Maharatna ONGC’s Corporate Profile - The Largest Energy Company in India

Last updated on: 05 April 2021 11:50:00 AM

ONGC Corporate Profile

ONGC Represents India's Energy Security Through its Pioneering Efforts.

Maharatna ONGC is the largest crude oil and natural gas Company in India, contributing around 71 per cent to Indian domestic production. Crude oil is the raw material used by downstream companies like IOC, BPCL, HPCL and MRPL (Last two are subsidiaries of ONGC) to produce petroleum products like Petrol, Diesel, Kerosene, Naphtha, and Cooking Gas LPG.

ONGC: Committed towards India's Energy Security

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 around 28,500 professionals who toil round the clock in challenging locations.

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 35 oil and gas assets in 15 countries and produced about 30.3% of oil and 23.7% of oil and natural gas of India’s domestic production in 2019-20. In terms of reserves and production, ONGC Videsh is the second largest petroleum company of India, next only to its parent ONGC.

ONGC subsidiary Mangalore Refinery and Petrochemicals Limited (MRPL) is a schedule ‘A’ Miniratna, Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. The 15.0MMTPA (Million Metric Ton per annum) Refinery has got a versatile design with complex secondary processing units and a high flexibility to process Crudes of various API, delivering a variety of quality products. MRPL, with its parent company Oil and Natural Gas Corporation Limited (ONGC), owns and operates ONGC Mangalore Petrochemicals Limited (OMPL), a petrochemical unit capable of producing 0.905 MMTPA of Para Xylene and 0.273 MMTPA of Benzene.

ONGC subsidiary HPCL is a Maharatna CPSE. HPCL has the second largest share of product pipelines in India with a pipeline network of more than 3370 kms for transportation of petroleum products and a vast marketing network consisting of 14 Zonal offices in major cities and 133 Regional Offices facilitated by a Supply & Distribution infrastructure comprising Terminals, Pipeline networks, Aviation Service Stations, LPG Bottling Plants, Inland Relay Depots & Retail Outlets, Lube and LPG Distributorships. Consistent excellent performance has been made possible by highly motivated workforce of over 9,500 employees working all over India at its various refining and marketing locations.

Global Ranking
ONGC is one of India's Most Valuable Corporations

The market cap of ONGC is one of the best among PSUs in India. ONGC is the biggest wealth creator in the country.

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.

Top Energy Company

  • ONGC has discovered 7 out of the 8 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's wholly-owned subsidiary ONGC Videsh Ltd. (OVL) is the biggest Indian multinational, with 37 Oil & Gas assets in 17 countries.
  • ONGC produces over 1.26 million barrels of oil equivalent per day, contributing around 71% of India's domestic production. Of this, over 76% 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. ONGC has got 12.5% take in Petronet LNG.
  • 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.
  • ONGCs performance in OALP Bid rounds: Wins two Blocks in Round 1, one Block in Round 2, seven Blocks in Round 3 and seven Blocks in Round 4.
  • Total blocks awarded to ONGC and Consortium under NELP was 130 Blocks; 116 ONGC operated and 14 as Consortium/Joint Ventures.
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

Current Assets Portfolio

ONGC Videsh has stake in 35 oil and gas projects in 15 Countries, viz. Azerbaijan (2 projects), Bangladesh (2 Projects), Brazil (2 projects), Colombia (7 projects), Iran (1 project), Iraq (1 project), Libya (1 project), Mozambique (1 Project), Myanmar (6 projects), 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, 14 Assets are under various stages of Exploration and 3 projects are pipeline projects.

Competitive Strengths

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, Equinor, MOL, Petrobras, Sodeco, AzACG, Rosneft, ADNOC, Posco International,  Petro Vietnam, CNPC, Sinopec, PDVSA, Petronas and Ecopetrol.

ONGC Videsh has highly skilled human resource with excellent technical and management capabilities. The company has built facilities for evaluation, interpretation, economic modelling, 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.

