MUMBAI: India’s largest oil and gas producer ONGC on Monday unveiled a Rs 1 lakh crore investment plan to achieve net-zero operational green house gas emission by 2038 without letting up on its primary task of pumping up hydrocarbon volume to meet the country’s rising energy demand.
The announcement came even as the state-run explorer reversed in 2022-23 the decline in production and aims to raise output with ongoing investments of $7 billion and $5 billion in west and east coasts, respectively.
“After drawing up our plans, we feel that 2038 will be the year by when when ONGC will be Scope-I and II net-zero compliant. Scope-III is of course a little far.
