Tuesday, 08 November 2022 | PNS
The Maharatna entity Oil and Natural Gas Corporation Limited (ONGC) is the largest crude oil and natural gas company in India which contributes about 71 per cent to Indian domestic production. The corporation continues to fuel the nation, its economy and is an integral part of India’s developmental plans and efforts. ONGC has a unique distinction of being a company with in-house service capabilities in all areas of exploration and production of oil and gas, and related oil-field services. This public sector enterprise has a dedicated team of about 27,000 professionals who work round the clock in challenging locations.
ONGC Videsh Limited, a Miniratna Schedule “A” Central Public Sector Enterprise (CPSE) of the Government of India under the administrative control of the Ministry of Petroleum and Natural Gas, is the wholly owned subsidiary and overseas arm of ONGC, the flagship national oil company of India. ONGC Videsh owns Participating Interests in 35 oil and gas assets in 15 countries and produced about 30.3 per cent of oil and 23.7 per cent of oil and natural gas of India’s domestic production. In terms of reserves and production, ONGC Videsh is the second largest petroleum company of India, next only to its parent ONGC.
ONGC is the only fully–integrated oil and gas company in India, operating along the entire hydrocarbon value chain. It has single-handedly scripted India’s hydrocarbon saga. It has discovered seven out of the eight oil and gas producing basins in India. It is also the largest energy company in India which has established 8.98 billion tonnes of in-place hydrocarbon reserves. ONGC has to its credit more than 570 discoveries of oil and gas with ultimate reserves of 3.13 billion metric tonnes (BMT) of Oil Plus Oil Equivalent Gas (O+OEG) from domestic acreages. It has cumulatively produced 1,042 Million Metric Tonnes (MMT) of crude and 715 Billion Cubic Metres (BCM) of natural gas. ONGC’s wholly-owned subsidiary ONGC Videsh Limited (OVL) is the biggest Indian multinational, with 35 oil and gas assets in 15 countries. ONGC produces over 1.26 million barrels of oil equivalent per day, contributing around 71 per cent of India’s domestic production. Out of this, over 76 per cent of crude oil produced is light and sweet. The company holds the largest share of hydrocarbon acreages in India (61 per cent in PEL areas and 81 per cent in ML areas). ONGC possesses about 15 per cent of the total Indian refining capacity. This E&P company has a well-integrated hydrocarbon value chain structure with interests in LNG and product transportation business as well. It is a unique organisation in the world to have all operative offshore and onshore installations (555) accredited with globally recognised certifications. Total blocks awarded to ONGC and consortium under NELP was 130 blocks; 116 ONGC operated and 14 as consortium/joint ventures.
With its capabilities, achievements and future plans, the ONGC remains a strong component of the nation’s backbone and and integral part of its developmental plans and efforts.