Reserves

ONGC Videsh has 2P reserves of 586.907 MMTOE as on 01.04.2020.

Production Performance

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. 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 North Eastern Africa 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. With acquisition of 26% stake in Vankorneft, Russia in 2016 and 4% stake in Lower Zakum Concession, UAE in 2018; production of ONGC Videsh has increased to 12.803 MMTOE for 2016-17 and 14.833 MMTOE in 2018-19.  ONGC Videsh reached highest ever production of oil and oil equivalent gas (O+OEG) of 14.891 MMtoe during 2019-20.

Our Vision

To be a world-class exploration and production company providing energy security to the country.

Our Objectives

  • To support India’s energy security
  • To build balanced portfolio of exploration, discovered and producing assets in focus countries
  • To build a team that excels in performance through assimilation of best practices and technologies
  • To be at par with the best international oil and gas companies
  • Be the strongest Indian Player in the international E&P
  • Build collaborative relations with partners

Assets

CIS and Far East

Azerbaijan (2 projects)

ACG

ACG fields are located in the south Caspian Sea covering an area of 435 Sq. Km., in a water depth of 120-280 meters and about 95 Km. off the coast of Azerbaijan. The name ACG represents three contiguous, NW-SE trending, sub-surface structures named Azeri, Chirag & Deep-water Guneshli. ONGC Videsh acquired 2.7213% Participating Interest (PI) of ACG in Caspian offshore on 28.03.2013. ACG PSA extension till 2049 was signed between AIOC partners and SOCAR in September’2017. As per the Restated and Amended PSA for extension period, PI of IOCs has reduced with ONGC Videsh PI becoming 2.31% from the existing 2.7213%. The other partners in the Project are BP ~ 30.37% (Operator-on behalf of AIOC, the operating company), AzACG – 25%, MOL~ 9.57%, INPEX~ 9.31%, Euinor Apsheron AS~ 7.27%, ExxonMobil~ 6.79%, TPAO~ 5.73%, and Itochu~ 3.65%.

BTC

ONGC Videsh acquired 2.36% PI in Baku-Tbilisi-Ceyhan (BTC) pipeline project in Azerbaijan from Hess Oil and Gas Holdings Inc. in March, 2013. Other shareholders are AzBTC-25%, Mol-8.9%, INPEX-2.5%, Equinor Apsheron AS -8.71%, TPAO-6.53%, Itochu-3.4%, TOTAL-5%, ENI-5%, Exxon Azerbaijan Ltd.-2.5% and BP is operator with 30.1% PI.

Bangladesh (2 Projects)

Block SS-04

The block is located in offshore Bengal Basin and covers an area of 7269 Sq. Km with water depth ranging from 0 to 100 meter. The block was awarded to consortium of ONGC Videsh Ltd and Oil India Ltd in 2012 Bangladesh bid round and the PSC was signed on 17.02.2014. ONGC Videsh with 45% PI is the operator and other partners are OIL with 45% PI and BAPEX with 10% PI.

Block SS-09

The block is located in offshore Bengal Basin and covers an area of 7026 Sq. Km. with water depth from 0 to 100 meters. The block was awarded to consortium of ONGC Videsh Ltd and Oil India Ltd in 2012 Bangladesh bid round and the PSC was signed on 17.02.2014. ONGC Videsh with 45% PI is operator and other partners are OIL with 45% PI and BAPEX with 10% PI.

Myanmar (6 projects)

Block-A1 & A3

A1 and A3 blocks covering an area of 2,129 Sq. Km. and 3,441 Sq. Km. respectively are located in Rakhine Coast Basin in a water depth ranging up to 1500 meters. ONGC Videsh acquired 17% Participating Interest (PI) in January’2002 in A1 and March’2006 in A3 block. Other partners in the blocks are POSCO INTERNATIONAL, the Operator, with 51% PI, MOGE 15% PI, GAIL 8.5% PI and KOGAS 8.5% PI. Shwe &Shwe Phyu gas fields in A1 block were discovered in January’2004 & March’2005 respectively and Mya gas field in A3 block was discovered in January’2006.

