The annual Senior Executive Committee Meeting of minority shareholders of Project Petro Carabobo, Venezuela was held recently in the office of ONGC Videsh, New Delhi. The senior executives of the minority shareholder partners namely ONGC Videsh, Repsol, Indian Oil Corporation and Oil India deliberated on the project performance, strategic plans and way forward for the project PetroCarabobo which is at present in early stages of project development.
Director (Operations), ONGC Videsh chairing the SEC Meeting at New Delhi
ONGC Videsh in consortium with Spain Major – Repsol, holds 11% each and Indian Oil Corporation and Oil India Limited hold 3.5% each in the Project, rest being held by majority partner PdVSA, the National Oil Company of Venezuela. The contract was signed on 12th May 2010 for 25 years which is extendable by another 15 years. In accordance with the contract, the minority partners have set up a service company – Carabobo Ingenieria y Construcciones s.aS.A. (“CICSA”) in Venezuela. The contract mandates that CICSA has to carry out certain activities related to construction of upstream and downstream facilities and also arrange for the project finance with the approval of PetroCarabobo.
After taking over the lead role of Minority Shareholders coordinatorship in the project in July 2016 from Repsol, ONGC Videsh organised this 8th Senior Executive Committee Meeting in its office at New Delhi. The day long meeting was attended by Mr. P.K.Rao, Director (Ops), Mr. Sukant Tiwari, Regional President-Venezuela and project team from ONGC Videsh; Mr. Luis Cabra, Executive Managing Director (E&P), Mr. Evandro Correo, Executive Director – Latin America & Mr. Jose Maria Moreno, Country Manager – Venezuela from Repsol ; Mr. B. Roy, Director (HR & BD), Oil India & Mr. G.K. Satish, Director (P & BD), Indian Oil along with their project officials.
The Senior Executive Committee (SEC) members took stock of the current developments in the project and pondered over the challenges being faced in the Joint Venture due to the geo-political and financial constraints in the country at the moment. The SEC was unanimous in its positive approach for enabling the project overcome its difficulties that were challenging but not insurmountable. Many out-of- the-box ideas were considered by the SEC to take the project forward and at the end of the day it was an excellent exercise in bringing bonhomie among the minority partners with the issues tackled considerabely at the senior level.
Officials attending the 8th Senior Executive Committee Meeting
Mr. P.K.Rao, Director (Ops) complimented Team Venezuela for their persistent efforts in a challenging environment. He emphasised that Team Venezuela should be focussed in planning and implementation of strategic initiatives for future growth of the project.
ONGBV has celebrated India’s 71st Independence Day in Khartoum, Sudan on 15.8.2017 with full zeal and enthusiasm. ONGBV Country Manager, Sudan hoisted the Indian National Flag at 7.15 am amid National Anthem sung by all expats. The Independence Day celebration was attended by National Employees too.
Mr. V. Vidyasagar, Country Manager, ONGBV hoisting National Flag in Khartoum, Sudan
ONGBV Expats showing Patriotism
Country Manager addressed the gathering and highlighted the sacrifices of freedom fighters for Independence of India. He also emphasized that all ONGBV employees should discharge their duties diligently and efficiently. In the end, he distributed the sweets to all employees.
Participation of National Employees of Sudan in Indian Independence Day celebration
Country Manager, Sudan distributing sweets to National Employees
CMD, ONGC’s trophy and Commendation Runner-up Certificate for Best performing Asset of ONGC Videsh was conferred on Block Sakhalin 1 of Russia and A1 & A3 of Myanmar respectively on the Independence Day ceremony at Dehradun. The Certificate is being presented to Mr Sudhir Sharma, Director Exploration, ONGC Videsh by Mr Ajeet Deshwal, ED, Regional President, Asia Pacific Region along with his team.
ONGC Videsh to acquire 30% participating interest in Petroleum Exploration License 0037 Offshore Namibia
New Delhi : ONGC Videsh has signed definitive binding agreements with Tullow Namibia Limited (Tullow), a wholly owned subsidiary of Tullow Oil plc, on 28th June 2017 for acquiring 30% participating interest in Namibia Petroleum Exploration License 0037 for Blocks 2112A, 2012B and 2113B and related agreements (License) out of Tullow’s existing participating interest of 65% in the License. Pancontinental Namibia (Pty) Limited with 30% Participating interest and Paragon Oil and Gas (Pty) Limited with 5% participating interest are other partners in the License. Tullow is the operator of the License and shall continue to remain operator after acquisition by ONGC Videsh. The acquisition is subject to satisfaction of customary conditions precedents including approvals of Namibian regulatory authorities and joint venture partners.
