ONGCOil & Natural Gas Corporation Limited•17 July 2026

ONGC Completes India's First Geothermal Wells

Oil & Natural Gas Corporation Limited Announces Completion of Two Deep Geothermal Wells at Puga

Introduction

On 17 July 2026, Oil & Natural Gas Corporation Limited (ONGC) issued a press release highlighting the successful completion of two deep geothermal wells (GT #02 and GT #03) at the Puga Geothermal Project in Ladakh. The milestone was marked by a ceremony attended by the Hon’ble Lieutenant Governor of Ladakh and senior officials.

Key Highlights

Completion of Geothermal Wells

Wells Completed: GT #02 and GT #03, drilled by ONGC Energy Centre.
Location: Puga Geothermal Project, Ladakh.
Significance: First demonstration‑scale geothermal power project in India, paving the way for round‑the‑clock, clean energy generation in a remote, high‑altitude region.

Strategic Importance

Energy Security: Enhances reliable power supply during Ladakh’s severe winters and reduces reliance on conventional fuels.
Socio‑Economic Benefits:
- Supports space heating, greenhouse cultivation, year‑round agriculture, food processing, and geotourism.
- Contributes to Ladakh’s goal of becoming a carbon‑neutral region.
National Impact: Strengthens India’s clean‑energy portfolio, advances technological self‑reliance, and aligns with the country’s Net‑Zero and long‑term energy‑security objectives.

Collaboration Framework

Partners: ONGC Energy Centre, the Union Territory Administration of Ladakh, and LAHDC‑Leh.
Collaboration Term: Five‑year agreement renewed in June 2026.

Official Remarks

Hon’ble Lieutenant Governor (Shri Vinai Kumar Saxena): Emphasized the project’s national and regional significance and praised the ONGC team.
ONGC Representative (Director – Technology and Field Services, Shri Vikram Saxena): Reaffirmed ONGC’s commitment to innovation, energy security, and a sustainable future for Ladakh and India.

Outlook

Future Applications: Beyond electricity, the geothermal resource is expected to enable heating, agricultural, and tourism activities, fostering sustainable livelihoods in Ladakh.
Long‑Term Vision: The project is positioned as a cornerstone for expanding India’s geothermal capabilities and supporting the nation’s transition to a low‑carbon energy mix.

For further information, contact ONGC Corporate Communications, New Delhi – Phone: +91‑11‑26754013, Email: ongcdelhicc@ongc.co.in.

Stock Impact Forecast

PreviewMedium Confidence

▲Bullish

ONGC's completion of two geothermal wells is likely to be seen as a positive step into clean energy, nudging the share price slightly higher. The move aligns with India's net‑zero goals and could add a new revenue stream, but the impact will be modest.

Forecast from comparable, historic events. Not investment advice.

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Introduction

Key Highlights

Completion of Geothermal Wells

Wells Completed: GT #02 and GT #03, drilled by ONGC Energy Centre.

Location: Puga Geothermal Project, Ladakh.

Significance: First demonstration‑scale geothermal power project in India, paving the way for round‑the‑clock, clean energy generation in a remote, high‑altitude region.

Strategic Importance

Energy Security: Enhances reliable power supply during Ladakh’s severe winters and reduces reliance on conventional fuels.

Socio‑Economic Benefits:

Supports space heating, greenhouse cultivation, year‑round agriculture, food processing, and geotourism.
Contributes to Ladakh’s goal of becoming a carbon‑neutral region.

National Impact: Strengthens India’s clean‑energy portfolio, advances technological self‑reliance, and aligns with the country’s Net‑Zero and long‑term energy‑security objectives.

Collaboration Framework

Partners: ONGC Energy Centre, the Union Territory Administration of Ladakh, and LAHDC‑Leh.

Collaboration Term: Five‑year agreement renewed in June 2026.

Official Remarks

Hon’ble Lieutenant Governor (Shri Vinai Kumar Saxena): Emphasized the project’s national and regional significance and praised the ONGC team.

ONGC Representative (Director – Technology and Field Services, Shri Vikram Saxena): Reaffirmed ONGC’s commitment to innovation, energy security, and a sustainable future for Ladakh and India.

Outlook

Future Applications: Beyond electricity, the geothermal resource is expected to enable heating, agricultural, and tourism activities, fostering sustainable livelihoods in Ladakh.

Long‑Term Vision: The project is positioned as a cornerstone for expanding India’s geothermal capabilities and supporting the nation’s transition to a low‑carbon energy mix.

For further information, contact ONGC Corporate Communications, New Delhi – Phone: +91‑11‑26754013, Email: ongcdelhicc@ongc.co.in.