About ONGC Videsh

ONGC Videsh Limited – A Navratna Company Working globally for the Energy Security of India

Introduction

ONGC Videsh Limited, now a Navratana 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 32 oil and gas assets in 15 countries. In terms of reserves and production, ONGC Videsh is the second largest petroleum company of India, next only to its parent ONGC.

ONGC Videsh produced 7.178 MMT of Oil & 10.518 MMTOE of Oil & Gas in FY’24 which is 24.4% and 16.0% of India’s domestic production respectively. (Source: PPAC)

Assets Portfolio:

ONGC Videsh, a global leader in oil and gas exploration and production, holds stake in 32 oil and gas projects in 15 countries, viz. 2 projects in Azerbaijan, 2 projects in Bangladesh, 2 projects in Brazil, 4 projects in Colombia, 1 project in Mozambique, 6 projects in Myanmar, 3 projects in Russia, 2 projects in South Sudan, 1 project in UAE, 2 projects in Venezuela, 2 projects in Vietnam and other 5 dormant projects in four countries that are currently inactive.

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, 11 Assets are under various stages of Exploration and 3 projects are pipeline projects. This mix ensures a sustainable pipeline for future production and reinforces ONGC Videsh commitment to long-term energy security.

Competitive Strengths:

ONGC Videsh operates in highly competitive international oil and gas sector, going head-to-head with the industry’s top players. This competitive environment has fostered the development of strong inherent capabilities and expertise in all areas of their operations. Over the years, ONGC Videsh has forged strategic alliances with a prestigious group of International Oil Companies (IOCs) and National Oil Companies (NOCs). This impressive list includes industry giants like ExxonMobil, British Petroleum, Shell, ENI, Total, Repsol, Equinor Apsheron AS, MOL, Petrobras, Sodeco, AzACG, Rosneft, ADNOC, Posco International, Petro Vietnam, CNPC, Sinopec, PDVSA, Petronas, Ecopetrol and many more. These partnerships provide valuable expertise and collaboration opportunities.

ONGC Videsh boasts a highly skilled workforce with exceptional technical and management capabilities. This team is equipped to handle all aspects of oil and gas project development, from evaluation and interpretation to design and execution. Additionally, they benefit from the ongoing technical and human resource support provided by their parent company, ONGC.Beyond a skilled workforce, ONGC Videsh has developed core expertise in crucial areas like due diligence, techno-commercial evaluations, bid negotiations, and transaction documentation. This comprehensive skillset allows them to navigate the complexities of oil and gas projects from start to finish.