the reliability of the claim (source-1, source-4).
The context of this achievement is significant as it reflects ONGC's strategic focus on enhancing its drilling capabilities and expanding its resource base, which is crucial for India's energy security. The company’s commitment to drilling operations is further emphasized by its investment in capital expenditure, which reached around INR 37,000 crore in FY24 (source-3).
Conclusion
Verdict: True
The claim that ONGC drilled 541 wells in FY24, including 103 exploratory wells and 438 development wells, is accurate. This information is well-documented and corroborated by multiple reliable sources, including ONGC's own announcements and reputable news articles. The achievement not only marks a significant milestone for ONGC but also highlights its role in bolstering India's energy infrastructure.
Sources
- ONGC sets record in fiscal year 2024 with highest number of wells ... ThePrint
- ONGC declares results for FY'24; posts highest ever standalone net ... NSE India
- ONGC FY24 Results: Record Profits & Dividends - Angel One Angel One
- ONGC declares highest ever standalone profit in FY24 - ET Auto ET Auto
- Oil and Natural Gas Corporation Limited Q4 FY 24 Earnings ... - ONGC ONGC
- ONGC shares up 2% post Q4 results - Fortune India Fortune India
- ONGC Q4 results: Net profit rises 78% to Rs 11,526 cr, dividend ... Business Standard
- Oil and Natural Gas Corporation Limited (ONGC) - X X
