On behalf of the Board of Directors of your Company, it is my
pleasure to present the 32^nd Annual Report of Oil And Natural
Gas Corporation Limited (ONGC/ the Company) and its Audited
Financial Statements for the year ended 31^st March, 2025
(FY'25), together with the Auditors' Report and Comments on the
Financial Statements by the Comptroller and Auditor General
(CAG) of India.

The 2025 energy landscape brings both volatility and opportunity.
The oil and gas sector showed resilience, with a focus on capital
discipline, technological innovation, and mergers and acquisitions
(M&A) to boost efficiency. The companies are turning uncertainty
into advantage through smart capital use, digital innovation, and
strategic repositioning.

The energy transition is not a threat but a chance to reinvent—
top companies are future-proofing by diversifying and leveraging
strengths. The oil market today is grappling with huge near-term
and long-term uncertainties. In this climate, success hinges on
ambition, execution, and vision. The question isn't if the industry
will transform—but who will lead it. Your Company has been
striving to enhance the value proposition for all stakeholders
while maintaining the momentum of capital spending and
project execution, sustaining production levels, and optimizing
operational costs. By consolidating our efforts and continuing to
grow sustainably, the Company can meet the country's expanding
energy needs while creating value for stakeholders.

State of the Company’s affair

Your Company, along with its group companies, has registered
another year of robust performance and made substantial
progress on most of the priority areas.

Highlights of production during FY'25 are as under:

•    Crude oil production, including share of JV production, was
20.892 Million Metric Tonnes (MMT) during FY'25 against
21.139 MMT during FY'24.

•    Natural gas production, including share of JV production,
was at 20.190 Billion Cubic Metres (BCM) during FY'25
against 20.647 BCM during FY'24.

•    Value Added Products (VAPs) production during FY'25 was
2.596 MMT against 2.519 MMT during FY'24.

Backed by an intensive and continuous exploration programme,
your Company is continuously making efforts to expand its
exploration acreages in Indian sedimentary basins and has
acquired highest OALP acreages in OALP bid round IX.

Your Company has six direct subsidiaries, namely ONGC Videsh
Limited (OVL), Mangalore Refinery and Petrochemicals Limited
(MRPL), Hindustan Petroleum Corporation Limited (HPCL),
Petronet MHB Limited (PMHBL), ONGC Green Limited (OGL) and
ONGC Petro additions Limited (OPaL).

Your Company also has eight Associates/ Joint Ventures, namely,
ONGC Tripura Power Company Limited (OTPC), ONGC TERI

Biotech Limited (OTBL), Dahej SEZ Limited (DSL), Mangalore SEZ

Limited (MSEZL), Indradhanush Gas Grid Limited (IGGL), Pawan

Hans Limited (PHL), Petronet LNG Limited (PLL) and Rohini

Heliport Limited (RHL).

1. Major Highlights of FY’25

i.    Revenue from operations in FY'25 stood at ' 1,378,463
million against ' 1,384,021 million in FY'24.

ii.    Net profit in FY'25 was '356,103 million against '405,260
million during FY'24.

iii.    Your Company has notified 9 new hydrocarbon discoveries
(7 New Prospects & 2 New Pool discoveries) in its operated
acreages including 4 discoveries in OALP blocks, 2
discoveries in NELP and 3 discoveries in nomination blocks.

iv.    During the FY'25 eight hydrocarbon discoveries
(Malleswaram-22, West Matar-2, KGD982NA-M-4, KG-
DWN-98/2-A-2, KG-DWN-98/2-P-1, G-2-2, Thirunagari-1
and Yandapalli-1) including two discoveries notified during
FY'25 were monetized.

v.    ONGC and BP have signed a contract under which BP will
serve as the Technical Services Provider (TSP) to ONGC for
production enhancement in Mumbai High field, - India's
largest and most prolific offshore oil field.

vi.    ONGC, in partnership with Shell (BGEPIL) and Reliance
Industries Ltd. successfully completed the decommissioning
of the Tapti field facilities - country's first offshore facilities
decommissioning. This marks a major milestone as one
of India's largest offshore decommissioning projects,
executed in alignment with global safety, environmental,
and regulatory standards.

vii.    CBM Bokaro Asset commenced commercial sale of CBM
gas from Bokaro GCS on 16^th July 2024 through GAIL's Urja
Ganga pipeline.

viii.    Under digital transformation initiative, Ahmedabad Asset
brought live the 'Urja Utkarsh Kaksh', a state-of-the-art
Digital War Room housing the Digital Dashboard- SANJAI
(Systematic, Analytics, Network of Jointly Managed
Asset Information) encompassing data management,
data visualization and data analytics capabilities. It is
a comprehensive dashboard that facilitates seamless
integration of discrete datasets pertaining to different
domains and provides insightful analytics.

ix.    IDAS (Integrated Digital Analytics System) project completed
in Mumbai High Asset on 30^th October 2024. Under this
project, an intelligent platform has been created for field
monitoring and decision making for optimization of well and
flow-line networks using advanced physics-based model.

x.    Exploratory efforts of your Company in category-I basins
have yielded new hydrocarbon discoveries in Cambay Basin
(PURN-1, Vadatal-37 and West Matar-2), Mumbai Offshore

(Neelmani, Chandramani and Suryamani), KG Onland
(YandapaUi-1) and Cauvery Offshore (Chola-1). These
discoveries reaffirm the untapped potential of established
basins and reinforce the strategic value of sustained
exploration efforts.

xi.    Renewed exploratory efforts in ultradeep waters of Cauvery
Offshore after NELP regime has led to significant hydrocarbon
success in exploratory well Chola-1 (CYUD191H-CH-AA),
drilled in OALP Block CY-UDWHP-2019/1. The achievement
marks a significant milestone and underscores the
hydrocarbon potential of the basin and opens up large area
for further exploration in the ultra-deepwater areas.

xii.    New prospect discovery in well Ranaghat-2 in NELP block
WB-ONN-2005/4 in Bengal Basin, highlights the persistent
exploratory efforts to strengthen the hydrocarbon reserve
base for upgradation of this category-III basin.

xiii.    Accelerated exploratory efforts in the OALP blocks in
various Indian sedimentary basins where your Company
has cumulatively drilled a total of 53 exploratory wells,
which have resulted in 10 hydrocarbon discoveries namely
Amrit, Moonga, Moti, Utkal, Konark, West Amod, Neelmani,
Purnpura, Chola and Suryamani.

xiv.    During the year, your Company has made efforts to explore
the potential of unconventional reservoirs (Basement plays)
through drilling of 12 wells- Six in Cambay Basin, two in
A&AA Basin and four in Western Offshore Basin.

xv.    During the year, a total 107 conventional exploratory wells
(including 33 wells in PELs-30%) and 2 CBM assessment
wells were drilled. Out of 107 exploratory wells, testing of
70 wells was concluded and 13 wells were under testing
and 24 wells to be tested. Out of these, 27 wells proved to
be hydrocarbon bearing. Besides testing of 38 wells drilled
during previous years were concluded out of which 20 wells
proved to be hydrocarbon bearing.

xvi.    Success ratio in exploratory drilling achieved considering
total wells tested/concluded including those of previous
year's wells was 1: 2.3 (43.5%) - (Total 108 wells concluded
out of which 47 wells were proved to be hydrocarbon
bearing).

xvii.    A total of 604 LKM of 2D and 8840 SKM of 3D seismic was
acquired during FY'25. Out of this quantum, a total of 377
LKM 2D and 6141 SKM of 3D seismic data were acquired in
Open Acreage Licensing Policy (OALP) blocks.

xviii.    Your Company made efforts for global outreach for deep &
ultra-deepwater exploration by engaging with global majors
like ExxonMobil, RIL-BP, Total Energies, PEPOV (Petronas),
Petrobras, ENI, etc to explore opportunities for Farm-in
and joint bidding of OALP blocks in risk and cost intensive
frontier areas.

xix.    During FY'25, milestone efforts were made for upgrading
category-II & III basins. Field Development Plan (FDP) of
Hatta field in NELP block VN-ONN-2009/3 in Vindhyan Basin

was approved by DGH- a first for a Proterozoic Basin. FDP
of Asokenagar field in NELP block WB-ONN-2005/4 was
approved by DGH- significant achievement for category-III
basin. PML grant for Asokenagar field has been received
from State govt. of West Bengal - first PML for category-III
basin.

xx.    Fifteen contract areas were awarded to your Company
under OALP Bid Round-IX covering an area of 82,560.26
Sq.Km. These awarded blocks include 3 Onland Blocks, 5
Shallow water blocks and 7 Ultra-deep water blocks spread
across various basins. ONGC successfully bid for a block in
consortium with an International Oil Company (IOC) for the
first time in OALP-IX round.

xxi.    Your Company incurred ' 6,673.10 million on Research &
Development activities in FY'25 against ' 6,866.84 million
during FY'24. These initiatives resulted in improved
operational efficiencies and cost optimization for your
Company.

xxii.    During FY'25, 08 Patents and 06 Copyright were granted to
your Company by the Intellectual Property India, Government
of India.

xxiii.    ONGC registered highest-ever CSR expenditure of ' 9,290.82
Million in FY'25 including CSR expenditure of ' 932.80 Million
in 45 Aspirational Districts.

xxiv.    ONGC has signed MoUs with reputed EPC firms like EIL &
NBCC for taking up major Infrastructure projects on fast-
track OBE basis. These partnerships will result in speedy
implementation of Infrastructure projects like buildings etc.
in a time bound manner, thereby minimising the chances of
delay in implementation.

xxv.    ONGC is working on construction of state-of-the-art
Convention Centre with a seating capacity of around 4800,
with Exhibition Hall of 7800 sqm area and a new Management
Development Facility at Advanced Training Institute, Goa.

xxvi.    The following green Initiatives were undertaken in FY'25, to
capture SCOPE-III emissions:

1)    As a first ever initiative, 65 Nos. of Electric Vehicles
were deployed (23% of total fleet is now electric).

2)    193 Nos. of CNG vehicles were deployed, replacing
Petrol and Diesel Operated Vehicles.

3)    ~90% of the total fleet was EV and CNG fuelled.

xxvii.    Domestic Cruise Terminal (DCT) of Mumbai Port Authority
was operationalized in January 2025, bringing a new era
in crew change operations by Fast Crew Boat, offering
unmatched safety, comfort and efficiency for ONGC &
contract personnel traveling to offshore installations.

2. Global Recognitions

Your Company has been recognized at various national
and international forums, list of Awards and Accolades is
annexed as Annexure - A.

3. Details of discoveries

During the year, your Company has notified nine (9) new hydrocarbon discoveries (five on-land and four offshore) in its operated
acreages.

Details of exploratory efforts made by your Company were as under:

Out of nine new discoveries made during the financial year, two discoveries viz. West Matar-2 and Yandapatti-1 were monetized in
addition to 6 discoveries made during earlier years.

4. Reserve Accretion and Reserve Position

During FY'25, accreted 38.19 MMTOE of 1P reserves from ONGC operated areas in India. Reserve Replacement Ratio (RRR) from
domestic fields was 1.01 with respect to 1P reserves. The 1P reserves position established as on 1^st April 2025 by ONGC in its
operated areas and in Non-Operated (JV Share) is as follows:

¹#PRMS: Petroleum Resource Management System. ONGC adopted PRMS w.e.f. 1 April 2019.

5.    Award of Blocks/New Acreages taken for Exploration

15 OALP Bocks covering total area of 82,560.26 Sq.km. were awarded to your Company under OALP bid round-IX. All the awarded
OALP blocks are in exploratory phase.

As on 1^st April 2025, a total of 4,754.92 LKM of 2D seismic data and 32,204.11 SKM of 3D seismic data has been acquired and 53
exploratory wells have been drilled in OALP Blocks.

With these exploratory efforts, ONGC has notified 10 hydrocarbon discoveries including Amrit, Moonga, Moti, Neelmani & Suryamani
in Mumbai Offshore (SW), Utkal & Konark in Mahanadi Offshore (DW), Chola in Cauvery Offshore (UDW) and West Amod & Purnpura
in Cambay Onland.

6.    EOR Proposals

Your Company has been consistently expanding its Enhanced Oil Recovery (EOR) portfolio. Under the Enhanced Recovery (ER)
policy, fields of ONGC located in onshore and offshore areas were considered for screening. 33 ER Pilot/Preliminary Screening
reports for Oil Fields had been submitted to the Directorate General Hydrocarbons (DGH) up to March 31, 2025. Out of which 17

ER Pilots have been approved (Phase-I), 3 schemes were not
approved, 11 schemes are Under Approval (Phase-II) and 2
schemes have been notified to DGH.

7. Major Projects Completed

During the FY'25 following 6 major projects with an
investment value of around ' 89,741.79 Million were
completed:

•    Total Project cost. ONGC PI: 80%

8.    CAPEX

During the year, total capital expenditure of your Company
including its subsidiaries was ' 833,953 Million (comprising
ONGC - ' 620,573 Million, HPCL - ' 145,080 Million, OVL -
' 52,373 Million , MRPL - ' 11,562 Million, PMHBL-
' 87 Million and OPaL-' 4,278 Million).

9.    Drilling of Wells

•    Your Company drilled 578 wells during FY'25 against
544 wells drilled during FY'24. 109 of these wells were
exploratory wells, while the remaining 469 wells were
development wells including side-track wells. The
major highlights of Drilling operations during the year
were as under:

•    The overall exploratory and development cycle speed
witnessed the attainment of the highest-ever cycle
speed, reaching ~1115 M/RM, reflecting efficiency and
operational excellence.

