- Only Indian energy major in Fortune's Most Admired List 2012 under 'Mining, Crude Oil Production' category.
- It is ranked 171th in Forbes Global 2000 list of the World's biggest companies for 2012 based on Sales (US$ 26.3 billion), Profits (US$ 5 billion), Assets (US$ 51 billion) and Market Capitalization (US$ 46.6 billion).
- ONGC has been ranked 39th among the world's 105 largest listed companies in 'transparency in corporate reporting' by Transparency International making it the most transparent company in India.
ONGC is India's Most Valuable Public Sector Enterprise
- The Company won Petrofed Oil & Gas Industry Awards 2011 in three categories - "Environmental Sustainability: Company of the Year", "Human Resource Management: Company of the Year" and "Innovator of the Year: Team (Won by IOGPT)".
- It was bestowed with "Most Attractive Employer" Award in Randstad Awards 2011
- Won "Golden Peacock Award for Sustainability" for the year 2011
- Awarded with the Gold Trophy of SCOPE Meritorious Award for "Environmental Excellence & Sustainable Development" for the Year 2010-11 by former President Smt. Pratibha Devisingh Patil
- Anointed "Outstanding PSU of the Year" at AIMA Managing India Awards 2012
- Awarded the Best overall Performance PCRA Award in the Upstream Sector (Oil & Gas) for 3rd consecutive year
- Awarded the "ICSI National Award for Excellence in Corporate Governance for 2011"- Certificate of Recognition
- Awarded NIPM National Award for Best HR Practices – 2011
- Adjudged amongst 20 Top Companies for Leaders 2011 in Aon Hewitt Awards
- "Best Enterprise Award" for the organization in the Maharatna and Navaratna Category at the 22nd National Meet of Women in Public Sector (WIPS)
- It was bestowed with Safety Innovation Award 2011 in the Oil & Gas sector for innovative safety measures
- OVL Honoured with SCOPE Excellence Award for Excellence and Outstanding Contribution to the Public Sector Management
ONGC Represents India's Energy Security Through its Pioneering Efforts
ONGC is the only fully–integrated petroleum company in India, operating along the entire hydrocarbon value chain. It has single-handedly scripted India's hydrocarbon saga. Some key pointers:
- ONGC has discovered 6 out of the 7 producing basins in India:
- It has 7.59 billion tonnes of In-place hydrocarbon reserves. It has to its credit more than 320 discoveries of oil and gas with Ultimate Reserves of 2.69 Billion Metric tonnes (BMT) of Oil Plus Oil Equivalent Gas (O+OEG) from domestic acreages.
- It has cumulatively produced 851 Million Metric Tonnes (MMT) of crude and 532 Billion Cubic Meters (BCM) of Natural Gas, from 111 fields.
- ONGC has won 121 out of a total 235 Blocks (more than 50%) in the 8 rounds of bidding, under the New Exploration Licensing Policy (NELP) of the Indian Government.
- ONGC's wholly-owned subsidiary ONGC Videsh Ltd. (OVL) is the biggest Indian multinational, with 30 Oil & Gas projects (9 of them producing) in 15 countries.
- Produces over 1.24 million barrels of oil equivalent per day, contributing over 64% of India's domestic production. Of this, over 75% of crude oil produced is Light & Sweet.
- The Company holds the largest share of hydrocarbon acreages in India (51% in PEL Areas & 67% in ML Areas).
- ONGC possesses about one tenth of the total Indian refining capacity.
- ONGC has a well-integrated Hydrocarbon Value Chain structure with interests in LNG and product transportation business as well.
- A unique organization in world to have all operative offshore and onshore installations (403) accredited with globally recognized certifications.
- All crudes are sweet and most (76%) are light, with sulphur percentage ranging from 0.02-0.10, API gravity range 26°-46° and hence attract a premium in the market.
- Strong intellectual property base, information, knowledge, skills and experience
- Maximum number of Exploration Licenses, including competitive NELP rounds. ONGC has bagged 121 of the 235 Blocks (more than 50%) awarded in the 8 rounds of NELP.
- ONGC owns and operates more than 26,600 kilometers of pipelines in India, including sub-sea pipelines. No other company in India operates even 50 per cent of this route length.
Perspective Plan 2030 (PP2030)
PP2030 charts the roadmap for ONGC's growth over the next two decades. It aims to double ONGC's production over the plan period with 4-5 per cent growth against the present growth rate of 2 percent. In physical terms the aspirations under Perspective Plan 2030 aims for -
- Production of 130 mmtoe of oil and oil equivalent gas (O + OEG) per year and accretion of over 1,300 mmtoe of proven reserves.
- Grow ONGC Videsh Limited (OVL) six fold to 60 mmtoe of international O+OEG production per year by 2030.
- More than 20 mmtoe of O+OEG production per year in India coming from new unconventional sources such as shale gas, CBM, deepwater and HPHT (High Pressure & High Temperature) reservoirs.
- Over 6.5 GW power generation from nuclear, solar and wind and 9 MTPA of LNG.