Block B-2

Block B2 is located in the Zebyutaung–Nandaw area and geologically in the Northern part of the Chindwin Basin of Myanmar and covers an area of 16,995.58 Sq. Km. The block was awarded to ONGC Videsh in the Myanmar Onshore Bidding Round 2013 and the PSC was signed on 08.08.2014. ONGC Videsh with 97% PI is the operator and other partner M&S is with 3% PI.

Block EP-3

The Block EP-3 is located in the Central Burma Basin (BagoYoma Sub Basin) and covers an area of 1649.83 Sq. Km. The block was awarded to ONGC Videsh in Myanmar Onshore Bidding Round 2013 and the PSC was signed on 08.08.2014. ONGC Videsh with 97% PI is operator and other partner M&S is with 3% PI.

Pipeco-1

The mid-stream project is an unincorporated joint venture between the consortium and is a part of the combined development of Block A-1 and A-3. As a part of this project, 110 Km X 32” gas trunk transportation pipeline has been constructed and is being used for transportation of gas from Shwe Offshore Platform (SHP) to land fall point at Ramree Island. The Onshore gas terminal (OGT), supply base and jetty have been constructed through an EPCIC contract. ONGC Videsh acquired 17% PI in the Offshore Pipeline Project (Pipeco 1) in July’2013 and other partners are MOGE-15%, GAIL-8.5%, KOGAS-8.5% and POSCO INTERNATIONAL is operator with 51% PI.

Pipeco-2

A joint operating Pipeline Company named South East Asia Gas Pipeline Company Limited (SEAGPCL) was formed and registered in June’2010 by the consortium with the objective of laying trans-country gas pipeline from land fall point at Ramree Island to Ruilli at Myanmar-China border. The joint venture company has laid pipeline of 792.5 Km X 40”. ONGC Videsh holds 8.347% PI in Onshore Gas Pipeline Project (Pipeco 2). The other stakeholders in the pipeline project are POSCO INTERNATIONAL-25.041%, MOGE-7.365%, GAIL-4.1735%, KG-KOGAS-4.1735 % and CNUOC is operator with 50.9% PI.

Russia (3 projects)

Sakhalin-1

Sakhalin-1 is a large oil and gas field in far-east offshore in Russia, spread over an area of approx. 1,140 Sq. Km., which includes three offshore fields namely Chayvo (WD-15 meters), Odoptu (WD-25 meters) and Arkutun Dagi (WD-35 meters). ONGC Videsh had acquired 20% Participating Interest (PI) in Sakhalin-I on 31.07.2001. Exxon Neftegas Limited (ENL) holds 30% PI and is the operator; SODECO holds 30% & remaining 20% PI is held by Rosneft Subsidiaries.

Imperial Energy

ONGC Videsh acquired Imperial Energy Corporation Plc., an independent upstream oil Exploration and Production Company having its main activities in the Tomsk region of Western Siberia, Russia in January, 2009. Imperial’s interests comprised of 10 E&P license blocks in the Tomsk region with a total licensed area of approximately 11,038 sq. km, which were granted to the Company during 2005 to 2017 have different validity dates and will expire between the years 2027 and 2029.

Vankor

Vankor field is having an area of 416.5 Sq. Km. is located in the north-eastern part of West Siberian Basin around 142 Km. from Igarka in the Russian Federation. Vankor is Rosneft’s and also Russia’s one of the largest field by Production. ONGC Videsh acquired 26% equity (15% equity on May 31, 2016 and additional 11% equity on October 28, 2016) in CSJC Vankorneft, a company organized under the law of Russian Federation which is the owner of Vankor Field and North Vankor license. Other partners are Indian consortium of OIL-IOC-BPRL with 23.9% PI and Rosneft with 50.1% PI is the Operator.