•    In the deep-water campaign, 03 new discoveries were
made during FY'25 with following details:

1.    Rig DDKG-1 in Cauvery offshore at well CHOLA;

2.    (Suryamani) by Rig Sagar Bhushan in WOB at well
MBS202HAA#A; and

3.    New pool discovery in Mukta formation by Rig
Sagar Bhushan in WOB at well MBS202HAA#A

•    Ultra-deep-water drilling campaign has been started in
the Andaman basin at a water depth of 1870 metre in
well ANEE

•    Rig Sagar Bhushan has become the first ONGC owned
vessel to comply with MODU 1989 code.

Well Services:

•    Well services (WS) achieved the feat of servicing highest
ever wells in a financial year through work over jobs
(2,337 jobs) as against 2,110 Work Over Jobs (in FY'24)
and at the same time it has achieved the highest ever
work over efficiency (annual Work over Index of 30.24)
for FY'25.

•    Well services carried out 12,515 well stimulation jobs in
FY'25.

•    Well Services Mumbai achieved 2 MMSCMD gas gain
by carrying out massive Sand Control campaign in
Tapti- Daman Field which includes 10 jobs comprising
of Frac-packs, High Rate water packs and Open Hole
Gravel packs.

•    Successfully established the new discoveries through
testing of following

1.    Neelmani : Gas 170119 m3/day thru 1/2 inch choke at
FTHP 1245 PSI)

2.    Chola : Gas 305385 m3/day , Condensate -117 BPD
thru 1/2inch choke at FTHP -1626 PSI

3.    Suryamani :    Oil-2626 BOPD , Gas 50,565 m3/day

through 36/64 inch choke at FTHP 1180 PSI.

4.    Ranaghat#2: Gas @ 1.50 lakhs M3/day & Condensate
@ 8.4 M3/day, thru 8mm bean @FTHP : 2600psi SCHP
: 2700 psi.

•    WS Eastern Offshore Asset (EOA), Commissioned Top
Side & Subsea Production (SPS) Control System at
FPSO and Oil wells of A-field & P-field were put on
production w.e.f. 16^th December 2024. Complete Oil
System commissioned & all 13 Oil wells flowing.

•    WS Mumbai executed Acid Fracs with PLA diverters for
the first time in Mumbai High asset in 3 wells WO16A#9,
3Z and 8X, results in incremental cumulative production
gain from these 3 wells to around 4500 BOPD.

10. Oil, Gas & VAP Production

Details of production and sates quantity product wise during FY'25 (inclusive of JV Share) in comparison of FY'24 were as under:

11.    Production from Overseas Assets - ONGC Videsh
Ltd.

Your Company's overseas E&P operations are carried out
through its wholly owned subsidiary, ONGC Videsh Limited
(OVL), which conducts its operations either directly or
through its subsidiaries. Production from the overseas
assets during FY'25 was 10.278 MMTOE in comparison to
10.518 MMTOE during FY'24. Oil production during FY'25
increased to 7.265 MMT as compared to 7.178 MMT during
FY'24 and Gas production during FY'25 was 3.013 BCM as
compared to FY'24 production of 3.34 BCM. The moderate
decline in gas production, due to end of field life of producing
fields of Block 06.1 Vietnam, was partly offset by increase in
oil production despite the geopolitical constraints in Russia
and Venezuela. Operated/Jointly Operated assets of MECL
& CPO-5, Colombia and GPOC & SPOC, South Sudan have
significantly contributed to total oil production, contributing
a YoY 16% increase and a jump of 38% in oil production from
operated/jointly operated assets in last 3 years.

12.    Other Exploration Initiatives/Activities

a.    Extended Continental Shelf (ECS) Project: MoP&NG/
DGH has entrusted ONGC to carry out 15,500 LKM
of offshore 2D seismic data Acquisition, Processing
& Interpretation (API) in Extended Continental
Shelf (ECS) of India. Data acquisition work has been
completed recently in March 2025, further activities for
processing of acquired seismic data are in progress.

b.    Mission Anveshan: Under Govt. of India funded Mission
Anveshan project, ONGC is entrusted for conducting
the closed grid 2D seismic API for 10,875 LKM for
comprehensive appraisal of Indian sedimentary basins
in onland sector. The seismic data API is to be carried
out in Chhattisgarh, Cuddapah, Krishna-Godavari,
Deccan-Syneclise and Saurashtra Basins during
FY'25 & FY'26. The data acquisition work is in progress.

c.    Basement Exploration:

As a part of concerted exploration efforts for
Basement Play, a total of 12 wells having basement
as an objective were drilled, this includes Mansa-52,
Ankleshwar-386, Padra-243, Padra-248, Padra-250
and Padra-252 in Cambay Basin, Kasomarigaon-12
& Khoraghat-50 in Assam Shelf and GSS191HAA-1,
SD-17, BH-93 & BH-94 in Western Offshore. While
testing of Basement section, well Padra-252 gave
influx of oil and Padra-250, Padra-253 & BH-93 gave
oil indications while Padra-248, Ankleshwar-386 &
Kasomarigaon-12 flowed water and SD-17 gave no
influx. In well Mansa-52, Khoraghat-50, GSS191HAA-1
& BH-94 basement objective was not tested.

d.    HP-HT Exploration:

High pressure- High Temperature (HP-HT) and
Tight reservoirs have been an exploration and

development challenge for your Company. Your
Company is striving hard in the field of HP-HT due
to bore hole complications, fluid design, high-cost
drilling technology including HP-HT cementing,
well construction and other reservoir engineering
issues. In ONGC operated areas, HP-HT regime is
encountered in areas like Periyakudi, Bhuvanagiri in
Cauvery Onland, Kottalanka, Nagyalanka, Bantumilli
South and Malleswaram in KG Onland. Yanam in KG
Shallow offshore, G-4-6, D-33 and GS-OSN-2004/1
in Western Offshore were also classified as HP-HT
reservoirs. Additionally, high pressure regime is often
encountered in certain areas of Assam Arakan Fold
Belt.

13. Exploration and Production from Unconventional
Sources

a)    Coal Bed Methane (CBM):

Your Company was awarded 9 blocks in CBM bidding
rounds including nomination, out of which it has
relinquished 5 blocks on the basis of data generated
from exploratory efforts and has been operating 4 blocks
(Jharia, Bokaro and North Karanpura in Jharkhand and
Raniganj in West Bengal) where exploration activities
have been completed. Developmental activities are at
an advanced stage in three of these blocks viz. Bokaro,
Jharia and North Karanpura. Commercial gas sale
commenced from Bokaro GCS in Bokaro block through
GAIL's Urja Ganga pipeline on 16^th July 2024. Also, gas
sale from North Karanpura block started on 16^th May
2025 by adopting 'Gas ready for cascades' model.

In the Special CBM Bid Round 2021, ONGC has been
awarded two CBM Blocks i.e. BP-ONHP(CBM)-2021/2
in Rajmahal Coalfield of Jharkhand and SR-ONHP
(CBM)-2021/5 in Sohagpur Coalfield of Madhya
Pradesh. Statutory approvals for exploration in the
Sohagpur block have been obtained. These blocks are
in Phase-I of exploration stage.

During FY'25, two CBM Assessment wells RNAE_CBM
and RNAF_CBM were drilled in Raniganj North CBM
block with the objective to assess Barakar Coal Seams

i.e. B-I to B-VIII. Both of the wells are to be hydro¬
fractured prior to completion.

b)    Gas Hydrate Exploration Program

Your Company has been an active contributor to gas
hydrate exploratory research under the National Gas
Hydrate Program (NGHP) of Government of India.
ONGC has played a significant role in G&G studies for
the identification of sites for NGHP-01 and NGHP-02.

During FY'25, for the first time prospective Bottom
Simulating Reflectors (BSR) bearing areas spanning
an area of 507 SKM have been identified in the back
arc area of Andaman Deep water basin. Gas hydrate

division successfully used its laser diffraction particle
size analyser, a new technology for (i.e., Tornado
technology) for the differentiation of Formation sand
and proppant) in CBM wells for CBM Asset, ONGC.

c) Geothermal Energy

A comprehensive report on potential of Manuguru
Geothermal field in Godavari Graben, Telangana,
under the ambit of tripartite MoU between ONGC-
Singareni Collieries Company Limited- Telangana
Renewable Energy Development Corporation Ltd., has
been submitted. The report highlights four geothermal
high prospect zones which can be targeted for further
exploration and subsequent development activities.
Field reconnaissance survey and geo-chemical
surveys in Tatapani area, Chattisgarh have recently
been concluded. Processing of data is under progress
in the Company.

14. Drilling Services

The Institute of Drilling Technology (IDT), Dehradun,
continued to strengthen ONGC's position as a leader in
drilling innovation and digital transformation during the
year. Noteworthy milestones include the inauguration of
cutting-edge infrastructure, successful technology pilots,
and strategic digital upgrades aimed at enhancing well
planning, training, and operational performance.

1. Launch of DrillSim 6000 and Digital Well Program
(DWP)

On 13^th November 2024, IDT marked a landmark
achievement with the inauguration of the Full-Scale
Drilling Simulator - DrillSim 6000 and the official
rollout of the Digital Well Program (DWP).

•    The DrillSim 6000 is a state-of-the-art fixed-type
simulator with twin cyber chair controls, OEM-replica
HMI interfaces, immersive 3D visual environments,

and full downhole simulation. It enables comprehensive
training on real-world drilling complications including
stuck pipe, well control, jarring, lost circulation, and
fishing operations. The simulator replicates operations
of ONGC's DrillMech rig, generic Jack-Up, and floater
rigs—significantly enhancing field readiness.

•    The Digital Well Program (DWP) is a transformative
initiative that digitizes and streamlines the entire
well planning lifecycle. It addresses inefficiencies in
the existing process through a unified platform that
supports:

o Single-point data entry
o Automation of repetitive and manual tasks
o Real-time engineering validations
o Standardized, cross-functional well programs

rigs, Cementing units, Crisis Management equipment
in phases. Major Infrastructure Up-gradations during
the year were as under:

•    Twenty seven (27) drilling rigs are being replaced by
new generation hi-tech rigs in phased manner. Till
FY'25, a total 15 new generation hi-tech drilling were
commissioned.

•    Till end of FY'25, 09 workover Rigs out of 20 Automated
Hydraulic Workover rigs were commissioned.

16. Information Technology

Moving towards digitalization using emerging technologies
by creating digital oilfield and operational activities your
Company has carried out several Business Process
improvements in the field of IT for enhancing the IT
infrastructure and ensuring robust support for various
applications and services. Major Process improvements
were as follows:

1.    Network & Infrastructure Modernization

•    SDWAN rollout across 30+ ONGC locations for better
network uptime and fallback. The effort ensured high
network availability and seamless fallback capabilities.
The project will provide improved uptime for core
business applications and reduced dependency on
legacy infrastructure.

•    High capacity 300 Mbps terrestrial microwave
connectivity has been extended to the Assam and
Jorhat Assets, using an unlicensed band to ensure
uninterrupted 24/7 connectivity. Additionally, a captive
Broadband Wireless Access Communication network in
the unlicensed band is being deployed in the Southern
Region, covering the Cauvery and Rajahmundry Assets,
to enhance high-speed field communication. This will
facilitate a robust communication infrastructure and
support ongoing and upcoming digital initiatives.

•    Hired services for on-premises provisioning of Data
Centre services including servers, storage, network,
backup, DR Replication and on-site FMS support for
07 years at primary and Disaster Recovery (DR) sites of
Infocom Data Centres on an OPEX mode which ensure
not only optimum utilisation of infrastructure but also
ensures faster scaleup for deployment of any new
digital initiatives.

•    Upgraded the existing 60 KVA UPS to a 120 KVA capacity
UPS with Lithium-Ion batteries and an in-built BMS
and health monitor, which is in the advanced stage of
installation at the Corporate Data Centre.

2.    Automation & Reporting

•    Automated 20+ key business processes using IBM
RPA (e.g., SAP reports, production, audit, etc.). The
automation led to significant time savings, accuracy
improvement, and reduced manual workload for

various departments, especially in finance and
production monitoring.

•    Ongoing SAP-based automation was carried out
for reports such as MB51 Diesel, VIMS Invoices,
Sectorial Consumption, and Drilled Wells Production.
Each report automation required understanding of
underlying SAP transactions, data structure, and
scheduled script deployment. These efforts enhanced
reporting efficiency and ensured timely availability of
critical business data.

•    O-365, Co-pilot and Power-BI deployed for improved
office automation and visualisation of key performance
indicators. These tools have streamlined processes
and provided better insights leading to more informed
decision making and improved productivity.

3.    Digital Portals & Applications

•    Launched the ProcMIS Portal to consolidate
procurement data from SAP, DISHA, GePNIC, and
GeM. This has enabled real-time tracking of tendering
activities and case monitoring across NTA and CPD,
improving procurement visibility and audit-readiness.

•    Multiple digital portals were created including those
for Fire Services, Recruitment (OGL & Digital Head),
Board Management, and DMS for Director(S&CA).
These required workflow customization, stakeholder
feedback, and iterative testing. The outcome was
streamlined internal communication, improved
governance, and reduced turnaround time in
administrative tasks.

4.    AI & Analytics Initiatives

•    The AI transformation roadmap was established with
the formation of an AI task force, the initiation of an
upskilling journey, and collaboration with C-DAC for
HPC services. Additionally, GPU-based servers were
deployed to develop AI/ML and GenAI applications and
other analytics use cases in various business domains.

•    Integrated machine/SCADA/PLC data into analytics
pipelines and OSI PI dashboards to support real¬
time reporting, alerts and monitoring thereof. OSI-
PI platform is also being used for provisioning data
through API for developing for third party analytic
application namely gas balancing, gas detection, etc.

•    Middleware services, JWT authentication, and token
systems were designed to support these dashboards.
These tools empowered management with live
insights, faster decisions, and increased transparency
in key operational areas.

