India’s Oil & Natural Gas Corporation (ONGC) is planning to acquire newly built offshore jack-up rigs to help secure long-term drilling capacity in a rig market that has been battered by the coronavirus pandemic and low oil prices.


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ONGC has an ambitious offshore exploration programme over the next few years aimed at scaling up its hunt for domestic oil and gas resources in line with the Indian government's drive to reduce the nation’s dependence on oil imports.