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 75 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 220 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 30,000 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 39 projects in 19 countries namely Azerbaijan, Bangladesh, Brazil, Colombia, Iraq, Israel, Iran, Kazakhstan, Libya, Mozambique, Myanmar, Namibia, Russia, South Sudan, Syria, United Arab Emirates, Venezuela, Vietnam and New Zealand. ONGC Videsh maintains a balanced portfolio of 14 producing, 4 discovered/under development, 18 exploratory and 3 pipeline projects. The Company currently operates/ jointly operates 21 projects. ONGC Videsh has 2P reserves of 675.721 MMTOE as on 01 April 2019. For more information visit: www.ongcvidesh.com.
- Certified as Great Place to Work: ONGC has been certified by the Great Place to Work, for its ‘high-trust, high-performance culture’; Great Place to Work is an USA-based global leader in certification of HR practices
- S&P Platts Global Energy Award 2019: ONGC awarded for Corporate Social Responsibility - Diversified Program. ONGC is the only Indian company to bag honors across all categories.
- 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.
- ONGC Ranked 220 in Forbes Global 2000 list
- 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 8.98 billion tonnes of in-place hydrocarbon reserves. It has to its credit more than 570 discoveries of oil and gas with Ultimate Reserves of 3.13 Billion Metric tonnes (BMT) of Oil Plus Oil Equivalent Gas (O+OEG) from domestic acreages.
- It has cumulatively produced 1042 Million Metric Tonnes (MMT) of crude and 715 Billion Cubic Meters (BCM) of Natural Gas.
- ONGC has won 116 out of a total 254 Blocks (around 50%) in the 9 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 75% 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 (555) 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.
- ONGCs performance in OALP Bid rounds: Wins two Blocks in Round 1, one Block in Round 2 & seven Blocks in Round 3
- 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.
Energy Strategy 2040
- 2x Oil & Gas Production
- 3x Revenue distributed across E&P, refining & Marketing and other business
- 4x PAT with 10% contribution from non-Oil & Gas business
- 5-6x Market Capitalization current levels
Sourcing Equity Oil Abroad
ONGC Videsh Limited, 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 owns Participating Interests in 41 oil and gas assets in 20 countries and produced about 29.5% of oil and 22.1% of oil and natural gas of India’s domestic production in FY’19. In terms of reserves and production, ONGC Videsh is the second largest petroleum company of India, next only to its parent ONGC.
Current Assets Portfolio
ONGC Videsh has a stake in 39 oil and gas projects in 19 Countries, viz. Azerbaijan (2 projects), Bangladesh (2 Projects), Brazil (2 projects), Colombia (7 projects), Iran (1 project), Iraq (1 project), Israel (1 project), Kazakhstan (1 project), Libya (1 project), Mozambique (1 Project), Myanmar (6 projects), Namibia (1 project), New Zealand (1 Project), Russia (3 projects), South Sudan (2 projects), Syria (2 projects), UAE (1 project), Venezuela (2 projects), and Vietnam (2 projects).
ONGC Videsh adopts a balanced portfolio approach and maintains a combination of producing, discovered, exploration and pipeline assets. Currently, ONGC Videsh has oil and gas production from 14 Assets, 4 Assets where hydrocarbons have been discovered and are at various stages of development, 18 Assets are under various stages of Exploration and 3 projects are pipeline projects.
ONGC Videsh operates in highly competitive international oil and gas sector by competing with the best in the industry. Over the years, ONGC Videsh has built inherent capabilities and expertise in its areas of operations. ONGC Videsh has developed strong partnership alliance with a host of IOCs and NOCs including ExxonMobil, British Petroleum, Shell, ENI, Total, Repsol, Statoil, Chevron, Petrobras, Sodeco, Socar, Rosneft, ADNOC, POSCO International, Kazmunaigaz (KMG), Petro Vietnam, CNPC, Sinopec, PDVSA, Petronas, Anadarko and Ecopetrol.