5.    Process & Governance Enhancements

•    The master data management project has significantly
enhanced enterprise data quality, leading to better
decision-making and improved visualization on
management dashboards and analytics.

•    The modernization of the Health Information system
has transformed it into a centralized, managed system
for healthcare services, significantly enhancing health
care services. This system includes modules for OPD,
diagnostics, inventory, and immunization, and has
been implemented pan ONGC.

•    The development of custom DISHA processes,
including modules for Reserve Price Fixation, Vendor
Banning, and the Technology Induction Board, has
led to significant improvements. Integrations with
SAP for procurement and tendering workflows have
enhanced transparency, expedited decision-making,
and improved alignment with audit and compliance
requirements.

6. Information Security/ Cyber Security

•    In the present era where cyber threats are constantly
evolving in sophistication and frequency, ONGC's state-
of-art Information Security Operations Centre (ISOC) is
operationalized 24X7 for safeguarding its digital assets,
customer data, and intellectual property against
cyber-attacks from adversaries. Threat Intelligence
from several agencies - both Govt. of India & private
are received and analysed in real-time with automation
to respond in the fastest way. On an average, more than
2.1 billion events are handled every day.

•    ONGC has implemented Information Security
management Systems (ISMS) in accordance with ISO
27001 international information security standard in its
41 Data Centres. All these Data Centres are ISO 27001
certified where periodic internal and external audits
are carried out for sustenance of ISMS and ISO 27001
certification.

•    ONGC has been working consistently towards
strengthening the weakest link in the Cyber security
chain - the humans i.e. its employees. Towards this
objective, the following focussed actions have been
taken in the last year:

5 2 days cyber security awareness outreach
workshops have been conducted at the Work
Centres of ONGC to educate and empower the
employees against the growing threat of cyber¬
attacks.

5 Regular phishing campaigns were conducted
to raise employee awareness enabling them to
identify suspicious emails, SMS messages, and QR
codes, and to enhance their readiness against real-
world phishing and smishing attacks. Employees
who fell prey to this campaign were subjected
to a self-learning course with an assessment at
the end.

5 A session on topical issues related to cyber-security
is conducted on the first Wednesday of every month
under the Cyber Jaagrookta Diwas initiative.

5 Employees are regularly sensitised on the cyber
hygiene and other cyber security aspects through
text message every Wednesday throughout the
year.

5 Cyber Security Awareness Month (CSAM) was
celebrated in October month bringing in special
focus on Cyber Security through quizzes, webcasts
etc.

17. Fiancial Highlights:

Your Company earned Profit After Tax (PAT) of ' 356,103

Million in FY'25 as against PAT of ' 405,260 Million in FY'24

i.e. a decline of ' 49,157 Million (12.13%) and registered

Revenue from Operations of '1,378,463 Million in FY'25

down by 0.4% over FY'24 ('1,384,021 Million).

Highlights - Standalone Financial Statements

•    Revenue from Operations : ' 1,378,463 Million

•    Profit After Tax    :    ' 356,103 Million

•    Contribution to Exchequer    :    ' 590,456 Million

•    Return on Capital Employed    :    ' 26.54%

•    Debt-Equity Ratio    :    ' 0.03:1

•    Earnings/ Share    :    ' 28.31

•    Book Value/ Share    :    ' 251

18.    Change in Share Capital:

During the year under review, there is no change in capital
structure of the Company.

19.    Dividend

Your Company has paid interim dividend of '6 per share of
'5 each (@120%) in November 2024 amounting to '75,482
million and '5.00 per share of '5 each (@100%) in January
2025 amounting to '62,901 million. The Board of Directors
has recommended final dividend of ' 1.25 per share of
'5 each (@25%) amounting to '15,725 million subject to

approval of shareholders. The total dividend pay-out for
FY'25 would be '154,108 million with pay-out ratio of 43.27%.

The Dividend Distribution policy may be accessed at the web
link: https://ongcindia.com/fi/web/eng/investors/policies.

20. Financial Accounting and Secretarial Standards

The Financial Statements of the Company for FY'25 have
been prepared in compliance with the applicable provisions
of the Companies Act, 2013 including Indian Accounting
Standards (Ind AS) and Guidance Note on Accounting for
Oil and Gas Producing Activities issued by the Institute of
Chartered Accountants of India.

Secretarial Standards:

The Company has complied with the applicable Secretarial
Standards issued by the Institute of Company Secretaries
of India.

21.    Loans, Guarantees or Investments

Your Company is engaged in Exploration & Production
(E&P) business which is covered under the exemption
provided under Section 186(11) of the Companies Act, 2013.
Accordingly, the details of loans given, investments made or
guarantee or security given by the Company to subsidiaries
and associates were not reported.

22.    Deposits:

Your Company has not accepted any deposit during the year.
Further, there was no outstanding deposit and/or unpaid or
unclaimed principal amount or interest against any deposit
either at the beginning or at the end of FY'25.

23.    Credit Rating of Securities:

Details of the Credit Ratings of Debt Securities of the
Company as on 31^st March 2025:

24.    Investor Education and Protection Fund (IEPF)

Details of transfer of unclaimed dividends and eligible shares
to IEPF have been placed in the Corporate Governance
Report, which forms part of the Annual Report.

25.    Related Party Transaction

There was no Related Party Transaction which needs to be
reported in the form of AOC-2, in terms of Section 134(3)(h)
read with Section 188 of the Company Act, 2013.

26.    Direct Subsidiaries:

A. ONGC Videsh Limited

ONGC Videsh Ltd, the wholly owned subsidiary of your
Company for carrying out E&P activities outside India,
has participation in 32 oil and gas projects spread across
15 countries. ONGC Videsh portfolio comprises of 14
producing, 4 discovered/ under development, 11 exploration
and 3 pipeline projects. The company operates 16 of these
projects by itself or in collaboration with JV partners. ONGC
Videsh also has 3 subsidiaries in global business hubs i.e.,
Amsterdam (Netherlands), Singapore and Houston (USA)
for asset holding, commercial and technical activities in
addition to a wholly Owned subsidiary in GIFT City, Gujarat,
India which functions as Global Treasury Centre for ONGC
Videsh.

Gross consolidated revenue of ONGC Videsh for FY'25 was
' 129,946 million (against ' 131,972 million during FY'24)

and the Profit After Tax (PAT) was ' 4,177 million during

FY'25 as against ' 4,900 million (restated) during FY'24.

Significant events in the area of Exploration & Operations:

• Increased Operated barrels:

5 CPO-5, Colombia: Production in operated CPO-5
Project registered a 25% YoY increase from 19 KBOPD
in FY'24 to 25 KBOPD in FY'25.

5 MECL, Colombia: Strategic well interventions in the
mature Joint Operated Velasquez field (80+ years, ~85%
water cut), including targeted infill drilling, workovers,
and rig-less optimizations, resulted in a significant
30%+ increase in annual average production from
3,201 BOPD in FY'24 to 4,148 BOPD in FY'25. The field
further recorded the highest ever production (since
acquisition) of ~4,600 BOPD in March 2025.

5 GPOC, South Sudan: Despite regional geopolitical
issues and persistent flood at many surface
installations and well sites, this Joint Operated Project
registered an 8% YoY increase in oil production from
~46,450 BOPD (FY'24) to ~50,400 BOPD (FY'25).

5 SPOC, South Sudan: Production in this Joint Operated
Project also surged over 90% YoY basis from 5,848
BOPD in FY'24 to 11,327 BOPD in FY'25, the highest
daily average since production resumption in South
Sudan.

•    Exploration Success story:

5 GPOC, South Sudan: First ever exploration well in
GPOC, South Sudan was drilled and commissioned
in the Independent South Sudan in FY'25 with the
well currently producing at a rate of ~670 BOPD.
This Exploration success in the project validates the
hydrocarbon potential of the region resulting to secure
a crucial 5-year extension of the exploration licence,
now valid until 25^th February 2030.

5 SPOC, South Sudan: ONGC Videsh's exploration efforts
in this project were also recognised with a three-year
extension of the exploration license, now valid until
8^th December 2027.

5 CPO-5, Colombia: ONGC Videsh successfully drilled
three more exploratory wells during FY'25 in this
block. These drilling campaigns led to a significant
breakthrough: the discovery of a new play, LS-3, within
the La Urraca evaluation area.

•    Growth Through Strategic Acquisitions and New Ventures:

ONGC Videsh continued its strategic growth trajectory
in FY'25 through key acquisitions and a significant
diversification into new ventures, reinforcing its global
footprint and future potential.

5 Expanding Presence in Azerbaijan: In November 2024,
ONGC Videsh successfully completed the acquisition of
an additional 0.615% PI in the producing Azeri, Chirag,
and Gunashli (ACG) field, alongside a 0.737% stake
in the Baku-Tbilisi-Ceyhan (BTC) Pipeline Company
in Azerbaijan. Building on this, in September 2024, it
signed an Addendum to the existing ACG Production
Sharing Agreement (PSA). This addendum enables it to
explore and produce from the Non-Associated Natural
Gas (NAG) reservoirs of the ACG field until the PSA's
expiry in 2049, unlocking significant new value from an
already valuable asset.

5 Venturing into Critical Minerals: ONGC Videsh has
also ventured into the critical mineral space in FY'25
by entering into a MoU with UAE-based International
Resources Holding RSC Ltd. (IRH) along with Oil India
Limited (OIL) and Khanij Bidesh India Ltd. (KABIL). This
collaboration marks the strategic aligning with future
energy demands and diversification efforts.

B. Hindustan Petroleum Corporation Limited (HPCL)

Your Company holds 54.90% equity shares in HPCL as on
31^st March 2025 and HPCL is a Schedule 'A', Maharatna,
and listed entity with Pan India presence. HPCL owns and
operates 2 major refineries - one at Mumbai (9.5 million
metric tonnes per annum - MMTPA) and the other one at
Visakhapatnam (15 MMTPA). It also owns and operates the
largest Lube Refinery in the country with a capacity of 428
TMT (thousand metric tonne). HPCL has a vast marketing

network of Supply & Distribution infrastructure comprising
of Terminals, Installations, Tap-off Points, LPG Bottling
Plants, Aviation Service Facilities, Lube Blending plants,
Lube depots and various customer touchpoints across the
country. HPCL has its Research & Development Centre
named 'HP Green R&D Centre' in Bengaluru.

During FY'25, HPCL refineries at Mumbai and
Visakhapatnam achieved combined refining thruput of 25.27
MMT registering an increase of 13.2% over crude thruput
of 22.33 MMT processed during FY'24. Visakh Refinery was
able to realise the full volume potential post the expansion
and processed over 15 MMT of crude oil. Similarly, Mumbai
Refinery processed almost 10 MMT crude oil in an all-time
high. HPCL achieved the highest-ever total sales volume of
49.82 MMT (including exports) during FY'25 registering a
growth of 6.4% as compared to previous year's sales of 46.82
MMT. This corresponds to a domestic market sales growth
of 5.5%, and HPCL has significantly outperformed the
industry average growth rate of 4.2%. HPCL also recorded
the highest-ever pipeline thruput of 26.90 MMT during FY
2024-25 with a growth of 9.6% over 25.83 MMT pipeline
thruput achieved during previous year.

During the year, HPCL crossed a key milestone of 23,000+
Retail Outlets with commissioning of 1725 Retail outlets
during FY'25 taking the total Retail Outlets to 23,747 as of
31^st March 2025. During this period, 29 new LPG
distributorships were added taking the total LPG
distributorships to 6,378 as of 31^st March 2025. In a significant
step, HPCL commenced operations at LNG Regassification
Terminal at Chhara, Gujarat.

The Average GRM (Gross of export duty) for the FY'25 was
US$ 5.74 per barrel (US$ 9.08 per barrel during the previous
financial year). The reduction in GRM is in line with the trend
of international product cracks.

During FY'25, HPCL recorded standalone Profit after tax of
' 73,649 million as compared to Profit after tax of ' 146,938
million for the previous year. Revenue from operations for
the FY'25 was ' 4,663,457 million as compared to ' 4,616,375
million during the previous year.

C. Mangalore Refinery and Petrochemicals Limited (MRPL)

Your Company holds 71.63 % equity shares in MRPL, a
Schedule 'A' Mini Ratna company and listed entity, which is
a single location 15 MMTPA Refinery. Further, HPCL, also
holds 16.95% equity shares in MRPL.

MRPL's refinery is established with a versatile design with
complex secondary processing units and a high flexibility
to process Crudes of various API, delivering a variety of
quality products. MRPL also operates an Aromatic Complex,
a petrochemical unit capable of producing 0.905 MMTPA of
Para Xylene and 0.273 MMTPA of Benzene. The Aromatic
Complex is situated in the Mangalore Special Economic
Zone (MSEZ) and is fully integrated with MRPL.

MRPL achieved the highest ever throughput of 18.044 MMT
for the FY'25, operating at 120% of the installed capacity as
against 16.59 MMT during last year. In FY'25, GRM for MRPL
was USD 4.45 /bbl against USD 10.36/ bbl during FY'24.

During FY'25, MRPL registered a standalone turnover of
' 1,092,775 million (against ' 1,052,233 million in FY'24) and
recorded profit after tax of ' 506 million (against Profit after
tax of ' 35,959 million in FY'24).

D.    Petronet MHB Ltd (PMHBL)

Your Company, together with its subsidiary HPCL, hold
equity shares of 49.996% each in PMHBL. With your
Company's holding of 54.9% in HPCL, the extent of its
holding in PMHBL comes to 77.44% and makes PHMBL a
subsidiary of ONGC. PMHBL owns and operates Mangalore
- Hassan - Bengaluru JV pipeline (362.3 Km) to transport
MRPL's petroleum products to various parts of Karnataka
State. First time after commissioning, PMHBL started ATF
transportation on 12^th November 2024 and achieved highest
throughput of a day on 15^th March 2025.

