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 6.349 MMT of Oil & 10.171 MMTOE of Oil & Gas in FY’23 which is 21.7% and 16.0% of India’s domestic production respectively. (Source: PPAC)
Current Assets Portfolio
ONGC Videsh has 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 4 Countries.
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.
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 Apsheron AS, MOL, Petrobras, Sodeco, AzACG, Rosneft, ADNOC, PoscoInternational, 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, 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.
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
Our Footprints
ONGC Videsh has 32 projects in 15 countries:
Azerbaijan (2 projects) | Bangladesh (2 Projects) | Brazil (2 projects) |
Colombia (4 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) | Vietnam (2 projects),