one of the eight Mahartna Central Public Sector Enterprises in India. It is a Public Sector Undertaking (PSU) of the India.
It has been working under the administrative control of the Ministry of Petroleum and Natural Gas. The earlier headquarter was located in Dehradun, Uttarakhand , India. Now it is moved to Deendayal Urja Bhavan, Vasant Kunj, and New Delhi.
It is India’s largest oil and gas exploration and production company. The ONGC crude oil production capacity is around 70% of the nation’s overall production of crude oil. This almost quenches the thirst of the country’s total oil demand and proportionately the natural gas production is around 62% of the total county’s natural gas production. It registered gross revenue of INR 77,907 Cr in FY’17, against INR 77740 Cr in FY’16. As per the government survey for fiscal year 2016-17, it was ranked as the largest profit making PSU in India. It is ranked 11th among the Top 250 Global Energy Companies by S&P Global Platts ONGC Videsh Limited (OVL)ONGC Videsh is the international subsidiary of ONGC.
It was launched on 15 June 1989. It is a Miniratna Schedule “A” Central Public Sector Enterprise (CPSE) of the Government of India. It works under the administrative control of the Ministry of Petroleum & Natural Gas. The primary objective of the ONGC Videsh is to be a world-class exploration and production company providing energy security to the country and business prospect for oil and gas operations outside India, including exploration, development and production of oil and gas. It currently has 41 projects across 20 countries. The recent domestic production capacity for the year of 2018 is about 26.2% in oil and 20.
7% in oil and natural gas. ONGC Videsh is the second largest petroleum company in India, nest to its parent ONGC in terms of the production and its assets.ONGC Videsh adopts a balanced portfolio approach and maintains a combination of producing, discovered, exploration and pipeline assets. ONGC Videsh has been working in 41 oil and gas projects in 20 Countries. The countries include Azerbaijan, Bangladesh, Brazil, Colombia, Iran, Iraq, Israel, Kazakhstan, Libya, Mozambique, Myanmar, Namibia, New Zealand, Russia, South Sudan, Sudan, Syria, UAE, Venezuela, and Vietnam. The total portfolio of ONGC Videsh in the assets wise are 15 Assets in oil and gas production, 4 Assets where hydrocarbons have been discovered and are at various stages of development, 18 Assets are under various stages of Exploration and 4 projects are pipeline projects.Over the years, ONGC Videsh has developed inherent capabilities and expertise in its areas like exploration, development and production of oil and gas.
ONGC Videsh has enhanced its capabilities by strong partnership alliance with a host of national and international oil companies including ExxonMobil, British Petroleum, Shell, ENI, Total, Repsol, Statoil, Chevron, Petrobras, Sodeco, Socar, Rosneft, ADNOC, Daewoo, Kazmunaigaz (KMG), Petro Vietnam, CNPC, Sinopec, PDVSA, Petronas, Anadarko and Ecopetrol. It has fortified its core expertise in due diligence, techno-commercial evaluations, bid negotiations and transaction documentations.The overall oil and mining investment of Indian in Africa is around 11.1% of the total Indian investment in Africa. ONGC Videsh has invested around $8 billion in Africa so far and plans to double this investment over the next 3-4 years. Greenfield investments (GIs) have been the dominant entry mode in African Investments in Oil and mining sector. ONGC Videsh invested around US$12.
5mn in the form of Greenfield Investment in Ivory Cost for Oil and mining in the year of 2002. In the petroleum industry as well ONGC Videsh has invested around US$600mn as Greenfield Investment in Angola in 2004. The Greenfield Investment was expanded in Nigeria about 6 billion for the operations in Coal, Oil and natural gas.
ONGC Videsh is currently scouting for oil & gas opportunities in Angola, Algeria and Equatorial Guinea and looking forward in oil and gas assets in Mozambique, Libya, Sudan and South Sudan.