ONGC Corporate Profile - The Largest Energy Company in India
This Public Enterprise Represents India's Energy Security Through its Pioneering Efforts.
Maharatna ONGC is the largest crude oil and natural gas Company in India, contributing around 70 per cent to Indian domestic production. Crude oil is the raw material used by downstream companies like IOC, BPCL, and HPCL (subsidiary of ONGC) to produce petroleum products like Petrol, Diesel, Kerosene, Naphtha, and Cooking Gas-LPG.
This largest natural gas company ranks 11th among global energy majors (Platts). It is the only public sector Indian company to feature in Fortune’s ‘Most Admired Energy Companies’ list. ONGC ranks 18th in ‘Oil and Gas operations’ and 183rd overall in Forbes Global 2000. Acclaimed for its Corporate Governance practices, Transparency International has ranked ONGC 26th among the biggest publicly traded global giants. It is most valued and largest E&P Company in the world, and one of the highest profit-making and dividend-paying enterprise.
ONGC has a unique distinction of being a company with in-house service capabilities in all areas of Exploration and Production of oil & gas and related oil-field services. Winner of the Best Employer award, this public sector enterprise has a dedicated team of over 33,500 professionals who toil round the clock in challenging locations.
ONGC Videsh is a wholly owned subsidiary of Oil and Natural Gas Corporation Limited (ONGC), the National Oil Company of India, and is India’s largest international oil and gas Company. ONGC Videsh has participation in 41 projects in 20 countries namely Azerbaijan, Bangladesh, Brazil, Colombia, Iraq, Israel, Iran, Kazakhstan, Libya, Mozambique, Myanmar, Namibia, Russia, South Sudan, Sudan, Syria, United Arab Emirates, Venezuela, Vietnam and New Zealand. ONGC Videsh maintains a balanced portfolio of 15 producing, 4 discovered/under development, 18 exploratory and 4 pipeline projects. The Company currently operates/ jointly operates 21 projects. ONGC Videsh had total oil and gas reserves (2P) of about 711 MMTOE as on April 1, 2018. For more information visit: www.ongcvidesh.com.
- Ranked 160 in coveted Fortune Global 500 list 2019 : India’s largest oil and gas producer, has been ranked 160 in the coveted Fortune Global 500 list.
- Platts Top 250: Ranked no.1 E&P Company : ONGC maintained its First Position globally in the industry category “Oil and Gas Exploration and Production” and achieved overall ranking of 21st position in the Platts Top 250 Global Energy Company Rankings-2018.
- Dun & Bradstreet Award 2019 in the 'Oil and Gas Exploration' category : ONGC has been adjudged the winner in the 'Oil and Gas Exploration' category of the Dun & Bradstreet Corporate Awards 2019.
- Bagged four awards at 5th Dun & Bradstreet PSU Awards : ONGC has been awarded with four accolades at 5th Dun & Bradstreet PSU Awards. It has been adjudged the winner in categories viz. ‘Mining & Exploration: Crude Oil’, ‘Mining & Exploration’, ‘CSR’ and ‘Swachh Bharat’.
- Green Rameswaram CSR project bags accolades at 2nd Innovative Practices Awards : ONGC's ‘Green Rameswaram’ CSR Project was crowned winner under the ‘Sanitation Category’ at the 2nd Innovative Practices Awards for Sustainable Development Goals at Bengaluru on 08.06.2018.
- ‘Maharatna of the Year (Non-Manufacturing)’ in Dalal Street’s Roll of Honor : ONGC has been recognized in the Dalal Street Investment Journal’s Roll of Honor list of India’s Best Public Sector Undertakings 2017 as the ‘Maharatna of the Year (Non-Manufacturing)’.
- INFRA Icon Award in the ‘Global Energy' category : ONGC has been conferred with INFRA Icon Award in the “Global Energy” category at the mid-day INFRA Icons Awards 2018.
- Top honours at Swachhta Pakwada Awards : ONGC has received top honours at ‘Swachhta Pakhwada’ Awards in Delhi.
- “GLOBAL ENVIRONMENT AWARD” : IPSHEM, Goa received prestigious “Energy And Environment Foundation Global Environment Award 2018” under the Platinum category during the 9th World Renewable Energy Technology Congress and Expo-2018.