Vietnam (2 projects)

Block 06.1

The Block 06.1 located in Nam Con Son basin covering total area of 955 Sq. Km. with water depth 125 to 190 meters and comprises two producing fields namely, Lan Tay and Lan Do. ONGC Videsh acquired 100% stake in the exploration license for Block 06.1 on 19.05.1988. Subsequently, ONGC Videsh divested its share and currently, ONGC Videsh has a PI of 45%, Rosneft Vietnam BV with PI of 35% is the Operator &PetroVietnam holds remaining PI of 20%.

Block -128

The block is located in Offshore PhuKhanh Basin having an area of 7058 Sq. Km. with water depth ranging from 200 to 2000 meters. ONGC Videsh acquired the block in May 2006. ONGC Videsh is operator in the block with 100% PI.

Block PEP-57090, New Zealand: Block PEP-57090 was relinquished in FY 2019-20.

Block Satpayev, Kazakhstan: The Satpayev offshore block was relinquished in FY 2020-21.

Middle East

Iran (1 project)

Block Farsi

Block Farsi is an offshore block spread over 3,500 Sq. Km. in Persian Gulf Iran with a water depth of 20-90 meters. ONGC Videsh led Indian Consortium (IC) carried out exploration activities in Farsi Block under an Exploration Service Contract (ESC) signed on 25.12.2002. ONGC Videsh was operator with 40% PI and other partners were IOC with 40% share and OIL with 20% share.

Iraq (1 project)

Block-8 (Renamed Block- 20)

Block-20 is a large on-land exploration block in Western Desert, Iraq spread over 10500 Sq. Km. ONGC Videsh acquired 100% stake in exploration Block-8 when the Exploration & Development Contract for the Block was signed on 28.11.2000.

Syria (2 projects)

AFPC

The Al Furat Production Company (AFPC) has five discrete production sharing contracts in eastern Syria for the development of 38 mature oil fields of varying size, which are located in or on the margins of the Euphrates Graben system. AFPC is a joint venture of Shell Syria Petroleum Company, the operator with approx. share of 64% (range 62.5%-66.67%), and HESBV, with approx. share of 36%. ONGC Videsh together with Mittal Investments acquired 50% stake in Himalaya Energy Syria B.V. (HESBV) in January’2006. Fulin Investments Sarl, a subsidiary of China National Petroleum Company International (CNPCI) holds the remaining 50% shares in HESBV.

Block-24

Block-24 is situated in eastern desert of Syria near the fields of AFPC project. The block lies on the margins of the Euphrates Graben system. ONGC Videsh acquired the exploration, development and production license for Block-24 Syria along with IPR Mediterranean Exploration Ltd (IPRMEL) in May’2004. Currently, ONGC Videsh has 60% PI, IPRMEL is operator with 25% PI and Tri Ocean Mediterranean holds 15% PI.

UAE (1 project)

Lower Zakum Concession

A consortium led by ONGC Videsh and comprising Indian Oil Corporation Limited and Bharat Petro Resources Limited had acquired 10% PI in the Lower Zakum Project in UAE in March 2018, through their respective subsidiaries. Total PI of 10% is divided amongst the partners as ONGC Videsh – 4%, IOCL- 3% and BPRL- 3%. The Concession has a term of 40 years with an effective date of 9th March 2018. ADNOC holds 60% PI and is operator of the project. Other partners are INPEX 10% PI, PetroChina 10% PI, ENI 5% PI and 5% PI in the project is held by Total.

Block-32, Israel: Block-32 was relinquished in FY 2020-21.

Africa

Libya (1 project)

Contract Area 43

Contract Area 43 is located in Cyrenaica Offshore Basin of Libya and consists of four blocks spread over an area of 7449 Sq. Km. with water depth ranging from 20 to 2200 meters. ONGC Videsh acquired 100% stake in exploratory block Contract Area 43 on 17.04.2007.