PMHBL achieved a thruput of 3.971 MMT in FY'25 against
4.05 MMT in FY'24 and reported total income of ' 2,061
million in FY'25 (' 1,857 million in FY'24) and recorded a net
profit (PAT) of ' 830 million in FY'25 (' 963 million in FY'24).

E.    ONGC Green Limited (OGL):

Your Company has established ONGC Green Limited (OGL)
as a wholly-owned subsidiary on 27^th February 2024. This
strategic move aims to diversify ONGC's business, mitigate
risks associated with fossil fuel dependency, and meet
sustainability objectives. OGL, since start of operation on
10^th April 2024, has significantly expanded its renewable
energy portfolio through key acquisitions:

•    OGL One Limited (formerly PTC Energy Ltd): On 4^th March
2025, OGL acquired a 100% equity stake in PTC Energy Ltd.
and subsequently changed its name to OGL One Limited
w.e.f. 4^th June 2025. This acquisition brought seven wind
power plants with a total capacity of 288.8 MW, located in
Madhya Pradesh, Karnataka, and Andhra Pradesh.

•    Ayana Renewable Power Private Ltd (via ONGPL Joint
Venture):

5 ONGC NTPC Green Private Limited (ONGPL), a 50:50
Joint Venture between OGL and NGEL (NTPC Green
Energy Ltd), was formed on 18^th November 2024.

5 On 27^th March 2025, ONGPL acquired a 100% equity
stake in Ayana Renewable Power Private Ltd. Ayana
Renewable Power contributes approximately 4.1 GW
of combined wind and solar capacity, including both
operational and under-construction assets.

These strategic acquisitions have added 2.345 GW (operating
+ under construction) of renewable energy capacity to
ONGC's portfolio, bringing its total RE capacity to 3.563
GW. This substantial progress is a key step towards ONGC's
targets of 10 GW RE capacity by 2030 and net-zero emissions
by 2038 for scope 1&2.

F. ONGC Petro additions Limited (OPaL)

OPaL is a mega petrochemical greenfield project established
in Dahej SEZ and incorporated in 2006 for utilizing in-house
production of C2-C3 and Naphtha from Hazira and Uran
units of your Company. With the approval of the Govt. of
India, your Company has made additional equity infusion
in OPaL to the tune of ' 18,365 crore along with allocation
of new well gas in place of withdrawn APM gas for swap
replenishment of shrinkage gas to C2-C3 Dahej plant.
Post infusion of additional equity, the shareholding of your
Company increased from 49.36% to 95.69% and became
subsidiary of your Company on 23^rd August 2024. Other
shareholders in OPaL are GAIL and GSPC with shareholding
of 4.19% and 0.12% respectively as on 31^st March, 2025.

During FY'25, OPaL reported revenue from operations of
' 148,040 million (' 143,073 million in FY'24) and loss of
' 37,259 million (loss of ' 34,561 million in FY'24). OPaL
has exited SEZ on 07^th March 2025 and operating as unit in
Domestic Tariff Area w.e.f. 08^th March 2025.

Associates and Joint Ventures:-

A.    ONGC Tripura Power Company Limited (OTPC)

OTPC was incorporated in 2004 as a joint venture of your
Company. Your Company held 50% of its shares as on
31^st March 2025.

OTPC has a 726.6 MW gas based Combined Cycle Power
Plant at Palatana, Tripura with two generating units with
equal capacity. The basic objective of the project is to
monetize idle gas assets of your Company in landlocked
Tripura State and to boost exploration efforts in the region.

The average Plant load factor for FY'25 was about 60.07 %
against 70.70% in FY'24 and power generation decreased to
3883 million Units (MU) in FY'25 from 4,368 MU in FY'24.

Revenue from standalone operations during FY'25 was '
13,517 million (' 15,473 million in FY'24) and profit after tax
(PAT) was ' 15 million during FY'25 (' 699 million during
FY'24).

B.    ONGC TERI Biotech Limited (OTBL)

OTBL is a JV incorporated in 2007 by your Company (49.98%)
along with The Energy Research Institute (TERI) (48.02%)
and the remaining 2% shares are held by individuals. OTBL
has developed various Biotechnical Solutions for oil and
gas Industry through collaborative research involving the
Company and TERI.

Revenue from operations of OTBL during FY'25 was ' 344
million (' 370 million in FY'24) and profit after tax (PAT) was
' 170 million during FY'25 (' 150 million during FY'24).

C.    Dahej SEZ Limited (DSL)

DSL, a 50:50 JV of your Company along with Gujarat Industrial
Development Corporation (GIDC), was incorporated in
2004 for establishing a multi-product SEZ at Dahej. Your

Company has set up C2-C3 Extraction Plant as a value-chain
integration project in this SEZ, which serves as feeder unit to
OPaL, a subsidiary of your Company.

Revenue from Operations of DSL during FY'25 was ' 986
million (un-audited) against ' 834 million in FY'24 (audited)
and PAT was ' 577 million during FY'25 (un-audited) against
' 444 million (audited) during FY'24.

D.    Mangalore SEZ Limited (MSEZL)

MSEZ is a JV, under Special Economic Zone and was
promoted by your Company with an equity stake of 26%.
MSEZ, was incorporated in 2006 for development of
necessary infrastructure to facilitate and locate industrial
establishments. MSEZ is operational since April 2015.

Revenue from standalone operations of MSEZ during FY'25
was ' 2,036 million (' 1,797 million in FY'24) and profit
after tax was ' 423 million during FY'25 (' 87 million during
FY'24).

E.    Pawan Hans Limited (PHL)

PHL, is an Associate of the Company, with 49% holdings, and
the Government of India holding remaining 51%. PHL was
formed primarily for catering to the logistic requirements
of offshore and other remote area oil fields. PHL is a Mini
Ratna-I Category PSU, having fleet of 43 helicopters.

PHL secured contract of charter hiring of 4 nos. of crew
change task helicopters for contract duration of 10 years
from your Company on 14^th November 2024.

F.    Petronet LNG Limited (PLL)

Petronet LNG Limited (PLL), an associate of your Company,
which was incorporated in 1998 with 12.50% equity holding
along with identical stakes held by other Oil PSU co¬
promoters viz., IOCL, GAIL and BPCL, is a listed Company.
PLL, the largest company in the country in supply of LNG, has
set up the country's first LNG receiving and regasification
terminal at Dahej, Gujarat, and another terminal at Kochi,
Kerala. While the plant at Dahej terminal has 17.5 MMTPA
capacity, the Kochi terminal has capacity of 5 MMTPA.

During FY'25, PLL recorded standalone revenue from
operations of ' 509,796 million (' 527,284 million during
FY'24) and Profit after tax (PAT) of ' 39,264 million during
FY'25 (' 35,362 million during FY'24).

G.    Indradhanush Gas Grid Limited (IGGL)

Your Company has promoted and subscribed 20% equity
capital in IGGL, a JV company in association with IOCL, GAIL,
OIL and NRL. IGGL was incorporated in 2018 for the purpose
of laying 1,656 KM pipeline covering north-east states with
a capex of ' 92,650 million. MoP&NG has approved Viability
Gap Funding (VGF) of '55,590 million which is 60% of the
project cost. Surveying, ROU acquisition and Pipeline laying
in various sections are under progress. Physical progress of
84.40 % and financial progress of 67.40% have been achieved
till 31^st March 2025 with a cumulative financial expenditure
of ' 62,460 million.

H.    Rohini Heliport Limited (RHL):

Your Company has subscribed 49% equity capital in Rohini
Heliport Limited with Government of India's stake as
51%, RHL is a mirror company of Pawan Hans Limited,
incorporated in 2019 for enabling disinvestment of PHL.

I.    Companies Which have become/ ceased to be Company's
Subsidiaries, Joint Ventures And Associates Companies
during FY'25

a)    Companies which have become direct subsidiaries:
OPaL w.e.f. 23^rd August 2024.

b)    Companies which have ceased to be subsidiaries: NIL.

c)    Companies which have become a joint venture or
associate: NIL.

d)    Companies which have ceased to be a joint venture or
associate: OPaL converted as a subsidiary.

*Only direct subsidiaries and JVs have been considered

27.    Make in India

To promote "Atmanirbhar Bharat”, ONGC has introduced
Development Order Policy in December 2020 for goods and
services after delinking it from routine tender process to
make the process easier and continuous. The policy enables
vendor to offer product at any point of time.

ONGC has been able to localize 26 products/Services through
36 successful development orders, another 9 products are
at various development stage by 11 Indian manufacturers
providers.

28.    ONGC Start-Up Initiative INDEG

'ONGC Start-up Fund', conceptualized in line with the 'Start¬
up India' initiative, launched by the Hon'ble Prime Minister
of India, was established to foster, nurture and incubate
new ideas related to energy sector. The Fund supports
and promotes an ecosystem in the Energy Sector for
entrepreneurship among the younger Indians.

ONGC Start-Up Fund supported 24 start-ups with
applications in energy sector. The financial commitment to
these Start-Ups was ' 782.80 million as on 31^st March 2025.
Further Due Diligence of 12 startups was in progress as on
31^st March 2025.

Several start-ups supported by your Company have
demonstrated significant success, thereby contributing to
the advancement of India's start-up ecosystem. Notable
examples include 'Sagar Defence', 'String Bio', 'WellRx',
'Chakr Innovations', and 'Logic Ladder'. In particular, the
'Sagar Defence' has emerged as a pioneering start-up
in the field of unmanned Ariel, Surface and underwater
vehicles and presently working with Defence, supporting
them by developing state-of-the-art technologies. Recently
the Startup has fetched the pre-money valuation of '18,000
Million in investment round of '2,500 Million. ONGC Startup
Fund holds an 8.83% stake on a fully diluted basis, post
recent investment round.

29.    Procurement through Government e-Marketplace
(GeM)

In Line with directives of Government of India, your Company
has been making all efforts to enhance procurement of
goods and services through GeM portal. During FY'25
ONGC's total procurement through GeM was ' 93,732 million
by placing 5,619 orders. This represents a 30.48% year-on-
year increase in vaLue terms. .

30.    Facilitation for payment of invoices through
TReDS Portal

In Line with the initiatives of Government of India, your
Company is registered on following TReDS platforms:-

i.    M/s RXIL,

ii.    M/s MYND Solution (M1xchange),

iii.    M/s A TREDS Ltd.    (Invoice    Mart),

iv.    C2treds (C2FO),

v.    KredX (DTX)

MSME vendors can have immediate access to Liquid fund
based on Buyers (i.e. ONGC's) credit rating by discounting
MSMEs trade receivabLes through an auction mechanism
where multiple financers can participate and bid. MSME
vendors can avail this benefit by registering themselves
with any of the above exchanges providing e-discounting/
eLectronic factoring services on TReDS pLatform where
ONGC is aLso participating in such TReDS PLatform as a
Buyer. The exchanges where ONGC is participating are being
notified from time to time.

The detaiLs of invoices discounted through TReDS system
during FY'25 were as under:

AdditionaLLy, the reduction in the credit period to 10 days by
your Company from FY'24 onwards is a commendabLe step
towards expediting vendor payments, further supporting the
MSME sector's need for timely financial inflows.

Additional information on MSME payment report of FY'25
with reference to DPE OM Dated 22^nd July 2024:

# This excludes the invoices where there is a deficiency in documents
on part of vendor

31. Health, Safety and Environment (HSE)

The principles of Health, Safety, and Environment (HSE) are
not just operational imperatives, they are foundational to
the Company's long-term vision and functioning. As India's
leading oil and gas enterprise, the Company recognizes that
sustainable operations are interlinked to the health and well¬
being of its workforce and protection of the environment.

The Company's HSE Policy reflects a proactive and
integrated approach to risk management and resiLience
whiLe maintaining operationaL exceLLence and guides
towards establishing a strong safety culture. Further, the
Company's Environment Policy underscores its commitment
to sustainable development by integrating environmental
considerations into aLL aspects of its activities, ensuring
compliance, conservation, and continual improvement.

Company's HSE Management System (HSEMS) provides a
structured framework to identify, evaluate, and mitigate risks
across its exploration and production (E&P) operations. This
system is aligned with the best global practices and complies
with standards set by the Oil Industry Safety Directorate
(OISD), Directorate General of Mines Safety (DGMS), Ministry
of Environment, Forest and Climate Change (MoEFCC) and
other authorities.

Company's HSE planning is progressive, encompassing
occupationaL heaLth, process safety, environmentaL
protection, emergency preparedness, and climate resilience.
The organization's unwavering commitment to the goal of
zero harm is reflected in its continuous efforts to eLiminate
workplace incidents and foster a culture of responsibility/
accountability with continual upgradation of systems and
skiLLs of work force.

FY'25 further exhibited the strengthening of ONGC's
safety culture and the effectiveness of its HSE initiatives.
The continued efforts of the Company are demonstrated
by the consistent decline in the overall incidents of about
18% compared to previous FY, underscoring a positive and
sustained trend in safety performance.

HSE Initiatives and Achievements:

1.    Safety Audits

Compliance with Health, Safety, and Environment (HSE)
management systems, along with adherence to applicable
rules, regulations, guidelines, and standards, is thoroughly
assessed through regular safety audits.

Internal Safety Audits (ISA) are conducted by multi¬
disciplinary teams within the Company. In addition, External
Safety Audits (ESA) are conducted by regulatory/ supervisory
authorities like Directorate General of Mines Safety (DGMS)
and Oil Industry Safety Directorate (OISD).

