ONGC receives excise duty demand of ₹26.76 crore for Invenire Petrodyne’s participating interest

New Delhi, January 8, 2026 – Oil and Natural Gas Corporation Limited (ONGC) has received an order from the Commissioner of CGST & Central Excise, Surat, regarding Special Additional Excise Duty (SAED) for the period 1 July 2022 – 31 July 2023.

The demand pertains to the 10% Participating Interest (PI) of M/s Invenire Petrodyne Ltd in the Pre NELP Block CB-OS02 joint venture. The total excise demand amounts to ₹26.76 crore, with an equivalent penalty of ₹26.76 crore, along with applicable interest.

ONGC clarified that the SAED attributable to its own 50% PI, as well as 40% held by M/s Vedanta Ltd. (the operator), has already been paid. The impugned demand relates solely to the 10% PI of Invenire Petrodyne Ltd.

As ONGC is a non-operator in the block, the company maintains that it does not qualify as a “manufacturer” under the Central Excise law and therefore cannot be held liable for the payment of SAED, interest, or penalty related to Invenire Petrodyne’s stake.

The company further stated that the order is being reviewed and an appeal will be filed with the appropriate appellate authority within the stipulated timeline. ONGC also noted that the order will have no significant impact on the company’s financials or operations, given its scale and size.

The disclosure was made under Regulation 30 of SEBI (LODR) Regulations, 2015, ensuring compliance with market reporting requirements.