Mozambique (1 Project)

Rovuma Area-1 Offshore

Rovuma Area-1 Offshore Mozambique is part of the Rovuma Basin, which is located in the northern part of Mozambique offshore and is one of the largest natural gas discoveries in recent times. The water depth in the block ranges from 500 to 2000 meters. The gas discoveries include Prosperidade (which straddles the adjoining Area 4’s Mamba field), Golfinho-Atum, Tubarao, Tubarao Tigre and Orca.

ONGC Videsh has 16% PI in the project. 6% PI was acquired on 07.01.2014 through acquisition of 60% stake in BREML, which holds 10% PI in Area-I; OIL holds the remaining 40% stake in BREML. 10% direct PI was acquired by ONGC Videsh on 28.02.2014. The current Consortium partners are: Total-26.5% (Operator), Mitsui-20%, BPRL-10%, PTTEP-8.5%, BREML-10% (ONGC Videsh-6% & OIL-4%), ONGC Videsh-10% and ENH-15%.

South Sudan (2 projects)

GPOC

The project was acquired before the secession of South Sudan from Sudan in March, 2003 and consisted of the upstream assets of on-land Blocks 1, 2 & 4. Block 1, 2 & 4, collectively known as Greater Nile Oil Project (GNOP), initially consisted of an area of 49,500 Sq. Km. in the prolific Muglad basin about 780 kms in the South-West of Khartoum, the capital of Sudan. Upon secession of South Sudan from Sudan, Blocks 2A, 2B & 4N are in Sudan and Blocks 1A, 1B as well as 4S are in South Sudan. ONGC Videsh holds 25% PI in GPOC, other partners in the project are CNPC (40%), Petronas (30%) and Nilepet (5%). The Project is jointly operated by all partners through a Joint Operating Company ‘Great Pioneer Operating Company’ (GPOC).

SPOC (Block 5A)

Block 5A is located in the prolific Muglad basin and spread over an area of about 20,917 Sq. Km. ONGC Videsh acquired 24.125% stake in the block in September’2003. Other partners in the block are Petronas with 67.875% PI &Nilepet with 8% PI. The block is jointly operated by all partners through a Joint Operating Company-SUDD Petroleum Operating Company (SPOC).

Greater Nile Oil Project (GNOP) Sudan, Sudan Multi Product Pipeline and Block PEL-0037 Namibia: GNPOC, Sudan Pipeline and PEL-0037 were relinquished in FY 2019-20

LAC

Brazil (2 projects)

BC-10:

BC-10 Project is a deep-water project covering an area of 2961.67 Sq. Km. located in the Campos Basin approximately 120 km southeast of the city Vitoria off the coast of Brazil, with water depth ranging from around 1400 to 2100 meters. ONGC Videsh had acquired 15% PI in April’2006 and 12% PI in December’2013. ONGC Videsh has 27% PI and other partners are Qatar Petroleum with 23% PI and Shell with 50% PI is operator.

Block BM Seal-4:

The Block is located in the Sergipe Alagoas Offshore Basin in Northern Brazil and has an area of 320 Sq. Km. with water depths ranging from 1500 to 2700 meters. Exploratory block BM-Seal-4 was originally awarded to Petrobras in August 2000. ONGC Videsh farmed in to the block on 04.06.2007 with 25% PI as part of swap agreement between ONGC Videsh and Petrobras (75% PI). Petrobras is the operator of the project with 75% PI.

Colombia (7 projects)

MECL

Mansarovar Energy Colombia Limited (MECL) is a 50-50 JV company of ONGC Videsh and Sinopec International Petroleum Exploration and Production Corporation (SIPC). MECL owns 100% interest in Velasquez field and the Velasquez-Galan pipeline of capacity 55,000 BOPD which runs 189 km from the Velasquez property to Ecopetrol’s Barrancabermeja refinery. Additionally MECL has 50% PI in Nare Association Contract (Ecopetrol is partner with 50% PI). The Association contract covers the commercial fields Moriche, Girasol, Jazmin, Nare Sur, Under River and Abarco as well as non-commercial area of Chicala within the Middle Magdalena Basin. ONGC Videsh acquired 50% share in MECL in August’2006.