The status of audits and inspections, as of 31^st March 2025,
is as follows:

i.    Internal Safety Audits (ISAs)- 320 installations were
audited by multi-disciplinary teams and overall
compliance status of the observations raised was
94.34 %.

ii.    OISD Audits- 122 installations were audited by OISD
and the overall compliance status of the observations
raised was 91.79%.

iii.    DGMS Inspections- 202 installations were inspected by
DGMS and the overall compliance of the contraventions
raised was 96.53%.

2.    Procedure of ISA has been made more stringent by
introduction of randomization methodology. Under the
changed methodology, selection of locations and auditors
for conducting of ISA is being done on a random basis. The
randomly selected auditors are being informed on short
notice regarding the installations (randomly selected) for
the ISA. Further, in order to strengthen the skills of the
auditors, ISA trainings are provided to the identified officers,
which also included hands-on practice sessions.

3.    To reinforce the safety culture across the organization,
focused programs on Behaviour Based Safety are being
carried out.

4.    A structured incident reporting and investigation system has
been established in the Company which includes uniform
guidelines for timely reporting and acting. As a proactive
measure to ensure timely corrective action for incident
prevention, stress is being given on reporting of all Near
Miss, Unsafe Acts and Unsafe Working Conditions.

5.    For checking of the readiness and response capabilities for
emergency situations, and reinforcing safety protocols, a
total of 19,679 mock drills were conducted during FY 2024¬
25, across all operational areas of the Company. These drills
were based on various emergency scenarios outlined in the

Emergency Response Plans (ERP), Disaster Management
Plans (DMP), and Regional Contingency Plans (RCP).

6.    In compliance with the Mines Vocational Training (MVT)
Rules, 1966, Company provided Mines Vocational Training to
a total of 3,546 personnel during FY 2024-25. This included
both ONGC employees and contract staff, ensuring that
individuals working in mining operations are equipped with
the necessary safety knowledge and operational skills.

7.    The Stop Card Program of the Company empowers all
personnel to address any unattended hazard/ risk at
workplaces. This proactive approach enables immediate
corrective actions, fostering a culture of safety ownership
and risk prevention.

8.    The Company has implemented SAP-based programs
like capturing the Accident/Incident information, Safety
Audit Observations, Electronic Permit to Work (e-PTW),
Management of Change (MoC), etc. These online systems
ensure real-time monitoring of procedural compliance and
full traceability of safety-related activities. These digital
platforms streamline workflows, enable data analysis,
and reinforce adherence to safety protocols, thereby
strengthening ONGC's commitment to a safe and compliant
work environment.

9.    The Company secured 3 Environment Clearances (ECs) and
1 Coastal Regulatory Zone (CRZ) Clearance from Ministry
of Environment Forest and Climate Change (MoEFCC)
and 14 from State Authorities for various exploration and
development projects.

10.    Awareness campaigns, aligned with the Hon'ble Prime
Minister's initiative on Mission LiFE (LiFEstyle for
Environment), are being carried out through webinars and
digital media.

11.    Tree plantation target under the 'Ek Ped Maa Ke Naam'
initiative has been successfully achieved by the Company
by planting 1,50,000 saplings each in Mehsana, Gujarat
and Sivaganga, Tamil Nadu. Long-term survival of these
saplings is being ensured through a robust system of
regular maintenance and monitoring. The initiative is a
part of ONGC's broader commitment to environmental
protection, with a focus on soil conservation and river water
rejuvenation.

12.    Waste Management

i. The Company ensures strong commitment to
environmental sustainability through effective waste
management practices. The Company continuously
monitors wastewater usage and ensures that the
quality of discharged effluent complies with all
statutory requirements for surface and subsurface
discharge. To support this, the Company operates 41
Effluent Treatment Plants (ETPs) across its onshore
work centres, with a capacity for treating approximately
1,04,000 m³/day of waste water generated during
Exploration & Production (E&P) operations.

ii.    For offshore facilities, Produced Water Conditioners
(PWCs) have been installed on process platforms.

iii.    Additionally, Sewage Treatment Plants (STPs) are
provided to manage and treat sewage water generated,
ensuring minimal environmental impact.

13.    Hazardous Waste Management

i.    The Company adopts environmentally responsible
practices for the management of hazardous waste. The
hazardous waste is duly disposed of as per stipulated
guidelines. Oily sludge and oil-contaminated soil
wastes are treated using the bioremediation technique,
which employs a consortium of oil-degrading bacteria
to break down hazardous substances into non-toxic
compounds, ensuring safe and sustainable disposal.

ii.    The process ensures that the Total Petroleum
Hydrocarbon (TPH) content in the treated sludge is
reduced to below 0.5% (5000 ppm), in strict compliance
with the Hazardous and Other Wastes (Management
and Trans-boundary Movement) Rules, 2016.

14.    ONGC has established a robust oil spill management system
to effectively respond to any spill in its offshore operations.

The system is aligned with the National Oil Spill Disaster
Contingency Plan (NOS-DCP), promulgated by the Indian
Coast Guard (ICG), which serves as the central coordinating
authority for oil spill prevention and response in Indian
waters.

The tiered response methodology is given as under:

a.    Tier-I Response- ONGC maintains its own Tier-I oil
spill response equipment and trained personnel
onboard multi-support vessels across operational
areas to address localized spills.

b.    Tier-II Response- For larger spills, ONGC collaborates
with the Indian Coast Guard and mutual aid partners to
ensure timely and effective containment and recovery.

c.    Tier-III Response- ONGC holds a participant
membership with Oil Spill Response Limited (OSRL),
UK, granting access to OSRL's global resources,
including booms, skimmers, dispersants, storage
equipment, and specialized manpower.

15.    The efforts of the Company towards strengthening
workplace safety are further reflected in its Lost Time Injury
Frequency Rate (LTIFR)-a globally recognized benchmark
for safety performance. In 2024-25, the Company achieved
an LTIFR of 0.22, marking a consistent declining trend. This
improvement highlights the effectiveness of ONGC's safety
protocols, proactive hazard management, and the growing
safety culture across its operations.

The Company conducts internal mock drills and actively
participates in regional and national-level drills organized
by the Indian Navy and Indian Coast Guard. Furthermore,
ONGC submits annual preparedness returns to the ICG,

demonstrating its commitment to continuous improvement
in oil spill response capabilities.

32. Carbon Management and Sustainable
Development

Sustainable Development is the standard template in the
Company and this finds expression in our commitment
to continually enhance the benchmarks of economic,
environmental and social performance. The major
endeavours towards corporate sustainability were as under:

Clean Development Mechanism (CDM):

Your Company had 15 CDM projects registered with the
United Nations Framework Convention on Climate Change
(UNFCCC) under the Kyoto protocol since 2006.

ONGC is also continuing the Verification/Renewal of existing
CDM projects as well as finding opportunities for Registration
of new CDM projects. Your Company has already submitted
application with UNFCCC for transition of 6 CDM projects to
SDG projects under Article 6.4 of Paris Declaration, 2015.
The total CERs issued till date from the above mentioned
15 CDM projects is 2784579 CERs. Issuance fee has already
been submitted to UNFCCC for issuance of 230876 CERS
pertaining to 102 MW Wind Power Project for a period of
25^th July, 2016 to 24^th July, 2022.

Greenhouse Gas (GHG) Accounting and Mitigation:

ONGC aims to reduce GHG emissions by focusing on
improved energy efficiency. The scope-1 and scope-2
emissions during FY'25 was 9.501 MMTCO2e and Emission
intensity was 0.242 MMTCO2e/MMTOEG

Global Methane Initiative (GMI): Leak Detection and Repair
Program (LDAR)

The GMI is an action-oriented initiative from United States
Environment Protection Agency (USEPA) to reduce global
fugitive methane emissions to enhance economic growth,
promote energy security, improve the environment, and
reduce greenhouse gases emission. The reductions
are achieved through the implementation of “Directed
Inspection and Maintenance program" (DI&M) wherein leaks
are detected by undertaking survey through IR Camera and
remedial measures are taken to arrest the leakage.

Your Company is also a signatory of the Oil and Gas De¬
carbonization Charter (OGDC) at COP-28. By signing OGDC
ONGC has committed to initiate steps to achieve net-zero
operations by 2050 at the latest, and ending routine flaring by
2030, and near-zero upstream methane emissions. In view
of ONGC's commitment to achieve Zero Routine flaring by
2030 and near zero upstream methane emissions, ONGC has
adopted top down approach to detect Methane concentration
in atmosphere above its area of operation using TROPOMI
(Tropospheric Monitoring Instrument) Satellite data through
its remote sensing division of KDMIPE. Further ONGC has
signed a Cooperation Agreement with TotalEnergies to
carry out methane emissions detection and measurement

campaigns using TotalEnergies pioneer AUSEA (Airborne
Ultralight Spectrometer for Environmental Applications)
technology. ONGC in collaboration with Total Energies is
planning to conduct Drone Surveys using Total Energies
Patented technology AUSEA to detect particular area in an
installation where methane emissions are occurring.

In FY'25, ONGC has conducted Leak Detection Survey of
fugitive methane emissions at Hazira and Uran plant(s).

With the above efforts, ONGC has been able to detect
approx. 25.35 MMSCM of fugitive methane gas in FY'25 and
is currently undertaking the repair campaign to arrest the
leakages.

It is important to note that ONGC is conducting LDAR (Leak
Detection and Repair Program) since 2008. Till date, ONGC
has detected and arrested fugitive methane emissions
around 45.83 MMSCM of fugitive methane gas.

Solar and Wind energy initiatives:

The total installed capacity of renewable energy as on
31^st March 2025 was 193.86 MW (Solar: 39.96MW and Wind:
153.9 MW).

Replacement of conventional lights with LED lighting:

In line with the Government of India's call for promoting
efficient energy use (Ujala Scheme), ONGC entered into a
MoU with Energy Efficiency Services Limited (EESL) for
replacement of all conventional lights in ONGC in a phased
manner. However, incandescent lamps, tube lights and
CFLs were immediately replaced. As of end of FY25, ONGC
has installed around 362,622LEDs.

Carbon Capture, Storage and Utilisation (CCSU)

Carbon Capture, Storage and Utilization (CCSU) is a critical
CO₂ emission abatement technology that can prevent large
quantities of CO₂ from being released into the atmosphere.
In line to achieve the target of Net Zero carbon emissions by
2038, ONGC is taking many net zero initiatives with various
mitigating measures.

To understand the rates and mechanisms of key geochemical
reactions and their implication on geological storage, a
state-of-the-art Carbon Capture, Utilization and Storage
(CCUS) Laboratory has been created within Keshava Deva
Malaviya Institute of Petroleum Exploration, Dehradun.

In FY'25, studies have been carried out with varied objectives
at CCUS Lab, KDMIPE. Key details of the same are as
follows:

1. Strontium Isotope Geochemistry and Formation Water
Interaction study in Gandhar Field: Significant water-
rock interactions in the GS-3B sands of the Gandhar
Field, evidenced by enriched Sr⁸⁷/Sr⁸⁶ ratios (0.774 to
0.928) and elevated Sr concentrations were observed.
These findings support the utility of Sr isotopes as
reliable tracers for assessing fluid-rock interaction
and hold important implications for CO₂ sequestration
monitoring, where isotopic shifts can track
geochemical evolution during mineral carbonation.

2.    CO₂ Sequestration Potential and Trapping Mechanisms
in Gandhar field sand reservoir: Geochemical modeling
indicates strong short-term CO₂ trapping efficiencies
(97.72%) in the GS-3B sands of Gandhar field through
residual (13.3%) and solubility (13.92%) mechanisms.
Mineral trapping also contributes to long-term stability
(2.28-6.08%) via carbonate precipitation induced
by feldspar dissolution. These results reinforce the
reservoir's suitability for CCS, with recommendations
to inject CO₂ below the gas-water contact (GWC) to
optimize containment and dissolution.

3.    Petrophysical and Geochemical Alteration of Basalt
under CO₂ Flooding (Mumbai Offshore): CO₂ injection
in basaltic cores resulted in increased porosity from
mineral dissolution, but decreased permeability
due to secondary mineral precipitation (e.g.,
carbonates). Geochemical shifts such as rising cation
and bicarbonate levels confirm active carbonation.
Saturation index trends and pH stabilization indicate
progressive mineral trapping and geochemical
buffering.

4.    Geochemical Methodology for CO₂ Sequestration Site
Selection: A geochemical approach was developed to
identify optimal sites for CO₂ sequestration, focusing
on mineral trapping via divalent cations (Ca, Mg, Fe)
in silicate-rich rocks. Since sedimentary rocks are
depleted of reactive minerals, igneous rocks like
basalt and ultramafic types are preferred for enhanced
carbonation. With CO₂ absorption capacity of 0.7 g per
gram of Mg, site suitability was assessed using optical-
emission spectrometry to analyze labile, inorganic,
and inhibitor ions. A patent for this methodology has
been filed with the Government of India.

ESG Ratings

Your Company has achieved a B- rating in its 2024 CDP
(Carbon Disclosure Project) thematic score for climate. This
recognition underscores ONGC's dedication to transparency
in Environmental, Social and Governance (ESG)practices,
reaffirming its position as a responsible energy leader.

In 2024, S&P Global also revised the rating outlook on ONGC
from 16 to 28. This suggests a positive trajectory for ONGC's
creditworthiness and ESG performance.