- FIPI Oil & Gas Awards 2017 : ONGC has been conferred with two awards under prestigious categories of “Exploration & Production – Company of the year” and “Environmental Sustainability – Company of the year” by Federation of Indian Petroleum Industry (FIPI).
- Saksham Award for the best Overall performance in Upstream Sector : ONGC for its recognition of its efforts for promoting Oil & Gas Conservation during “Saksham 2018” was honoured with the award for best overall performance in the “Upstream Sector” at the inaugural function of “Sanrakhsan Kshamta Mahotsav-2019” (Saksham-2019).
- Governance Now Award : ONGC was awarded Governance Now Award for its “HR Excellence” and “Communication Outreach” at the 6th PSU Awards held at New Delhi.
- Golden Peacock Award for HR Excellence : ONGC won the Golden Peacock Award for HR Excellence in a ceremony organized by Institute of Directors (IOD) at Mumbai.
- CSR work in Jammu & Kashmir recognized by FICCI : The Company has been conferred with FICCI award for Corporate Social Responsibility (CSR) projects undertaken by it in Baramulla and Uri of Jammu & Kashmir.
- Award for Best Innovative Practices for Women at Workplace : ONGC has won the Best Innovative Practices Award for Women at Workplace at the 2nd Gender Equality Summit organized by Global Compact Network India on the theme “Preparing Women for the Future of Work”, on 1 March 2019 at New Delhi.
- “Energy and Environment Foundation Global Safety Award 2019” : IPSHEM received the prestigious “Energy and Environment Foundation Global Safety Award 2019” in Platinum category during 9th World Petro-Coal Congress & Expo (WPCC), 2019.
ONGC is one of India's Most Valuable Corporations
ONGC is one of the most valuable public sector enterprises listed on Indian stock exchanges.
ONGC Represents India's Energy Security through its Pioneering Efforts
ONGC is the only fully–integrated oil and gas 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 oil and gas producing basins in India:
- This largest energy company in India has established 8.70 billion tonnes of in-place hydrocarbon reserves. It has to its credit more than 570 discoveries of oil and gas with Ultimate Reserves of 3.02 Billion Metric tonnes (BMT) of Oil Plus Oil Equivalent Gas (O+OEG) from domestic acreages.
- It has cumulatively produced 998 Million Metric Tonnes (MMT) of crude and 645 Billion Cubic Meters (BCM) of Natural Gas.
- ONGC has won 115 out of a total 254 Blocks (around 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 41 Oil & Gas projects in 20 countries.
- ONGC produces over 1.26 million barrels of oil equivalent per day, contributing around 70% 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 (61% in PEL Areas & 81% in ML Areas).
- ONGC possesses about 15% of the total Indian refining capacity.
- This E&P Company 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 254 Blocks awarded in the 9th rounds of NELP.
- ONGC owns and operates more than 25,500 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 generations 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
ONGC Videsh is a wholly owned subsidiary of Oil and Natural Gas Corporation Limited (ONGC), the National Oil Company of India, and is India’s largest international oil and gas Company. ONGC Videsh has participation in 41 projects in 20 countries namely Azerbaijan, Bangladesh, Brazil, Colombia, Iraq, Israel, Iran, Kazakhstan, Libya, Mozambique, Myanmar, Namibia, Russia, South Sudan, Sudan, Syria, United Arab Emirates, Venezuela, Vietnam and New Zealand. ONGC Videsh maintains a balanced portfolio of 15 producing, 4 discovered/under development, 18 exploratory and 4 pipeline projects. The Company currently operates/ jointly operates 21 projects. ONGC Videsh had total oil and gas reserves (2P) of about 711 MMTOE as on 1 April 2018.
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 15 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 the year 2000, gradually succeeded in competing with the best in international arena and could conclude many large transactions across the world in subsequent years.
During the year ended 31 March 31 2018, following awards and recognitions were conferred upon ONGC Videsh:
- The President of India conferred the prestigious SCOPE award for Excellence and Outstanding Contribution to the Public Sector Management – Institutional Category II (Miniratna-I & II PSEs) for 2014-15 on 11 April 2017.
- Golden Peacock Award for Risk Management 2017 instituted by the Institute of Directors (IOD) during Global Convention on Corporate Ethics & Risk Management.