Block RC-9

Block RC-9 is located near Chuchupa and Ballena Gas fields in the North Western part of offshore Guajira Basin of Colombia and has an area of 1060 Sq. Km. with water depth ranging from 40 to 160 meters. ONGC Videsh acquired 50% PI in the block on 30.11.2007. Ecopetrol holds the remaining 50% PI and is operator of the block.

Block RC-10

Block RC-10 is located in the North Western part of offshore Guajira Basin of Colombia and has an area of 1340 Sq. Km. with water depth ranging from 200 to 2600 meters. ONGC Videsh acquired 50% PI in the block on 30.11.2007 and is the operator. Ecopetrol holds the remaining 50% PI in the block.

Block SSJN7

Block SSJN7 is located in the South Western part of onshore Sinu San Jacinto Basin, Colombia and has an area of 2707 Sq. Km. ONGC Videsh acquired 50% PI in block SSJN-7 on 24.12.2008 where Pacific Rubiales Energy (PRE) was the Operator with 50% PI. Now, the operatorship and PI of PRE has been transferred to Canacol Energy (CNE).

Block CPO-5

Block CPO-5 is located in the South Western part of the most prolific oil & gas onshore Llanos Basin, Colombia and has an area of 1992 Sq. Km. The block was awarded to ONGC Videsh in 2008 bid round of Colombia and the PSC’s for the block was signed on 26.12.2008. In June 2010, ONGC Videsh divested 30% PI to Petrodorado Energy (PDQ) while retaining the operatorship of the block.

Block LLA-69

The block is located in the Foothill, North Western part of the prolific Llanos Basin, Colombia and has an area of 226 Sq. Km. Block Llanos-69 (LLA-69) was awarded to MECL, Colombia in 2012 bid round of Colombia and its PSC’s was signed on 29.11.2012. ONGC Videsh has 50% share in MECL and thus holds 50% share in the block. Sinopec holds the remaining 50% share in MECL and the block. The block is operated by MECL.

Block GUA Off-2

Gua Off-2 is located in the North Western part of offshore Guajira Basin of Colombia and has an area of 1171.34 Sq. Km. with water depth ranging from 1500 to 2700 meter. The block was awarded to ONGC Videsh in 2012 bid round of Colombia with acquisition date of 03.12.2012. ONGC is operator and holds 100% stake in the block.

Venezuela (2 projects)

San Cristobal

San Cristobal field is located in Zuata subdivision of Junin Norte Block of Orinoco Heavy Oil belt in eastern Venezuela and covers an area of 160.18 Sq. Km. ONGC Videsh acquired 40% PI in on 08.04.2008 and signed a joint venture agreement with PdVSA (National Oil Company of Venezuela). A JV company called “PetroleraIndovenezolana SA” (PIVSA) was formed wherein PdVSA holds 60% PI through its subsidiary Corporacion Venezolana del Petroleo (CVP 56%) and PdVSA Social (4%) and ONGC Videsh holds 40% through ONGC Nile Ganga (San Cristobal) BV, a wholly owned subsidiary of ONGC Nile Ganga B.V.

Carabobo-1

The Carabobo Area is located in the East of Orinoco oil belt, Venezuela and is part of the States of Anzoátegui and Monagas. ONGC Videsh along with IOC, OIL, Repsol and Petronas acquired a total of 40% PI in May’2010 from Government of Venezuela. The present Participating Interest of partners in Petrocarabobo is PdVSA – 71%, Repsol – 11%, ONGC Videsh -11%, Indian Oil Corporation – 3.5% and Oil India – 3.5%.