33. Internal Financial Control System:

Your Company has put in place adequate Internal Financial
Controls by laying down policies and procedures to ensure the
efficient conduct of its business, safeguarding of its assets,
prevention and detection of frauds and errors, accuracy
and completeness of the accounting records, and timely
preparation of reliable financial information commensurate
with the operations of the Company. Effectiveness of Internal

Financial Controls is ensured through management reviews,
self-assessment and independent testing by the Internal
Audit Team indicating that your Company has adequate
Internal Financial Controls over Financial Reporting in
compliance with the provisions of the Companies Act,
2013 and such Internal Financial Controls are operating
effectively. The Audit Committee/ Board reviews the Internal
Financial Controls to ensure its effectiveness for achieving
the intended purpose. Independent Auditors Report on the
Internal Financial Controls of the Company in terms of
Clause (i) of Sub-Section 3 of Section 143 of the Companies
Act, 2013 by the Statutory Auditors is placed along with the
Financial Statements.

34.    Conservation of Energy, Technology Absorption
and Foreign Exchange earnings & Outgo:

The information as required under section 134(3) (m) of the
Companies Act, 2013, read with the Companies (Accounts)
Rules, 2014, is annexed as Annexure - B.

35.    Business Responsibility and Sustainability Report

Business Responsibility and Sustainability Report (BRSR)
is annexed as Annexure - C and forms part of the Board's
Report.

36.    Management Discussion and Analysis Report

As per regulation 34(2)(e) of the SEBI (Listing Obligations
and Disclosure Requirements) Regulations 2015, the
Management Discussion and Analysis Report (MDAR) forms
part of this Report.

37.    Corporate Governance

A report on Corporate Governance as stipulated under
Regulation 34(3) read with Schedule V of SEBI (Listing
Obligations and Disclosure Requirements) Regulations,
2015 and also on DPE Guidelines on Corporate Governance,
2010 forms part of the Annual Report.

38.    Human Resource Development

ONGC firmly believes that its workforce is the foundation
stone of organizational excellence. In alignment with
this philosophy, it is dedicated to building a progressive,
inclusive and high-performance work environment where
employees are empowered to contribute meaningfully.
The human resource agenda is strategically aligned with
the broader goals of the Company, focusing on fostering
employee commitment, enhancing workplace satisfaction
and offering continuous avenues for professional growth
and skill enhancement.

With a forward-looking approach, ONGC is actively leveraging
digital technologies and data-driven tools to modernize HR
operations, streamline internal processes and strengthen
learning ecosystems. These efforts are aimed at not only
increasing operational efficiency but also ensuring that
employees remain agile, future-ready and well-equipped to
thrive in a rapidly transforming industry.

As of 31^st March 2025, ONGC employed 24,368 regular
personnel. Supported by transparent policies and merit-
based HR practices, the Company continues to invest in its
human capital to build a resilient, adaptive and purpose-
driven workforce. This commitment enables employees to
successfully meet evolving industry demands and contribute
effectively to ONGC's role in transitioning global energy
landscape.

Capacity building: In the fast-paced ever-evolving world
of Exploration & Production, where change is constant
and innovation drives success, a skilled and future-ready
workforce is not just an asset — it's a necessity. Recognizing
this, the HR team has crafted some of the industry's most
forward-thinking learning and development programs,
designed to empower employees for both today's challenges
and tomorrow's opportunities.

In FY'25, this commitment to learning came to life as
13,461 executives and 4,304 non-executives sharpened
their expertise through specialized training across critical
domains - fuelling both personal growth and organizational
excellence.

ONGC ATI effectively marketed the PEB infrastructure and
generated revenue of ' 1.18 lakh by facilitating National
Seminar of FSAI "FESA (Fire Electrical Security and
Automation)-2025 for Pharma and allied industries”.

ONGC ATI got accredited with international agencies to
deliver world class courses of OPITO, NEBOSH and IOSH.

Apprenticeship engagement - During FY'25, ONGC engaged
1,072 number of apprentices in different trades under
National Apprenticeship Promotion Scheme (NAPS) and
National Apprenticeship Training Scheme (NATS), which was
more than the minimum required 2.5% of total manpower in
ONGC as per Apprenticeship Act, 1961.

Internship under Prime Minister's Internship Scheme-

ONGC is one of the leading companies amongst all
participating companies, in terms of number of internship
engagement. 6,000 internship opportunities were created
during FY'25, in different disciplines, for interns to join for
a yearlong training curriculum. To enhance employability of
the interns, the minimum duration for hands-on training for
these interns is 50 per cent of the total duration of training.

Employee Engagement- During FY'25, ONGC rolled out a
diverse range of employee engagement initiatives aimed
at fostering a culture of collaboration, innovation and
shared growth. These efforts were strategically designed
to strengthen team synergy and drive a sustained pursuit of
excellence across the organization. The dynamic employee
engagement initiatives were crafted not just to connect
minds, but to ignite innovation, inspire collaboration and
cultivate a shared journey toward excellence. With every
activity, the spirit of unity and forward-thinking came alive,
shaping a workplace where collective growth isn't just
encouraged — it's celebrated.

Some of the highlights are as follows:

•    Unnati Shikhar - Accelerated Leadership Development
Programme : A recurring Accelerated Business
Leadership Development Programme targeting high-
performing and high-potential executives at the E6
and E7 levels was introduced in ONGC in 2025. This
aligned with ONGC's vision of developing a future-
ready leadership pipeline. 120 executives were short¬
listed based on various parameters and assessments
for 3 day offsite immersive Learning. The participants
will be placed in challenging roles and exposed to
experiential learning, while they continue to learn
through various interventions and modes.

•    Prevention of Sexual Harassment at Workplace: To

reinforce our commitment to a safe and respectful
workplace, ONGC has launched “CARE - Confidence,
Assimilation, Respect, and Equity at Workplace"
in 2025. This comprehensive e-learning Gender
Sensitisation and POSH programme is designed for
all E4 and above level executives. This initiative equips
managers with a clear understanding of workplace
conduct, ensuring compliance and fostering a positive
work environment.

•    Bug Bounty 2024: Bug Bounty event was focused on
identifying vulnerabilities within the application hosted
on Engineers India Limited provided Virtual Machine.
59 teams from ONGC registered for the programme. 3
teams made it to the National finals of the events after
2 rounds. ONGC team from RCC Vadodara emerged as
Runner Up.

•    Annual Awards: The Annual Awards 2024 were
revamped and re-calibrated to identify high performing
teams and individuals, felicitating them for their
outstanding contribution. As a tribute to the star
performers of ONGC, whose relentless commitment
keeps driving the organization to greater heights, the
theme for this year's Annual Awards was 'Sitarey'.

Work- Life Balance: At ONGC, the employee experience
goes far beyond the workplace — it's about creating a
way of life. Across our townships, vibrant spaces like
gymnasiums, clubs, sports arenas and music rooms
come together to form more than just infrastructure;
they build a thriving community. Even at offshore,
ONGC's living quarters are thoughtfully equipped with
gyms, yoga and sports facilities and libraries, ensuring
well-being is never out of reach, no matter the location.

But it's not just the spaces — it's the spirit. ONGC
proudly champions a culture of connection by
supporting a diverse range of collectives, from Officers'
Clubs and Women Development Forums to Employees
Welfare Associations. These groups, along with year-
round celebrations, cultural events and team-driven
activities, infuse everyday life with a sense of belonging,

shared purpose and joy — turning colleagues into
communities and workplaces into homes.

Health and Wellbeing: ONGC has established Wellness
Centres across its various work locations, serving
as dedicated spaces for health consultations and
counselling for employees and their dependent family
members. These centres are more than just clinics
— they are part of a larger movement to promote
proactive well-being, encouraging healthy lifestyle
choices and preventive care. Through regular health
awareness sessions and wellness initiatives, ONGC
continues to reinforce the importance of holistic health
across the organization.

Beyond the workplace, ONGC extends its healthcare
mission to the heart of rural India. Staying true to its
commitment to social responsibility, the Company,
under CSR, conducts multi-speciality medical camps
in remote and underserved areas. These camps offer
much-needed medical attention, including check-ups,
free medication, rehabilitation aids and spectacles —
bringing quality healthcare to the doorsteps of those
who need it most and embodying ONGC's vision of
inclusive and compassionate growth.

Employee Welfare Trusts:

ONGC has established the following Trusts for welfare and
social security of employees: -

•    Employees Contributory Provident Fund (ECPF) is an

exempted PF Trust established by your Company under
EPF&MP Act 1952. The Trust manages the Provident
Fund of the employees.

•    Post-Retirement Benefit Scheme (PRBS) Trust
manages the pension fund of employees of your
Company.

•    Composite Social Security Scheme (CSSS) formulated
by your Company provides an assured ex-gratia
payment in the event of unfortunate death or
permanent disability of an employee, while in service.

•    Gratuity Fund Trust has been established for payment
of gratuity as per the provisions of the Gratuity Act.

•    ONGC Post-Retirement Medical Benefits (PRMB)

Trust is managing the funds for the post-retirement
medical benefits of employees.

To further its commitment to the well-being of its extended
workforce, ONGC has established the Sahyog Trust under
the Sahyog Yojana — a compassionate initiative designed
to provide ex-gratia financial support in times of need. This
scheme extends a helping hand for various critical needs
including medical treatment, rehabilitation, education,
sustenance, marriage of female dependents and other
unforeseen hardships faced by employees or their families
who lack alternative support systems.

Through the Sahyog Trust, ONGC reinforces its ethos of
care, dignity and solidarity for all members of its workforce,
across all employment categories. The scheme reflects
ONGC's inclusive approach, extending beyond regular and
former employees to cover casual, contingent, daily-rated,
part-time, ad hoc, contract and tenure-based personnel
engaged with the Company. Through the Sahyog Yojana,
ONGC reaffirms its deep-rooted commitment to standing
by every member of its workforce, ensuring care, dignity
and support are available to all — especially in their most
challenging times.

•    The Asha Kiran Scheme is also in place to meet the
emergency needs of the ex-employees retired prior
to 1^st January 2007. The scheme was launched as
per DPE guidelines with a corpus of 1.5% of profit
before tax.

Implementation of Govt. Directives for Priority Section

ONGC recognizes its responsibility towards welfare of SC
and ST communities and complies with the Government
directives in this regard. Scheduled Castes (SC) and
Scheduled Tribe (ST) employees were 15.3 percent and 11.3
percent respectively; as on 31^st March 2025.

Your Company carried out following welfare activities for
their betterment in and around its operational areas:-

•    Annual Component Plan: Each year, an allocation of
'200 million is set aside under the Annual Component
Plan. Of this amount, '60 million is designated for
work centers to support welfare activities aimed at
benefiting local SC/ST communities within operational
areas. The remaining '140 million is centrally managed
and specifically allocated to fund welfare initiatives,
including education, training, community development
and healthcare, to support the upliftment of individuals
and areas belonging to SC/ST communities.

•    Scholarship to meritorious students: To support
higher education of meritorious SC & ST / OBC and
EWS students, 2000 scholarships are offered annually
to SC & ST/ OBC and EWS students for pursuing
Engineering, MBBS, Geosciences and MBA courses.
An amount of ' 48,000/- per student per year is offered,
subject to fulfilment of conditions under the scheme.

•    Internal grievance redressal Committee for persons
belonging to SC/ ST/ PWD have been constituted
separately at all work centres. Chief Liaison Officers
for SC/ST/PWD and OBC respectively have been
appointed in addition to Liaison Officers at all work
centres to safeguard the interest of SC/ST/PWD/OBC
employees.

Diversity & Inclusion: ONGC is committed to being an equal
opportunity employer, strictly adhering to constitutional
and government guidelines to create fair and inclusive

opportunities for all employees. The Company actively
promotes the development of its workforce, regardless of
caste, creed, race, gender, disability status, or any other
distinguishing characteristic. Diversity, as per government
requirements, is consistently represented across the
organization.

Women Empowerment: Women employees constituted 8.0
per cent of ONGC's workforce as on 31^st March 2025. The
Company has been at the forefront of fostering inclusive
workplace practices that not only support the career
advancement of women but also enhance their leadership
capabilities.

Inclusion of Persons with Disabilities (PwD): ONGC's
infrastructure and facilities are designed to create an
enabling environment for Persons with Disabilities, allowing
them to effectively perform their duties. PwD employees are
given due consideration in recruitment, job assignments,
transfers, accommodations and leave policies. The Company
has also reviewed and updated various welfare policies,
including the formulation of an Equal Opportunity Policy
under the Rights of Persons with Disabilities Act, which has
been registered with the Chief Commissioner for Persons
with Disabilities (Divyangjan).

ONGC Para Games

•    As part of ONGC's commitment to diversity & inclusivity,
ONGC has undertaken a number of steps to create an
environment that provides equal opportunities to Persons
with Disabilities, protects their rights and enables their full
participation in society as productive citizens of our great
Nation.

•    In our continued efforts, ONGC has undertaken the unique
initiative of organizing Para Games to promote sports
amongst Employees with Disabilities.

•    ONGC is the first Public Sector Enterprise in the country to
organize Para Games for its employees.

•    Till date ONGC has organised 6 editions of Para Games as
below:

i.    1^st ONGC Para Games: Thyagraj Stadium, New Delhi,
19 - 21 Dec, 2017.

ii.    2^nd ONGC Para Games: Thyagraj Stadium, New Delhi,
13 - 15 Mar, 2019.

iii. 3^rd ONGC Para Games: SAI Gandhinagar, Gujarat, 3 - 5
Dec, 2019.

iv.    4^th ONGC Games: Thyagraj Stadium, New Delhi, 2 - 4
August 2022.

v.    5^th ONGC Games: Thyagraj Stadium, New Delhi, 7 - 10
March, 2024.

vi.    6^th ONGC Para Games: Thyagraj Stadium, New Delhi,
6 - 9 March, 2025

In 6^th edition a total of approx. 350 para athletes participated
from ONGC, IOCL, BPCL, HPCL, GAIL, OIL & EIL.

•    The participants competed in Athletics, Badminton and
Table- Tennis in their respective physical category of
Orthopedically Handicapped, Wheel Chair bound, Hearing
Impaired and Visually Impaired.