- The ICICI Lombard & CNBC-TV18 India Risk Management Award in the category of “Best Risk Management Framework & Systems – Risk Technology”.
- Strategic Performance Award in Miniratna-I category at the 5th edition of Governance Now PSU Awards-2017.
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
- Eyeing Complete paperless office by 2030
Best in Class Infrastructure and Facilities
- This public sector enterprise operates with 14 seismic crews, manages 262 onshore production installations, 268 offshore installations, 69 drilling (plus 37 hired) and 54 work-over rigs (plus 25 hired), owns and operates more than 25,500 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.
The Road Ahead
ONGC looks forward to becoming 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
- This E&P company 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.
Value chain Integration 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. The refinery capacity has been progressively upgrqaded to 15 MMT. Besides adding that desired comfort to this Oil & Gas 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.
ONGC is the key promoter in ONGC Petro-additions Pvt. Limited (OPaL) - a grass root Mega Petrochemical project in the PCPIR / SEZ zone at Port City of Dahej, Gujarat, India.
ONGC’s laurels in the field of Sports
- ONGC sportspersons earned laurels for the Company and the country by securing 15 medals including 3 Gold, 7 silver and 5 Bronze at Asian Games 2018 held at Jakarta & Palembang, Indonesia. 38 ONGCians represented the Indian contingent while participating in this mega Event.
- In Commonwealth Games 2018 at Gold Coast, Australia, ONGC sportspersons bagged 13 medals including 5 Gold, 3 Silver and 5 Bronze contributing to the overall tally of 66 medals of Team India. 21 ONGCians represented India in various game disciplines in this event.
- ONGC continued its large scale support for development of sports in the country in the form of employment to 171 sportspersons and scholarships to 289 budding talents in 25 game disciplines. ONGC also sponsored various sports associations / federations / sports bodies for organising sports events as well as to develop sporting infrastructure. The support has enabled many sportspersons to achieve and bring home laurels for the nation and the organisation.
- Three ONGCian’s were conferred the prestigious “Arjuna Award” for the year 2018 namely Ms. Hima Das (Scholarship Athlete), Ankur Mittal (Shooting) and G Sathiyan (Table Tennis).
- Pankaj Advani, was conferred the third highest civilian award “Padma Bhushan” in the year 2018. He also won his 21st World title in cue sports by winning two World Titles in 2018 IBSF World Billiards Championship in time and point format at Myanmar in November 2018.
- Virat Kohli (Cricket) was conferred the prestigious “Rajiv Gandhi Khel Ratna” for the year 2018. The total number of National Awardees in the organization stand at 44 ( Padma Bhushan – 1, Khel Ratna – 2, Padma – 3 & Arjuna Award – 37 and Dhyanchand Award – 1).
- ONGC Scholarship Athlete Suraj Panwar created history by winning Silver medal in 5000 m walk at Buenos Aires in Youth Olympic Games 2018.
- ONGCian Sourav Kothari won ‘WBL World Billiards’ Title in Leeds, UK in October 2018.
- ONGCian Sourabh Verma won the ‘Dutch Super Open 100’ International Badminton Tournament at Almere, Netherland in October 2018.
- ONGC’s Women Shooting Team comprising ONGCian Ms.Apurvi Chandela, and scholarship players Ms. Sriyanka Sadangi and Ms.Gayatri Pawaskar won Gold medal in the 62nd National Shooting Championship (Rifle Pistol event) at Trivandrum in November, 2018.
- ONGC organised the 2nd edition of the Para Games in March, 2019 in which 148 PWDs from different work-centres of ONGC participated.
Corporate Social Responsibility
In recognition of its role as a 'responsible leader', ONGC’s CSR initiative continues its quest to make positive, tangible difference in the lives of the vulnerable and disadvantaged, especially in and around its operational areas. In FY' 17 it spent as much as INR 5,259 million in its CSR initiatives. With a business paradigm that is based on an interconnected vision - of people's welfare, societal growth and environmental conservation, ONGC with its Corporate Social Responsibility activities in India continues 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 and around the company's 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 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.
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.
This largest energy company has vast pool of skilled and talented professionals – the most valuable asset for the company. ONGCians 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.