ONGC Videsh temporarily shuts down its Oilfield operations in South Sudan

ONGC   Videsh Limited (OVL) is operating in two producing assets in South   Sudan through its Joint Operating Companies, Greater Pioneer Operating   Company (GPOC) and SUDD  Petroleum Operating Company (SPOC) with Participating Interest (PI) of   25% and 24.125% respectively. GPOC is producing close to 37000 bopd (OVL   share 9250 bopd) from Block 1,2,4 and SPOC is producing close to 4600   bopd (OVL share 1100 bopd) from Block 5A .While the partners of OVL in GPOC are CNPC, Petronas and Nilepet, in SPOC OVL has partnership with Petronas and Nilepet.

 

Following   the deteriorating security situation in the country from 15th December   2013, the Joint Operating Companies decided to temporarily shut down the  operations in its oilfields. The shutdown was executed methodically as   per its standard shutdown procedure,  ensuring safety of personnel / equipments and smooth resumption of   operation immediately after normalization of the security situation. Following the shutdown, the production from the oilfields was completely stopped from 22nd December 2013.

Due   to the adverse security situation, OVL in coordination with the Indian   Embassy in South Sudan has evacuated all its 11 personnel posted in   South Sudan. Other partners of OVL in the assets have also evacuated   most of its personnel from the country.

OVL   is closely monitoring the security situation in the country and is in   constant interaction with its partners in the assets and the Indian   Embassy at Juba. Operations will be resumed once the situation is   normalized.

About OVL

OVL   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 E&P Company. At present, OVL participates   in 32 projects in 16 countries including Azerbaijan,  Brazil, Colombia, Cuba, Iraq, Kazakhstan, Libya, Myanmar, Russia, South   Sudan, Sudan, Syria, Venezuela and Vietnam. OVL is currently producing   156 thousand barrels of oil and oil equivalent gas per day and has total   oil and gas reserves of about 433 mmtoe as  on 31 March 2013.

About ONGC

ONGC’s   market capitalisation as on 24th December 2013, was INR 2,438 billion   (US$ 39 billion). It is the highest valued and the highest profit making   Government of India enterprise. For the financial year ended 31 March   2013, ONGC Group had produced 58.7 million  tonne of oil and oil equivalent gas (mmtoe) (approx. 1.2 mmboe per day),   Turnover of INR 165,849 Crore (US$ 30.45 billion) and profit after tax   of INR 24,220 Crore (US$ 4.44 billion). ONGC Group had total oil and gas   reserves of 1,759 mmtoe as on 31 March 2013.

 

Issued By
Oil and Natural Gas Corporation Ltd.
Corporate Communications, New Delhi,
Phone: +91-11-23320032, 23301406
Tele-Fax: 011-23357860