•    In Athletics, competitions were held in 100m, 200m, 2km
Walk, Long Jump, Discuss Throw & 100m - Wheelchair
bound. In Badminton & Table Tennis, competitions were
held in Singles, Doubles & Mixed Doubles.

Maternity Policy Compliance: The provisions of the
Maternity Benefit Act, 1961 is strictly ensured by ONGC for
all eligible beneficiaries, in accordance with the provisions
laid down under the Act.

Sexual Harassment Policy Compliance: In compliance with
the Sexual Harassment of Women at Workplace (Prevention,
Prohibition and Redressal) Act, 2013, ONGC has established
Internal Committees (IC) to address complaints of sexual
harassment. Members of these committees undergo
training to ensure they possess the necessary skills and
knowledge to handle such sensitive matters with care and
expertise.

Disclosure under the Sexual Harassment: ONGC has
complied with the provisions under the Sexual Harassment
of women at workplace (Prevention, Prohibition and
Redressal) Act, 2013. As per the provisions under the
Act, Internal Committees (IC) have been constituted for
dealing with complaints of sexual harassment of women
at workplace. The members of the IC have been provided
training programs to equip them with relevant knowledge
and tact for enquiring into such complaints.

Following is a summary of sexual harassment complaints:

39. Industrial Relations

Harmonious Industrial Relations were maintained in your
Company throughout the year. Man-days loss due to internal
industrial action was reported as 'NIL' for FY'25.

40.    Compliance under the Right to Information Act,
2005

A comprehensive and well-structured framework is in
place to manage RTI (Right to Information) applications in
accordance with the Right to Information Act, 2005. A senior
officer has been appointed as the 'Nodal Officer' to ensure
compliance with the provisions of the RTI Act. In addition,
22 executives have been designated as 'Central Public
Information Officers' (CPIOs) across various work centres
within the Company to process and address RTI requests.
A senior officer also serves as the First Appellate Authority,
responsible for reviewing appeals.

For the convenience of the public, the Company's official
website, www.onqcindia.com. provides key information
regarding the Right to Information Act, 2005.

During the fiscal year 2025, the Company received a total
of 1,210 RTI applications. Out of these, information was
provided in response to 945 applications, 41 were rejected
and 22 were transferred to the relevant public authorities.
Furthermore, 16 applications were returned to the applicants
as per the provisions of the RTI Act. As of 31^st March, 2025,
there were 186 pending requests. In addition, the Company
recorded a total of 273 first appeals, including an opening
balance of 43. Of these, 63 appeals were resolved during
the reporting period, while the remaining 166 are currently
under processing by the CPIOs at various locations, following
the decisions of the First Appellate Authority.

41.    Implementation of Official Language Policy

In alignment with the Official Language Policy of the
Government of India, ONGC has made significant strides
during the financial year 2025 to promote and implement
Hindi as the official language across all levels of operation.
Various initiatives were undertaken to ensure compliance
with the Official Languages Act and its associated rules.
ONGC remains committed to further strengthening its
implementation mechanisms in the upcoming year and
ensuring consistent adherence to the official language
policy.

Some of the accomplishments during the financial year
2024-25 include:

(i)    As per the Annual Calendar of Rajbhasha activities
issued by the Rajbhasha Department, Ministry of Home
Affairs, Government of India, all planned activities
were successfully executed at ONGC's work centres
nationwide throughout the year.

(ii)    In line with the directives from the Parliamentary
Committee on Official Language, ONGC Headquarters
conducted official language inspections at various
work centres across the country.

(iii)    Executives from the Rajbhasha Department at the
Headquarters in Dehradun supported the Official

Language officers at work centres in the preparation of
quarterly and annual reports, which were subsequently
submitted to the Ministry of Home Affairs' website.

(iv)    During 2024-25, every ONGC work centre published
biannual Hindi magazines to foster the promotion of
the Official Language.

(v)    Hindi workshops and coordination meetings were
held every three months at all work centres to engage
employees with the Official Language and guide them
in incorporating it into their daily tasks. Additionally,
Unicode Hindi software was installed on all new PCs.

(vi)    A series of programs, including Hindi technical
seminars/webinars, Kavi Sammelans and Hindi plays,
were organized at various centres. Notably, a Hindi
play titled “With Love, Aap Ki Saiyaara," focusing
on women empowerment and featuring Bollywood
actress Ms. Juhi Babbar, was staged on 9^th June, 2024,
at the Community Centre Hall in Dehradun.

(vii)    In September 2024, a series of events were held across
ONGC work centres as part of the Rajbhasha Fortnight
celebrations.

(viii)    Hindi books and periodicals were procured at the work
centres.

(ix)    The e-roster of employees' Hindi proficiency was
updated to reflect new hires and training undertaken
by staff to enhance their Hindi language skills.

(x)    In line with the paperless office initiative, a
bilingual approach was adopted to ensure effective
implementation of the Official Language Policy. The
processing of proposals in Hindi via the Disha portal
was actively promoted among employees.

(xi)    During 2024-25, the Rajbhasha Parliamentary
Committee inspected three work centres—Ahmedabad,
Mehsana and Cambay—located in Ahmedabad city.
The committee lauded the exemplary implementation
of the Official Language at these locations.

(xii)    ONGC's work centres in Dehradun, Ankleshwar,
Mehsana, Assam, Nazira, Tripura, Cauvery and
Rajahmundry hold the chairmanship of NARAKAS
(TOLIC) and regularly organize meetings with TOLIC
members twice a year to reinforce the adoption of
Hindi in official communications.

(xiii)    To encourage employee participation in using Hindi for
official tasks, an incentive program was introduced,
awarding both executives and staff monthly prizes for
exemplary contributions to office work conducted in
Hindi.

(xiv)    ONGC Headquarters hosted a “Literary Seminar and
Honor Ceremony" on 10^th January, 2025, in celebration
of World Hindi Day. Distinguished litterateurs from

Uttarakhand were recognized for their significant
literary contributions.

(xv)    On 17^th February, 2025, the Joint Regional Official
Language Conference, organized by the Official
Language Department of the Union Ministry of Home
Affairs, took place in Jaipur. On this occasion, the
Town Official Language Implementation Committee
(NARAKAS) Office-2, Dehradun, under the leadership
of ONGC Headquarters, received the first prize for
exceptional official language implementation, awarded
by the Chief Minister of Rajasthan and the Union
Minister of State for Home Affairs.

(xvi)    The Ministry of Petroleum and Natural Gas, Government
of India, recognized ONGC Headquarters in Dehradun
with the Incentive Award for the best execution of the
Official Language Policy during the 2023-24 period,
announced in the 2024-25 financial year.

These initiatives reflect ONGC's unwavering
commitment for advancing the use of Hindi and
ensuring the effective implementation of the Official
Language Policy at all levels of its operations.

42. Sports

As a distinguished Maharatna PSU, ONGC is resolutely
committed to the promotion of sports and the advancement
of athletes, offering valuable employment opportunities
and scholarships to foster their professional growth. The
Company's strategic sponsorship of leading sporting
associations, federations and high-profile events, coupled
with its significant investments in sports infrastructure, has
created a robust ecosystem for nurturing athletic talent.
These initiatives have enabled numerous sportspersons
to bring home prestigious accolades, reflecting both
national pride and the Company's unwavering dedication to
excellence. In doing so, ONGC has not only contributed to
the sporting landscape but has also reinforced its legacy as
a champion of talent and achievement.

Some of the significant achievements of our sportspersons
during the year were as follows:

(i) ONGCians for Paris Olympics 2024:

Six ONGC sportspersons (employees) represented country
and brought laurels for the country by winning 1 medal in
Olympics 2024 at Paris, France:

a.    Mr. Sumit - Bronze Medal in Men's Hockey

b.    Ms. Ashwini Poonappa - Badminton

c.    Mr. H.S. Prannoy - Badminton

d.    Mr. Harmeet Desai - Table Tennis

e.    Ms. G. Sathiyan (Standby player) - Table Tennis

f.    Ms. M.R.Poovamma - Athletics (4 X 400 m relay)

Other major Achievements:

International

•    Ms. Ankita Raina won the ITF World Tennis Tour in
Kashiwa (Japan) from 1-7 April 2024.

•    Ms. Rashmi Kumari won the 6^th Asian Carrom
Championship 27 April - 1^st May 2024 at Male (Maldives).

•    Mr. Virat Kohli was part of ICC T-20 World Cup 2024
winning Indian team from 1-29 June 2024.

•    Chess Player Mr. K. Sasikiran won Bronze in 57^th
International Chess Festival Biel 2024 - Swiss Rapid
Fischer Random Championship (960) Fischer Random
event on 13^th July 2024.

•    Chess Player Mr. Deep Sengupta won Gold in Warsaw
Chess Festival - XXI Mieczyslaw (Miguel) Najdorf
Memorial- Group A from 09-17 July 2024

•    B&S Player Mr. Dhruv Sitwala won Gold in Asian
Billiards Championship Riyadh from 1^st to 5^th June 2024.

•    B&S Player Mr. Dhruv Sitwala won Gold in Auckland
Open Billiards Championship from 11^th to 12^th Sep
2024.

•    B&S Player Mr. Dhruv Sitwala won Gold in New
Zealand Open Billiards Championship Auckland from
13^th to 15^th Sep 2024.

•    Chess Players Ms. Koneru Humpy & Mr. Vidit
Gujrathi won a team Bronze in FIDE World Blitz Team
Championships 2024 at Kazakhstan from 1-6 Aug
2024.

•    Chess Player Mr. S.P.Sethuraman won the
Commonwealth Chess Championships from 27^th Aug -
6^th Sep 2024 at Sri Lanka.

•    Chess Player Mr. Vidit Gujarati won Gold (Team) in 45^th
FIDE Chess Olympiad, Budapest, Hungary from 09 - 25
Sep, 2024.

•    Chess Player Mr. Vidit Gujrathi won historic Gold in 45^th
International Chess Olympiad held at Budapest from
10 - 23 Sep 2024. Chess Player Vidit Gujarati won Gold
(Team), Silver (Individual) in European Chess Club Cup
2024, Serbia, from 19 - 27 Oct, 2024.

•    Table Tennis player Mr. G. Sathiyan won Bronze (Men's
Team) in Asian Championships at Astana, Kazakhstan
from 6 - 13 Oct 2024.

•    Mr. Pankaj Advani won the prestigious SongHe
Singapore Open from 2-6 Oct 2024.

•    Mr. Sourav Kothari won Bronze in IBSF World Billiards
Championship, Doha, from 5 - 9 Nov, 2024.

•    Chess Player Mr. Vidit Gujarati won 2^nd (Individual) in
London Chess Classic 2024, London, UK from 27 Nov -
10 Dec 2024.

•    Carrom player Ms. Rashmi Kumari won - Silver
(Women Singles), Silver (Women Doubles) & Gold
(Women Team) in 6^th Carrom World Cup 2024-25 from
10 to 17 Nov 2024 at California (USA).

•    B&S Player Mr. Pankaj Advani won Gold in IBSF World
Billiar ds Championship from 5^th to 9^th Nov 2024 &
ACBS Asian Snooker Championship from 15^th to 19^th
Feb 2025 at Doha, Qatar.

•    Chess player Ms. Koneru Humpy won Gold (Women's
Rapid) in FIDE World Rapid & Blitz Championships at
New York from 26 - 31 Dec 2024.

•    Ms. Koneru Humpy won Gold (Individual) in Women's
World rapid chess championship, New York from 26 -
28 Dec 2024.

•    Chess player Mr. Vidit Gujarathi won Gold in Freestyle
chess qualifiers (Online) held from 14 March 2025.

National

•    Ms. Rashmi Kumari won 51^st Senior National Carrom
Tournament at Gwalior (M.P) in April 2024.

•    Carrom player Ms. Rashmi Kumari & Ms. S Ilavzhaki
won Silver Medal in 52^nd Senior National Carrom
Championship (Womens Team) held at Delhi from 17^th
to 21^st March 2025.

•    Ms. M.R. Poovamma won Gold Medal in National
Federation Cup Senior Athletics Competition at
Bhubaneswar from 12-15 May 2024.

•    Ms. M.R. Poovamma won Silver Medal (400 mtr) in 77^th
National Championships at Trivandrum from 18-22
Sep 2024.

•    Table Tennis player Mr. G. Sathiyan won UTT National
ranking TT tournament Panchkula from 15 - 22 Nov
2024.

•    Shooting player Mr. Amanpreet Singh won Silver
Medal 50mtr pistol in 67^th, National Shooting Pistol
Championship held at Delhi from 13^th Dec 2024 to 5^th
Jan 2025.

•    Kabaddi player Mr. Rajesh Narwal won Silver Medal in
38^th National Game held at Haridwar from 29^th Jan to
02^nd Feb 2025

•    Table Tennis player Mr. Harmeet Desai won Gold Men's
Team in 86^th National and Inter State Table Tennis
Championships at Surat from 17-23 Jan 2025.

•    Boxing player Mr. Shiva Thapa won Bronze Medal in 8^th
Elite Men National Boxing Championship at Bareilly
UP from 06^th to 14^th Jan 2025.

•    Boxing player Mr. Shiva Thapa won Silver Medal in
38^th National Games held at Pithoragarh, Uttarakhand
from 29^th Jan to 07^th Feb 2025.

•    Basketball player Mr. Vishesh Bhriguvanshi won
Bronze Medal in 38^th National Game held at Dehradun
from 26^th Jan to 02^nd Feb 2025

•    Table Tennis player Mr. A.Amalraj won Gold Men's
Doubles and won Silver Medal Men's Team in 38^th
National Games held at Dehardun from 9-13 Feb 2025.