- Scaling up refining capacity to over 20 MMTPA and targeted investments to capture downstream integration in petrochemicals.
Sourcing Equity Oil Abroad
- The company now has participation in 30 E&P projects in 15 countries namely Vietnam (1 project), Russia (2 projects), Sudan (2 projects), South Sudan(2 projects), Iraq (1 project), Libya (1 project), Myanmar (2 projects), Syria (2 projects), Cuba (2 projects), Brazil (4 projects), Nigeria (1 project), Colombia (6 projects), Venezuela (2 projects) and Kazakhstan (1 project). Out of 30 projects, ONGC Videsh is Operator in 9 projects and Joint Operator in 7 projects.
- OVL continued to maintain its robust growth with production of 6.214 MMT of Crude Oil and 2.539 BCM of Gas during 2011-12. Its proved reserves (1P) as on 1st April 2012 stood at 193.381 MTOE, which next to ONGC, is the second largest holding of proved oil and gas reserves by any Indian Company. OVL's share of total reserves (3P) of oil and oil equivalent gas as on 1st April 2012 was 425.941 MTOE. As on 31st March, 2012, the Reserves-to-Production (R/P) Ratio considering proved reserves was 22.09.
- Consolidated gross revenue of OVL increased from Rs.186.711 billion in 2010-11 to Rs.226.314 billion in 2011-12, up 21.2% and consolidated net profit from Rs.26.91 billion in 2010-11 to Rs.27.21 billion in 2011-12.
- OVL was accorded with Mini-Ratna Category-I status by Government of India during July 2011. Recently during September 2012, OVL has been upgraded from a Schedule "B" public enterprise to Schedule "A".
- OVL signed agreements with KazMunaiGas (KMG), the national oil company of Kazakhstan for acquisition of 25% participative interest in Satpayev exploration block in Kazakhstan. The agreement was signed on 16th April 2011 with KazMunaiGas in the presence of Dr. Manmohan Singh, Hon'ble Prime Minister of India and H.E. Nursultan Nazarbayev, President of Kazakhstan.
- OVL along with Petronas and Nilepet has signed a Transition Agreement on 13th January 2012 with the Government of RSS for the continuation of its right for petroleum exploration and exploitation in Block 5A. The partners of Block 5A have incorporated a new operating company SUDD Petroleum Operating Co. Ltd. (SPOC) registered in Mauritius on 7th March 2012. The block will now be jointly operated by all partners.
- OVL signed definitive agreements during September 2012 for the acquisition of Hess Corporation's 2.7213% participating interest in the Azeri, Chirag and the Deep Water Portion of Guneshli Fields in the Azerbaijan sector of the Caspian Sea ('ACG') and 2.36% interest in the Baku-Tbilisi-Ceyhan Pipeline ('BTC'), for US$ 1 Billion. ACG, which is located in the south Caspian Sea about 95 km off the coast of Azerbaijan, is the largest oil and gas field complex in Azerbaijan and is one of the largest producing oil fields in the world with average daily production from the field around 700,000 bopd of crude oil.
- OVL's strategic objective of sourcing 20 million tonnes of equity oil abroad per year is likely to be fulfilled by 2018. As per 'Perspective Plan 2030', OVL is eyeing a six fold increase in production by 2030; from about 9 MTOE in current fiscal to 60 MTOE per annum by the year 2030.
ONGC Videsh Limited (OVL) is operating in 15 countries with 30 projects with cumulative investment worth over USD 15 billion, to source equity oil & gas for energy security of the country. Over the years OVL has emerged as the biggest Indian Multinational.
Frontiers of Technology
- State-of-the-art seismic data acquisition, processing and interpretation facilities
- Uses one of the Top Ten Virtual Reality Interpretation facilities in the world
- Alliances with Transocean, Schlumberger, Halliburton, Baker Hughes, IPR, Petrobras, Norsk, ENI and Shell
- One of the biggest ERP implementations in the Asia
Best In Class Infrastructure And Facilities
- The Company operates with 27 Seismic crews, manages 240 onshore production installations, 202 offshore installations, 77 drilling (plus 44 hired) and 58 work-over rigs (plus 30 hired), owns and operates more than 26,598 kilometers of pipeline in India, including 4,500 kilometers of sub-sea pipelines.
- ONGC has adopted Best-in-class business practices for modernization, expansion and integration of all Infocom systems.
ONGC group's turnover during 2011-12 has been Rs. 150,185 Crore with net profit of Rs. 28,144 Crore. ONGC paid the highest-ever dividend of Rs. 8,342 Crore. The Net Worth of ONGC Group of companies is Rs. 135,266 Crore.
- During 2011-12, the turnover of ONGC (on standalone basis) has been Rs. 76,887 Crore with net profit of Rs.25,123 Crore; the highest-ever despite sharing under-recovery of Rs.44,466 Crore to the Oil Marketing Companies (OMCs) as per the instructions of the Government of India. Net worth of ONGC (on standalone basis) has been Rs.1,11,784 Crore.