The completion of the present transaction would mark ONGC Videsh entry in Namibian offshore and is consistent with its strategic objective of adding high impact exploration and production assets to its existing E&P portfolio.
About ONGC Videsh
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 E&P Company. At present, ONGC Videsh has 38 projects in 17 countries including Azerbaijan, Bangladesh, Brazil, Colombia, Kazakhstan, Mozambique, Myanmar, Russia, South Sudan, Sudan, Venezuela, Vietnam and New Zealand. ONGC Videsh is currently producing about 285,000 barrels of oil and oil equivalent gas per day and has total oil and gas reserves (2P) of about 704 MMTOE as on 1st April, 2017. For more information visit: https://www.ongcvidesh.com
About ONGC
ONGC’s market capitalization as on 30th June 2017 was INR 2,019 billion (US$ 31.25 billion). During the financial year ended 31st March, 2017, ONGC Group had produced 61.60 MMT of oil and oil equivalent gas (MMTOE) (approx. 1.23 MMboe per day); the Consolidated Gross Turnover was INR 1,421 billion (US$ 21 billion) during FY’17 and total consolidated oil and gas reserves were 1,818 MMTOE as on 31st March 2017. For more information visit: http://www.ongcindia.com
World Environment Day at ONGC Videsh
World Environment Day was celebrated at ONGC Videsh under the aegis of United Nations Environment Programme on the theme ‘Connecting people to nature’, which implores to get outdoor into nature, to appreciate its beauty and its significance and to take forward the call to protect the Earth.
Employees and families of ONGC Videsh participated with enthusiasm in various competitions. Awareness drive was carried out by HSE Group for one week on various topics related with Environment, which was well appreciated.
Mr. Narendra K. Verma, MD & CEO through his message to employees asked their individual commitment to do their best to restore the harmony between nature and man. He said “At individual level, each of us needs to understand the importance of nature, not only for us, but also for future generations to come. We must not only change ourselves, but also encourage and inspire others to change their habits and behavior by practicing 5 R (Refuse, Reduce, Reuse, Recycle and Recover), using energy efficient equipment like LED bulbs and BEE five star rating equipment, avoiding plastic bags and planting trees”.
World environment day was celebrated on 5th June at ONGC Videsh office chaired by Mr. P.K. Rao, Director (Operations) and attended by Regional Presidents, Heads of the Groups and employees.
Head HSE made a presentation covering environmental impacts of E&P industry. A video on impact of industrial activities on nature aroused the need to take corrective actions. On the spot quiz generated good response.
As a memorabilia to employees, energy saving manually operated multi utility dicer was unveiled during the occasion. The winners of various competitions were given attractive energy saving products as prizes.
Speaking on the occasion, Mr. A.K. Deshwal, ED and Regional President (Asia Pacific BU) narrated his experiences on the importance of environment given overseas and said that ONGC Videsh is embracing the best HSE standards while operating overseas. He appreciated the efforts of HSE team towards inculcating HSE culture in the organisation.
Mr. P K Rao Director (Operations) touched upon various measures being taken in the overseas operations for environment protection like zero waste discharge during drilling of well at Colombia, remediation of produced water by Reed plants at Sudan, good housekeeping at Installations etc. He emphasized that best practices of the projects should be shared and followed.
The celebrations concluded with the commitment of protecting the nature and the environment.
Greater Nile Petroleum Operating Co. Ltd. celebrates World Environment Day
GNPOC, being prudent operator, always remain in pursuit to take care of nature and do all possible efforts to protect the Earth. On occasion of World Environment Day 2017 tree plantation was carried out in Khartoum office and in field connecting with the theme ‘Connecting People to nature – in the city and on the land, from the poles to the equator’. Management Committee led by Mr. Chen Huanlong, President carried plantation at GNPOC Tower, Khartoum. Mr. Shibaji Mukhopadhyay, Manager (F) and MC Member and Mr. Ashok Deshpande, HSE Manager participated in the plantation ceremony. Mr.S.N.Gupta, DGM(D) participated in field plantation ceremony.
Handbook on Sexual Harassment of Women at Workplace