•    Table Tennis player Mr. Sourav Saha won Gold Men's
Team in 38^th National Games held at Dehardun from
9-13 Feb 2025.

•    Table Tennis player Mr. G. Sathiyan won Gold Men's
Doubles in 38^th National Games held at Dehardun from
9-13 Feb 2025.

•    Mr. Pankaj Advani won Gold in National Snookar
Championship held at Indore from 5-10 Feb 2025.

•    Mr. Pankaj Advani won Gold in CCI Classic National a
Level Snooker Championship from 5-7 March 2025.

(ii) Recognitions

•    Mr. Sandeep Sagwan (Hockey) was conferred with
Dhronacharya Award by the Hon'ble President of India.

•    The total number of National Awardees in the
organization stand at 64 (Padma Bhushan - 1,
Khel Ratna - 2, Padma Shri - 6, Arjuna Award - 52,
Dhyanchand Award - 2 and Dhroncharya Award - 1)

43.    Corporate Social Responsibility (CSR)

As one of India's premier Nation Builders, ONGC remains
steadfast in its commitment to fulfilling its social
responsibility. The Annual Report on CSR activities is
annexed as Annexure - D & E.

44.    Regulatory or Courts order

During FY'25, there was no order or direction of any court or
tribunal or regulatory authority either affecting Company's
status as a going concern or which significantly affected
Company's business operations.

45.    Details of application made or any proceeding
pending under the Insolvency and Bankruptcy
Code, 2016 during the year along with their status
as at the end of the FY’25.

During FY'25, there was no application made and no
proceeding was pending against the company, under the
Inslvency and Bankruptcy Code, 2016.

46.    Details of one-time settlement with banks/
financial institutions

The Company didn't make one time settlement with banks/
financial institutions during the financial year.

47.    Material changes and commitments affecting
financial position between the end of the financial
year and date of the report

There have been no material changes and commitments
which affect the financial position of the Company that have
occurred between the end of the financial year to which the
financial statements relate and the date of this report.

48.    Directors’ Responsibility Statement

Pursuant to the requirement under Section 134 of
the Companies Act, 2013, with respect to Directors'
Responsibility Statement, it is hereby confirmed that:

a)    In the preparation of the annual accounts, the
applicable accounting standards were followed and
there was no material departures from the same;

b)    The Directors had selected such accounting policies
and applied them consistently and made judgments

and estimates that were reasonable and prudent, so
as to give a true and fair view of the state of affairs of
the Company as at 31^st March, 2025 and of the profit of
the Company for the year ended on that date;

c)    The Directors had taken proper and sufficient care
for the maintenance of adequate accounting records
in accordance with the provisions of the Companies
Act, 2013, for safeguarding the assets of the Company
and for preventing and detecting fraud and other
irregularities;

d)    The Directors had prepared the annual accounts of the
Company on a going concern' basis;

e)    The Directors had laid down internal financial controls
which were being followed by the Company and that
such internal financial controls were adequate and
were operating effectively; and

f)    The Directors had devised proper systems to ensure
compliance with the provisions of all applicable laws
and that such systems are adequate and operating
effectively.

49.    Annual Return

Pursuant to Section 134(3)(a) read with Section 92(3) of the
Companies Act, 2013 Annual Return of the Company is placed
at https://ongcindia.com/web/eng/investors/annual-return

50.    Particulars of Employees

Your Company being a Government Company, the provisions
of Section 197 of the Companies Act, 2013 and relevant
Rules issued thereunder are not applicable.

The terms and conditions of the appointment of Whole-time
Directors are subject to the applicable guidelines issued by
the Department of Public Enterprises (DPE), Government
of India.

51.    Audit Committee

In compliance with Section 177(8) of the Companies Act,
2013 and Regulation 18 of SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 and DPE
Guidelines on Corporate Governance, 2010, the details
regarding Audit Committee is provided under Corporate
Governance Report which forms part of Annual Report.

There was no instance during FY'25, where the Board had
not accepted any recommendation of the Audit Committee.

52.    Vigil Mechanism:

Your Company has established Whistle Blower Policy/
Vigil Mechanism to report genuine concerns about ethical
behaviour, actual or suspected fraud, violation of Code of
conduct and also instances of leak of unpublished price
sensitive information. The said vigil mechanism provides for
adequate safeguards against victimization of persons who
use the mechanism and has provision for direct access to
the Chairperson of the Audit Committee in appropriate or
exceptional cases.

Policy of the Company may be accessed at
https://ongcindia.com/web/eng/investors/policies

53. Vigilance Functions:

Your Company has a full-fledged Vigilance Department
headed by Chief Vigilance Officer. The Department operates
on the guidelines of Central Vigilance Commission on
Vigilance management in Public Sector Enterprises and is
guided further by instructions issued by the Department
of Personnel and Training and MoP&NG from time to time.
Vigilance Department of your Company is now ISO 9001:2015
compliant and also holder of prestigious Anti Bribery
Management System (ABMS) 37001 : 2016 certification from
Intercert, USA.

Complaints are handled as per the complaint handling
policies stipulated in Vigilance Manual issued by the Central
Vigilance Commission. The prime focus of Vigilance activities
has been Preventive and Participative Vigilance by having
regular interaction with employees and other stakeholders
to spread awareness among the masses.

Details of vigilance cases are as under:

54.    Reporting of Fraud:

No Fraud has been reported during 2024-25.

55.    Risk Management Policy and Implementation:

The Company has a Board approved Risk Management
Policy. Risk framework and Risk portfolio are periodically
monitored by the Risk Management Committee, Audit
Committee and the Board.

56.    Auditors

The Statutory Auditors of your Company are appointed by the
Comptroller and Auditor General of India (CAG). There were
5 Practicing Chartered Accountants firms/ Limited Liability
Partnership Firms namely Talati & Talati LLP, V Sankar
Aiyar & Co, J Gupta & Co LLP, Laxmi Tripti & Associates
and Manubhai & Shah LLP, who were appointed as Joint
Statutory Auditors of the Company for FY'25.

The Statutory Auditors have been paid a total remuneration
of '65.65 Million towards audit fees, certification and other
services. The above fees are inclusive of applicable service
tax/ GST but exclusive of re-imbursement of travelling and
out of pocket expenses.

Auditors' Report on the Accounts

Statutory Auditors Reports and the comments of CAG on
standalone and consolidated accounts of the Company are
placed along with respective financial statements for FY'25.
There is no qualification in the Statutory Auditors Reports on
the Financial Statements of the Company for FY'25.

Further, Comptroller & Auditor General of India (C&AG) in its
Supplementary Audit under Section 143(6) read with Section
129(4) of the Companies Act, 2013, has provided comments
in Consolidated and Standalone Financial Statements for
FY'25. The comments of Comptroller & Auditor General of
India (C&AG) and management reply thereto form part of
this Report is annexed as Annexure - F.

57.    C&AG Audit on other matters:

The C&AG conducts audits of various nature viz. Performance
Audit, Thematic Audit, Compliance Audit, Follow-up
Audits, etc.

As on 31^st March 2025, there are twenty-four published C&AG
reports/paras pending at various stages. These are related
to Payment of Stagnation Relief, Non-recovery of Perquisite
Tax, Loss due to Award of Contract to an incompetent party
based on forged documents, Non-receipt of credit and loss
of Interest due to delay in installation of Availability Based
Meters (ABT), Payment towards Encashment of Half Pay
Leave/Earned Leave, Crude Oil Production measurement
and reporting system in ONGC, IT Audit on FI-CO Module
of SAP, Loss of Interest due to Inordinate Delay in Receipt
of Share of Gas Transportation Charges, Delay in Appraisal
and Non-Monetisation of the Discoveries in KG-DWN-98/2
Block, Non Achievement of objective of Acquiring Coal Bed
Methane (CBM) Blocks, Failure to obtain the Share of Cost of
Immediate Support Vessels purchased by ONGC for Security
of Offshore Assets from private Exploration and Production
(E&P) Operators, Non-recovery of pending Cash Calls, Loss
of Returns to ONGC due to Adoption of Financing Mechanism
to Maintain the Status of OPaL as a Non-Public Sector
Undertaking, Avoidable Payment of Equipment Standby
Rentals, Loss of revenue due to sale of crude oil containing
Basic Sediments & Water above the norms as per sales
agreement, Loss due to acquisition of Low-lying marshy
land and delay in putting up of land for its intended use,
Undue benefit to the executives in the form of running and
maintenance expenses of vehicle, Water Injection Operations
in Western Offshore, Loss due to Flaring of High Pressure
Gas, Management of Spectrum assigned on administrative
basis to Government Departments/ Agencies, Information
Systems Audit of the Plant Maintenance Module of SAP
ERP in ONGC, Imprudent decision to invest in a block and
infructuous expenditure due to subsequent relinquishment
of the block, Imprudent decision of accepting the Turbine
Generator materials and delay in its commissioning ,
Persistent delays in clearance of imported consignments
led to absorption of demurrage charges.

These Audit Paras have been suitably replied and the same
are under review of MoP&NG or C&AG.

58.    Maintenance of Cost Records and details of Cost
Auditor(s):

The Company is maintaining the Cost records as specified by
the Central Government under sub-section (1) of section 148
of the Companies Act, 2013.

There were 6 cost accountants firms, namely M/s. ABK &
Associates, M/s. Sanjay Gupta & Associates, M/s. Rao, Murthy
& Associates, M/s Shome and Banerjee, M/s Dhanajay V
Joshi & Associates and M/s Dewanji & Co. appointed by
the Board as Joint Cost Auditors of the Company for FY'25.
Necessary cost audit report shall be prepared by the said
auditors and filed with the Central Government as per
requirements under the Companies Act, 2013.

59.    Secretarial Audit

Your Company has engaged M/s SGS Associates LLP,
Practicing Company Secretaries as Secretarial Auditors for
FY'25. Secretarial Audit Report is annexed as Annexure - G.

Reply of management to the qualifications made in the
Secretarial Audit Report are as under:

Composition of Board & Board Committees:

ONGC being a Government Company, the power of
appointment of Directors (including Independent Directors
- IDs) is vested with the Govt. of India (Got) in terms of
provisions in Articles of Association (AoA) and the Company
pursued for appointment of requisite number of IDs. As
adequate number of Independent Directors were not
available, constitution of Board and Board Committees,
namely Audit, Nomination and Remuneration, Stakeholder
Retationship and Corporate Sociat Responsibitity
Committees did not meet the composition requirements for
the period as mentioned in the Secretariat Audit report.

The Company appointed three IDs on 28^th March 2025 and
subsequently Board Committee(s) were also re-constituted

60.    Changes in Board of Directors and Key Managerial
Personnel

Changes in the Board/ Key Managerial Personnel of the
Company during the year and up-to date of the Report are
as under:

•    Mr. K. C. Ramesh ceased to be CFO of the Company w.e.f.
1^st June 2024, consequent upon his superannuation

•    Mr. Devendra Kumar was appointed as Chief Financial
Officer (CFO), Key Managerial Personnel of the
Company during the period of 20^th June, 2024 to
2^nd July, 2024.

•    Mr. Vivek Chandrakant Tongaonkar was appointed
as Director (Finance) and CFO of the Company w.e.f.
2^nd July, 2024.

•    Mr. Arunangshu Sarkar was appointed as Director
(Strategy & Corporate Affairs) of the Company with
effect from 15^th September, 2024.

•    Mr. Syamchand Ghosh, Mr. Vysyaraju Ajit Kumar Raju,
Mr. Manish Pareek and Ms. Reena Jaitty ceased to be
Independent Directors of the Company with effect from
8^th Novmber, 2024 upon completion of their tenure of
three years.

•    Dr. Prabhaskar Rai, ceased to be Independent Director
of the Company with effect from 27^th December, 2024
upon completion of his tenure of three years.

•    Mr.    Om Prakash Singh,    ceased to    be Director

(Technology & Field Services) of the Company w.e.f.
1^st January, 2025 consequent upon attaining the age of
superannuation.

•    Upon completion of tenure of three years, Dr. Madhav
Singh, ceased to be Independent Director of the
Company w.e.f. from 24^th January.2025.

•    Mr.    Vikram Saxena was appointed    as Director

(Technology and Field Services) of the Company w.e.f.
6^th March, 2025.

•    Mr.    Bhagchand Agarwat,    Ms. Reena    Jaitty and

Mr. Manish Pareek were appointed as Independent
Directors of the Company w.e.f. 28^th March, 2025.

•    Mr. Om Prakash Sinha was appointed as Director
(Exptoration) on 14^th Juty, 2025

The Board ptaced on record its appreciation for
commendabte contribution made by Mr. Om Prakash Singh
and Independent Directors during their tenure on the Board
of your Company.

61.    Declaration by Independent Directors:

The Company has received dectaration from Independent
Directors confirming that they met the criteria prescribed
under the provisions of Companies Act, 2013 and SEBI
(Listing Obtigations and Disctosure Requirements)
Regutations, 2015.

62.    Acknowledgement

Your Directors are highty gratefut for att the hetp, guidance
and support received from the Ministry of Petroteum and
Naturat Gas, Ministry of Finance, DPE, MCA, MEA, and other
agencies in Centrat and State Governments. Your Directors'
acknowtedge the constructive suggestions received from
Auditors and Comptrotter and Auditor Generat of India and
are gratefut for their continued support and cooperation.

Your Directors thank att stakehotders, business partners
and att members of the ONGC Famity for their faith, trust
and confidence reposed in the Board. Your Directors wish to
ptace on record their sincere appreciation for the unstinting
efforts and dedicated contributions put in by the ONGCians
at att tevets to ensure that the Company continues to sustain,
grow and excet.

On behatf of the Board of Directors

Sd/-

Ptace: New Dethi    (Arun Kumar Singh)

Date: 07.08.2025    Chairman & CEO