New Delhi, Aug. 31 -- Oil and Natural Gas Corporation (ONGC) plans to invest around Rs 1 lakh crore over five years in deepwater and multi-deepwater exploration as it steps up efforts to identify new hydrocarbon resources, while the company reported three new hydrocarbon discoveries in its operated offshore acreage during FY26, Arun Kumar Singh, Chairman and CEO, ONGC, said on Monday.

In his Chairman's Speech at ONGC's 33rd Annual General Meeting (AGM), Singh said, "Three new hydrocarbon discoveries were notified in its operated offshore acreage."

Singh said testing concluded during FY26 established 55 wells as hydrocarbon-bearing, including wells drilled in previous years.

During FY26, ONGC acquired 957.25 lakh line kilometres (LKM) o...