Oil and Natural Gas Corporation Limited (ONGC) is a Public Sector Undertaking (PSU) of the Government of India, under the administrative control of the Ministry of Petroleum and Natural Gas. It is India's largest oil and gas exploration and production company. It produces around 70% of India's crude oil (equivalent to around 25% of the country's total demand) and around 60% of its natural gas. With a market capitalisation of over INR 2 trillion, it is one of India's most valuable publicly-traded companies.
- ONGC is ranked as the Top Energy Company in India, Fifth in Asia and 21st globally as per Platts Top 250 Global Energy Rankings; Maintains place as World's Third ranked E&P Company in the list.
- Ranked 21st among global Oil and Gas Operations industry in Forbes Global 2000 list of the World's biggest companies for 2014; Ranked 176 in the overall list - based on Sales (US$ 29.6 billion), Profits (US$ 4.5 billion), Assets (US$ 53.8 billion) and Market Value (US$ 46.4 billion).
- Only Indian energy major in Fortune's Most Admired List 2014 under 'Mining, Crude Oil Production' category (No. 7 worldwide - Up 3 places from previous year)
- Ranked 26 in 'Transparency in Corporate Reporting' among the world's 124 largest listed companies published by Transparency International (Up from 39 in 2012)
- Ranked 217 in the Newsweek Green Rankings World's Greenest Companies 2014 (up from 386 in 2012)
- ONGC won Petrofed Oil & Gas Industry Awards 2011 in three categories - "Exploration & Production: Company of the Year", "Project Management (above Rs. 2000 crore): Company of the Year" and "Innovator of the Year: Team (Won by IOGPT)"
- ONGC bagged Oil Industry Safety Directorate (OISD) awards for "Best Overall Safety Performance of Oil and Gas Onshore Assets" and "Most Consistent Safety Performer Award" (won by Rajahmundry Asset of ONGC) for the year 2011-12. In addition, JV operation at Panna gas field between ONGC, BG and Reliance, operated by BG India won the OISD award for "Best Production Platform – Pvt/JV Companies"
- 'Best Employer' award and 'Voice of Employee' award at the Aon Hewitt Best Employers –India 2013
- Golden Peacock Award for Corporate Social Responsibility for 2013. ONGC's structured approach in delivering tailored CSR projects for communities around its operational areas got it the coveted award.
- Randstad Award-2013 for the Most Attractive Employer in the Energy Sector in India
- Gold Trophy of SCOPE Meritorious Award in the category of Corporate Social Responsibility and Responsiveness for 2011-12
- 'Best Enterprise Award' in the Maharatna and Navratna category at WIPS Award of excellence held on February 11, 2014 at Kolkata. ONGC bagged this award third time in a row.
- ONGC's foreign operations arm OVL bagged the best PSU award in the oil and gas sector at the Dainik Bhaskar India Pride Awards on December 19, 2013
- Human Resource Management Excellence Award in the Navratna and Maharatna category at the PSE Excellence Awards 2013
- ABP 'Global CSR Excellence and Leadership Awards' 2013 - ONGC was the solitary winner in the category of 'Best CSR Practices in the Areas of Health'.
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.
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.
ONGC Videsh, a Miniratna Schedule “A” Central Public Sector Enterprise (CPSE) of the Government of India under the administrative control of the Ministry of Petroleum & Natural Gas is the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), the flagship national oil company (NOC) of India. The primary business of ONGC Videsh is to prospect for oil and gas acreages outside India, including exploration, development and production of oil and gas.
ONGC Videsh was incorporated as Hydrocarbons India Pvt. Ltd. on 5 March 1965 to carry out exploration and development of the Rostam and Raksh oil fields in Iran and undertaking a service contract in Iraq. The company was rechristened as ONGC Videsh Limited on 15th June, 1989 with the prime objective of marketing the expertise of ONGC abroad. The nineties saw the Company engaged in limited exploration activities in Egypt, Yemen, Tunisia and Vietnam.
In its new avatar as ONGC Videsh, the company from mid-nineties re-oriented its focus on acquiring quality overseas oil and gas assets. ONGC Videsh, which had one asset in year 2000, gradually succeeded in competing with the best in the international arena and could conclude many large transactions across the world in subsequent years. Presently, ONGC Videsh owns Participating Interests in 33 oil and gas assets in 16 countries and contributes to 14.5% and 8% of oil and natural gas production of India respectively. In terms of reserves and production, ONGC Videsh is the second largest petroleum Company of India, next only to its parent ONGC.
ONGC Videsh’s oil and gas operations produced 8.36 MMT of oil and oil equivalent gas in 2013-14 as against 0.252 MMT of O+OEG in 2002-03. ONGC Videsh’s overseas cumulative investment up to 31st March, 2014 has crossed USD 22 billion.
- 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
- The Company operates with 27 Seismic crews, manages 250 onshore production installations, 215 offshore installations, 77 drilling (plus 31 hired) and 57 work-over rigs (plus 25 hired), owns and operates more than 28,139 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 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.
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.
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.