ONGC Nehru Cup 2007 will be played under flood-light at Ambedkar Stadium, New Delhi from 17th to 29th August 2007. Apart from India, national teams from Syria, Krygyzstan, Bangladesh and Cambodia have confirmed their participation in this tournament hosted by petroleum major Oil and Natural Gas Corporation Ltd. The tournament will be played in round robin basis with the top two teams qualifying for the finals. Total prize money for the tournament is US$ 1, 00,000.

Mangalore, 8th August 2007. Mangalore Refinery & Petrochemical Ltd (MRPL) has won the prestigious Oil Industry Safety Award for the year 2006-07, conferred by the Oil Industry Safety Directorate, Ministry Of Petroleum & Natrual Gas(MoP&NG), GoI. MRPL has been adjudged second in the refineries category and this marks the entry of MRPL in the OISD panel of Awards.

A new chapter is added in the history of ONGC on 5th August 2007, when Mr. R S Sharma, CMD, ONGC laid the foundation stone of ONGC Hydrocarbon Processing Plant at Dahej. The plant, having project cost of Rs.653.96 crores, is the first LNG processing plant in the world and also the first project of ONGC in Special Economic Zone (SEZ). The plant, spread over an area of 50 hectare, has a present capacity of processing 5 MMTPA hydrocarbon and the target completion date is 30th May, 2008.

The Logo of the ONGC Nehru Cup 2007, which will see six international football teams vying for the title, was launched in New Delhi on 3rd August 2007. Apart from India, national teams from Syria, Krygyzstan, Bangladesh and Cambodia have confirmed their participation in this tournament hosted by petroleum major Oil and Natural Gas Corporation Ltd. (ONGC), to be organized at Dr. Ambedkar Stadium, Delhi Gate, New Delhi, under flood light during 17 – 29 August, 2007.

ONGC crossed yet another significant milestone when Centre for Military Airworthiness and Certification (CEMILAC), Bangalore, accorded airworthiness approval for Aviation Turbine Fuel (ATF) processed at Hazira Plant of ONGC on July 27, 2007. With this certification, ONGC will be able to sell its ATF for use in Indian Military Aircrafts.

The performance scorecard of petroleum major Oil and Natural Gas Corporation Ltd. (ONGC) relating to Health, Safety and Environment Management (HSE), has been rated high by the Hon’ble Union Minister of State, Ministry of Environment & Forests, Mr. Namo Narain Meena as well as Director General of TERI Dr. R K Pachauri.

Highlights of Q1 performance of ONGC for 2007-08 (FY08)

ONGC signed a MoU with GAIL on 24th July 2007, to pool respective resources and synergize strengths in respect of early production, transportation and marketing of Gas discovered in KG and Mahanadi Basins.

The Board of MRPL in its meeting held on 23rd July 2007 at New Delhi has approved the Financial Results for the first quarter (April-June) of FY 2007-08

ONGC CMD Mr. R S Sharma, who is the President of the Indian Global Compact Society, said that the Society will push for proactive role of Indian corporates for adoption and implementation of corporate citizenship practices.

1. The G1 field is located 28 km offshore in water depths ranging from 135 to 500 meters, while the GS 15, a shallow-water field is located at 5 km from shore in the Krishna Godavari Off shore Basin. Integrated development of these fields envisages production of 0.982 MMT of Oil & 5.92 BCM of gas over a period of 15 years.

ONGC, through its subsidiary MRPL and Tatipaka refinery, will supply products to HPCL.

Oil and Natural Gas Corporation Ltd. (ONGC) has moved up 33 notches to 369, up from 402 last year, in the recently published 2007 edition of Fortune Global 500 list.

One ONGC-owned Offshore Supply Vessel Samudrika-10 was on standby mode due to bad weather waiting for transfer of cargo to ONGC’s drilling rig Sagar Gaurav, operating in Bassein & Satellite field of ONGC. It started taking water and sank around 12.30 hrs on 9th July, 2007. Samudrika-10 was operating in the sea at about 56 nautical miles from Nhava Supply Base of ONGC at the time of the incident. The sea conditions were reported at the time of incident as 3-4 meters swell, and 30-35 Knots wind speed.

An ONGC-owned Offshore Supply Vessel Samudrika-10, operating in Bassein & Satellite field of ONGC started taking in water and sank around 1230 hours on 9th July 2007. The vessel is operated by M/s SICAL under an Operation & Maintenance contract. Out of the 14 manifested crew members, nine have been rescued. All out efforts are being made with the help of one chopper and three vessels in search and rescue operations. Samudrika-10 was operating in the sea at 56 nautical miles from Nhava Supply Base of ONGC at the time of the incident.

Mangalore Refinery & Petrochemicals Ltd. (MRPL), a PSU under the Ministry of Petroleum and Natural Gas & a subsidiary of Oil and Natural Gas Corporation Ltd. (ONGC), has entered into a contract with State Trading Corporation (STC) of Mauritius to supply petroleum products to Mauritius.

Oil and Natural Gas Corporation Ltd., India’s flagship explorer and world’s number one E&P company, has tied up with Norwegian Deepwater expert Norsk Hydro Produksjon AS, to develop Deepwater Oil & Gas blocks off the Indian coasts.

Despite heavy odds like huge subsidy payout, high attrition rate, sky rocketing Rig rates and uncertain gas pricing, ONGC, the oil juggernaut is rolling ahead with impressive financial performance year after year.

We wish to clarify on some incomplete reporting on the “Development of the Rajasthan Refinery”, by a few newspapers.

ONGC Board in its 168th meeting held today has approved Annual Financial Results for FY07, which signify various highs which are as follows:

The ONGC Board in its 167th meeting held on June 7, 2007 approved reconstruction of NQO platform in Mumbai Offshore, which comprise of NQO, NQD and NQG platforms. The cost of revamping is of the order of Rs.233 crore.

The 167th ONGC Board Meeting was held in New Delhi on June 7, 2007. The Board has taken note of the following major highlights:

Oil and Natural Gas Corporation Ltd. (ONGC), the numero uno Global E&P company from India, and Petroleo Brasileiro S.A. (Petrobras), 14th largest Energy Company and a pioneer in Deepwater exploration, today announced that they have reached agreement on swapping of interests in offshore blocks in India and Brazil. This announcement marks an increased presence of ONGC Videsh Limited’s (OVL) presence in Brazil and the entry of Petrobras into India.

The ONGC Super Cup – as a spectacular finale of the Indian competitive soccer - will be played at the HUDA Sports Complex at Gurgaon, on 27th May 2006, between Dempo (Winner of National Football League) and Mohunbagan (Winner of Federation Club).