Press Releases

ONGC Videsh Limited (ONGC Videsh) – a wholly owned subsidiary of ONGC, the National Oil Company of India, announces the arrival of its first equity cargo of Das blend crude oil to New Mangalore. The Das blend crude oil originates from the Lower Zakum (LZ) oilfield in Abu Dhabi, which currently produces approximately 400,000 barrels per day. ONGC Videsh led Indian Consortium acquired 10% PI in Lower Zakum Concession through its Dutch Joint Venture Company- Falcon Oil & Gas BV. The Indian Consortium led by ONGC Videsh include BPRL and IOCL. Other shareholders in the LZ concession are ADNOC (60%), ...

Financial results of ONGC Videsh Ltd, the wholly-owned subsidiary of Oil and Natural Gas Corporation Limited (ONGC), for the year ended March 31, 2018 were considered and approved by the Board in its meeting held on May 23, 2018. The performance highlights are as under: Consolidated Production of Crude Oil and Oil Equivalent Gas during FY’18 was higher by 11% as compared to previous year. The incremental production was mainly from Vankorneft & Sakhalin-1 projects, Russia; BC-10 project, Brazil; an Exploratory Block CPO-5, Colombia and due to acquisition of 4% stake in the Lower Zakum Concession project in UAE during the ...

ONGC Videsh Limited (ONGC Videsh)- a wholly owned subsidiary of ONGC, the National Oil Company of India, announces that the Government of Mozambique has accorded approval for the Development Plan for Golfinho-Atum natural gas field in the Area 1 block located in the Rovuma Offshore Basin of Mozambique. The plan outlines the integrated development of the Golfinho-Atum field through an initial two-train onshore liquefaction plant with a total processing capacity of 12.88 MMTPA. The approval of the Development Plan is the culmination of several years of progress on technical and commercial aspects of the development.The Golfinho-Atum Project will also supply ...

ONGC Videsh led Indian Consortium has been awarded 10% Stake in Lower Zakum Concession, Offshore Abu Dhabi. The Concession award by the Supreme Petroleum Council (SPC), on behalf of the Abu Dhabi government, to the Abu Dhabi National Oil Company (ADNOC) and the Indian Consortium, is the first time that Indian oil and gas companies have been given a stake in the development of Abu Dhabi’s hydrocarbon resources. The Indian Consortium comprising of Indian Petroleum Sector Public Enterprises is led by ONGC’s international arm ONGC Videsh and includes Indian Oil Corporation Limited and the international arm of Bharat Petroleum Corporation Limited (Bharat PetroResources Limited). ...

ONGC Videsh receives Golden Peacock Award for Risk Management ONGC Videsh received Golden Peacock Award for Risk Management 2017 instituted by the Institute of Directors (IOD) on 14th December 2017 during Global Convention on Corporate Ethics & Risk Management held at Singapore. (Executive Committee with Risk management team during Award trophy and Citation handover) A presentation on the Enterprise Risk Management system at ONGC Videsh bringing out its major initiatives and distinguished features was presented in the Global Convention at Singapore by Mr. Arun Mittal, Head – Risk. Mr. Narendra Kumar Verma, Managing Director, while complimenting Team ONGC Videsh on this achievement, exhorted ...

Financial results of ONGC Videsh Ltd, the wholly-owned subsidiary of ONGC, for the half year ended September 30, 2017 were considered and approved by the Board in its meeting held on November 13, 2017. The performance highlights are as under: Consolidated Crude Oil and Oil Equivalent Gas production during H1FY’18 was higher by 28.14% at 7.013 MMTOE mainly due to acquisition of additional 11% stake in Vankorneft project in Russia in October 2016. The Company recorded its standalone profit of ₹ 134 crore during H1 FY’18 as against profit of ₹ 491 crore during H1 FY’17 mainly due to forex movements and ...