Press Releases

ONGC Videsh Limited (OVL) is a wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Ltd. (ONGC) the National Oil Company of India, and is India’s largest upstream international oil and gas Company. OVL has signed a Memorandum of Understanding (MoU) on 7th February 2023 with YPF SA, Argentina on the sidelines of the maiden India Energy Week 2023 being held in Bangalore under the patronage of the Ministry of Petroleum & Natural Gas. The MOU seeks to enhance cooperation between the two companies in the energy sector, including but not limited to cooperation in the areas of exploration ...

Rajarshi Gupta has taken over as Managing Director of ONGC Videsh Limited (OVL) Schedule ‘A’ CPSE and subsidiary of ONGC, on 19th July 2022. Mr Gupta was recommended for the position by Public Enterprise Selection Board (PESB). Rajarshi Gupta has more than 33 years of wide-ranging experience in supervisory, managerial & strategic planning capacities in domestic and international operations of ONGC and ONGC Videsh. He has a keen business sense of the oil & gas industry, commercial and financial acumen, with mergers & acquisitions, strategic planning, and man management as his core strengths. During his professional career, he has worked in the ...

ONGC Videsh Limited (OVL), the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Ltd. (ONGC), the National Oil Company of India, has made an oil discovery in the recently drilled well, Urraca-IX, in CPO-5 block, Llanos Basin, Colombia. Well, Urraca-1X was spudded on 20th April 2022 and drilled to target depth (TD) of 10956 ft., encountering 17 ft thick oil-bearing sands at a depth from 10201ft -10218 ft. During initial testing with Electrical Submersible Pump (ESP), fluid flowed @ approx. 600 bbl./day with around 40-50% W/C and oil of 16oAPI. Oil discovery in the Lower Mirador ...

Anupam Agarwal has taken over as Director (Finance) of ONGC Videsh Limited on  18th June 2022, Schedule ‘A’ CPSE and subsidiary of ONGC. Mr Agarwal was recommended to the position by Public Enterprise Selection Board (PESB) on 28th February 2022 and has been appointed to the post by the President of India.  Prior to this, Mr Agarwal served as Executive Director (Finance) in ONGC since January 2020. Mr Agarwal is a fellow member of the Institute of Cost Accountants of India and an associate member of The Institute of Company Secretaries of India. He is an alumnus of Lucknow University, where he obtained ...

Omkar Nath Gyani has taken over charge as the Director (Operations) in the Board of ONGC Videsh Limited (OVL) – the international petroleum company of India. Mr Gyanihas rich experience of more than three decades in diverse aspects of reservoir and production management of onshore and offshore fields in ONGC, JV and OVL. Prior to joining in OVL, he was Asset Manager of the largest Onshore Asset – Mehsana. He steered the Asset to reverse the declining trend of production from matured fields and prepared a roadmap for unlocking the true potential of the Asset. Prior to leading Mehsana Asset, he headed ...

ONGC Videsh Limited (OVL) had registered a major gas discovery in 2019 in its deep offshore block BM-SEAL-4, Brazil, located in the Sergipe Alagoas Basin. Petrobras is the Operator of the block with 75% Participating Interest (PI) and in which partner ONGC Videsh holds 25% PI. ONGC Videsh Limited, after detailed evaluation, now enters into the development stage with the submission of Declaration of Commerciality (DoC) for the block BM-SEAL-4. The block development module of Petrobras envisages the installation of a shared FPSO and a gas pipeline. The name suggested to the Brazilian regulator for the field is Budião. The development module ...