The discovery of oil in ONGC's Krishna Godavari basin concurs with dreams of India's mission for an 'Aatmanirbhar Bharat'. : The discovery of oil in ONGC's Krishna Godavari basin concurs with dreams of India's mission for an 'Aatmanirbhar Bharat'. India announced its first oil extraction from a new discovery from state-owned ONGC's flagship deep-sea project in the Krishna Godavari Basin. With four operational wells and a target of 45,000 barrels per day by June, this project is set to contribute 7% to both crude oil and gas production in India.