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
  • 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
  • Production from small and marginal fields
  • New sources of energy
  • 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 subsidiary Mangalore Refinery and Petrochemicals Limited (MRPL) is a schedule ‘A’ Miniratna, Central Public Sector Enterprise (CPSE) under the Ministry of Petroleum & Natural Gas. The 15.0MMTPA (Million Metric Ton per annum) Refinery has got a versatile design with complex secondary processing units and a high flexibility to process Crudes of various API, delivering a variety of quality products.

ONGC subsidiary HPCL is a Maharatna CPSE. HPCL has the second largest share of product pipelines in India with a pipeline network of more than 3370 kms for transportation of petroleum products and a vast marketing network consisting of 14 Zonal offices in major cities and 133 Regional Offices facilitated by a Supply & Distribution infrastructure comprising Terminals, Pipeline networks, Aviation Service Stations, LPG Bottling Plants, Inland Relay Depots & Retail Outlets, Lube and LPG Distributorships.

Petronet MHB Limited (PMHBL) was incorporated on 31 July 1998 on common carrier principle to provide petroleum product transportation facility from Mangalore Refinery at Mangalore to the Oil Marketing Company Terminals at Hassan & Devangonthi (Bangalore). HPCL & ONGC are holding 29% equity each, consortium of nationalized banks is holding 34% equity and Petronet India Ltd. is holding 8% equity in the Company.

ONGC owns significant natural gas reserves in the North Eastern state of Tripura. However, these natural gas reserves were not developed commercially due to low industrial demand in the North-Eastern region. The complexities of logistics and attendant costs limited the economic viability of transportation of gas to other parts of the country where gas is in deficit. In order to optimally utilize the gas available in Tripura and to supply power to the deficit areas of North Eastern States of India, ONGC along with Infrastructure Leasing and Financial Services Limited (IL&FS) and Government of Tripura (GoT) formed a Special Purpose Vehicle ONGC Tripura Power Company (OTPC) by entering into a Shareholders’ Agreement (SHA) on September 18, 2008 to implement a 726.6 MW Combined Cycle Gas Turbine (CCGT) thermal power plant at Palatana, Tripura.

ONGC Petro additions Limited (OPaL), a multibillion joint venture company was incorporated in 2006. OPaL is promoted by Oil and Natural Gas Corporation (ONGC) and co-promoted by GAIL and GSPC.

Mangalore Special Economic Zone Limited (MSEZL) is one of India’s vibrant and operational multi-product SEZs with investments exceeding US $2 billion so far. With exports of over US $ 400 million worth of goods from its units, MSEZL has emerged as a favored manufacturing destination in India. MSEZL is jointly promoted by Oil & Natural Gas Corporation (ONGC), a Fortune 500 Company and Infrastructure Leasing & Finance Services (IL&FS).

ONGC Mangalore Petrochemicals Limited (OMPL), a green field petrochemicals project, is promoted by Oil and Natural Gas Corporation Ltd (ONGC) – India's Most Valuable Public Sector Enterprise and Mangalore Refinery and Petrochemicals Limited (MRPL) a subsidiary of ONGC. OMPL was incorporated on 19 December 2006. Dahej SEZ Limited (DSL) is a company registered under the companies act, 1956 and is promoted jointly by Gujarat industrial development corporation (GIDC) and Oil & Natural Gas Corporation (ONGC) for development of Special Economic Zone (SEZ).

TERI, a leader in the field of bioremediation of oil spill sites, has been providing such services to ONGC. To use bioremediation technology as well as other biotechnology solutions such as Microbial Enhanced Oil Recovery (MEOR) and Wax Deposition Prevention (WDP) on a large scale in oilfield installations, a joint venture “OTBL” was formed between TERI and ONGC. The share of ONGC in this partnership is 49.98% and that of TERI is 48.02%.

Corporate Governance

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.

Human Resources

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. The present workforce of the Energy Maharatna comprises of around 28,500 dedicated professionals.