- OVL's consolidated gross revenue increased by 21% from Rs. 18,671 Crore during 2010-11 to Rs.22,637 Crore during 2011-12 and consolidated net profit increased by 1% from Rs. 2,621 Crore during 2010-11 to Rs. 2,721 Crore during 2011-12.
- The turnover of MRPL has been Rs.52,207 Crore, up 19% from Rs.43,800 Crore and net profit has been Rs.909 Crore during 2011-12.
The Road Ahead
ONGC looks forward to become an integrated energy provider, with:
- New Discoveries and fast track development
- Equity Oil from Abroad
- Downstream Value Additions & Forward Integration
- Leveraging state-of-the art technology and global best practices
- New Sources of Energy
- Production from small and marginal fields
- ONGC has taken structured initiatives to tap unconventional energy sources through unconventional gases like Coal Bed Methane (CBM), Underground Coal Gasification (UCG), Shale Gas and Gas Hydrates, or unconventional energy sources like wind, solar etc.
- "ONGC Energy Centre Trust", a dedicated centre created by ONGC for holistic research in non-conventional energy sources, has taken up three projects viz., Thermo-chemical reactor for Hydrogen, Geo-bio Reactors and Fuel Cells. ONGC has already commissioned a 50 MW Wind Farm in Gujarat and plan is afoot to set up another 100 MW Wind Farm in Rajasthan. ONGC has also set up 3 Solar Thermal Engines at Solar Energy Centre, Ministry of New and Renewable Energy (MNRE) campus at Gurgaon.
- ONGC's purchase of majority stake in equity in the ailing Mangalore Refinery & Petrochemicals Limited (MRPL), a stand-alone refinery of 9.69 MMT capacity in March 2003 is a standout testimony of ONGC's integrated business model. Besides adding that desired comfort to this Company in mitigating higher risk of E&P operation, this deal also set an example in the Indian business history where a PSU has taken over a joint stock company and turned it around in a record time of one year.
- Moving ahead, ONGC has taken structured initiatives towards value-multiplier integration projects like – Refinery, LNG, Petrochemicals, Power, SEZ, etc., to have presence in the entire hydrocarbon value-chain.
MOU performance rating of ONGC during the last four years is as given below:
Corporate Social Responsibility
In recognition of its role as a 'responsible leader', ONGC continues its quest to make positive, tangible difference in the lives of the vulnerable and disadvantaged. With a business paradigm that is based on an interconnected vision - of people's welfare, societal growth and environmental conservation, ONGC in 2011-12 continued to cater to the developmental needs across the following focus areas:
- Education including vocational courses;
- Health Care;
- Entrepreneurship (self-help & livelihood generation) schemes;
- Infrastructure support roads, bridges, Schools, hospitals in around our operational areas
- Environment protection, ecological conservation, promotion;
- Protection of heritage sites, UNESCO heritage monuments etc.;
- Promotion of artisans, craftsman, musicians, artists etc. for preservation of heritage, art & culture;
- Women's empowerment, girl child development, gender sensitive projects;
- Water management including ground water recharge;
- Initiatives for physically and mentally challenged;
- Sponsorship of seminars, conferences, workshops etc. and
- Promoting sports/sports persons; supporting agencies promoting sports / sports persons.
ONGC has taken structured initiatives towards Corporate Governance and its practices which evolve around multi-layered checks and balances to ensure transparency. Apart from the mandatory measures required to be implemented as a part of Corporate Governance, ONGC has gone the extra mile in this regard and has implemented the Whistle Blower Policy, Annual Report on working of the Audit & Ethics Committee, MCA Voluntary Guidelines on Corporate Governance, Enterprise-wide Risk Management (ERM) framework.
Health, Safety & Environment
ONGC has implemented globally recognized QHSE management systems conforming to requirements of ISO 9001, OHSAS 18001 and ISO 14001 at ONGC facilities and certified by reputed certification agencies at all its operational units. Corporate guidelines on incident reporting, investigation and monitoring of recommendations has been developed and implemented for maintaining uniformity throughout the organization in line with international practice.
During 2011-12, 20% reduction in incidents achieved, 131 environmental clearance (EC/TOR) obtained, 4 Lakh Ringal Bamboo Planted in Upper Himalayas, 25000 MT of oily waste treated using Bioremediation, 412 installations certified with QHSE, 240 operational units audited for HSE Performance, 130 employees trained on HUET, 14 HSE awareness programs completed.
Corporate Disaster Management Plan and guidelines have been developed for uniform disaster management all across ONGC. ONGC has also developed Occupational Health physical fitness criteria for employees deployed for offshore operations. Occupational Health module has now been populated on SAP system.
ONGC has vast pool of skilled and talented professionals – the most valuable asset for the company. 32,909 ONGCians (as on 31st March, 2012) dedicate themselves for the excellent performance of the company. ONGC extends several welfare benefits to the employees and their families by way of comprehensive medical care, education, housing and social security.