ONGC Videsh has highly skilled human resource with excellent technical and management capabilities. The company has built facilities for evaluation, interpretation, economic modeling, FEED, design and execution of oil and gas projects and enjoys the technical and human resource support from ONGC. ONGC Videsh has developed core expertise in due diligence, techno-commercial evaluations, bid negotiations and transaction documentations.
ONGC Videsh has 2P reserves of 675.721 MMTOE as on 01 April 2019.
ONGC Videsh is the first Indian Company to produce equity oil and gas abroad. ONGC Videsh’s production started in 2002-03 with commencement of production of Block 06.1 in Vietnam in January 2003 and from Greater Nile Oil Project in Sudan in March 2003, aggregating a meagre 0.25 MMTOE in FY’03. With sustained growth in production from its acquired assets, ONGC Videsh’s production reached 9.448 MMTOE in 2010-11. Adverse geo-political conditions in Sudan and South Sudan and force majeure situation in Syria caused decline in oil production to a level 7.260 MMTOE in 2012-13. However, in 2013-14, 2014-15 and 2015-16, production increased to the level of 8.357 MMTOE, 8.874 MMTOE and 8.916 MMTOE, primarily due to better management and addition in the portfolio. ONGC Videsh’s share in production of oil and oil equivalent gas (O+OEG), together with its wholly-owned subsidiaries, ONGC Nile Ganga B.V., ONGC Amazon Alaknanda Limited, Imperial Energy Limited, Carabobo One AB and ONGC Videsh Singapore Pte. Ltd. was 14.833 MMTOE during FY’19 as compared to 14.164 MMTOE during FY’18. The overall oil production increased from 9.353 MMT during FY’18 to 10.097 MMT during FY’19 (8.0% higher) and gas production decreased from 4.811 BCM during FY’18 to 4.736 BCM during FY’19 (1.6% less).
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.
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 in India, continues to cater to the developmental needs across the following focus areas:
- Eradicating hunger, poverty, malnutrition, sanitation and making available safe drinking water.
- Promoting education, including special education and employment; enhancing vocation skills – especially among children, women, elderly and the differently abled and livelihood enhancement projects.
- Promoting gender equality, empowering women, setting up homes and hostels for women and orphans; setting up old age homes, day care centers and such other facilities for senior citizens and measures for reducing inequalities faced by socially and economically backward groups.
- Ensuring environmental sustainability, ecological balance, protection of flora and fauna, animal welfare, agroforestry, conservation of natural resources and maintaining quality of soil, air and water (including contribution to the Clean Ganga Fund set-up by the Central Government for rejuvenation of river Ganga)
- Protection of national heritage, art and culture including restoration of buildings and sites of historical importance and works of art; setting up public libraries; promotion and development of traditional art and handicrafts;
- Measures for the benefit of armed forces veterans, war widows and their dependents;
- Training to promote rural sports, nationally recognized sports, Paralympic and Olympic sports
- Contribution to the Prime Minister's national relief fund or any other fund set up by the central government for socio-economic development and relief and welfare of the schedule caste, tribes, other backward classes, minorities and women;
- Contribution to incubators funded by Central Government or State Government or any agency or Public Sector Undertaking of Central Government or State Government; and contributions to public funded Universities, Indian Institute of Technology (IITs), National Laboratories and Autonomous Bodies (established, under the auspices of Indian Council of Agricultural Research (ICAR), Indian Council of Medical Research (ICMR), Council of Scientific and Industrial Research (CSIR), Department of Atomic Energy (DAE), Defense Research and Development Organization (DRDO), Department of Science and Technology (DST), Ministry of Electronics and Information Technology) engaged in conducting research in science, technology, engineering and medicine aimed at promoting Sustainable Development Goals (SDGs).]
- Rural Development Projects.
- Slum Area Development.
- Explanation - For the purposes of this item, the term `slum area' shall mean any area declared as such by the Central Government or any State Government or any other competent authority under any law for the time being in force.
- Disaster Management – including relief, rehabilitation and reconstruction activities.
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.