The document summarizes the history and operations of Oil and Natural Gas Corporation Ltd (ONGC) in India. It discusses how ONGC was formed through the amalgamation of various oil exploration companies before and after Indian independence. It then outlines ONGC's operations and discoveries from the 1950s to 1970s, its conversion to a statutory body, and challenges it now faces from increased competition and need for technological advancement. The document also summarizes ONGC's corporate strategic goals around increasing reserves and overseas sourcing, as well as its corporate rejuvenation campaign and mergers and acquisitions with other companies to strengthen operations.