• ONGC ranks as the Numero
Uno Oil & Gas Exploration & Production (E&P)
Company in the world, as per Platts 250 Global Energy
Companies List for the year 2008 based on assets, revenues,
profits and return on invested capital (ROIC).
• ONGC ranks 20th among the Global publicly-listed
Energy companies as per ‘PFC Energy 50”
(Jan 2008)
• ONGC is the only Company from India in the
Fortune Magazine’s list of the World’s
Most Admired Companies 2007.
• Occupies 152nd rank in “Forbes Global
2000” 2009 list (up 46 notches than last year)
of the elite companies across the world; based on
sales, profits, assets and market valuation during
the last fiscal. In terms of profits, ONGC maintains
its top rank from India.
• ONGC ranked 335th position as per Fortune
Global 500 - 2008 list; up from 369th rank last year,
based on revenues, profits, assets and shareholder’s
equity. ONGC maintains top rank in terms of profits
among seven companies from India in the list.
Represents India’s Energy Security
ONGC has single-handedly scripted India’s
hydrocarbon saga by:
• Establishing 6.61 billion tonnes of In-place hydrocarbon
reserves with more than 300 discoveries of oil and gas;
in fact, 6 out of the 7 producing basins have been discovered
by ONGC: out of these In-place hydrocarbons in domestic
acreages, Ultimate Reserves are 2.36 Billion Metric tonnes
(BMT) of Oil Plus Oil Equivalent Gas (O+OEG).
• Cumulatively producing 788.273 Million Metric
Tonnes (MMT) of crude and 463 Billion Cubic Meters (BCM)
of Natural Gas, from 111 fields.
• ONGC has bagged 85 of the 162 Blocks (more than
50%) awarded in the 6 rounds of bidding, under the New
Exploration Licensing Policy (NELP) of the Indian Government.
• ONGC’s wholly-owned subsidiary ONGC Videsh
Ltd. (OVL) is the biggest Indian multinational, with 44
Oil & Gas projects (7 of them producing) in 18 countries,
i.e. Vietnam, Sudan, Russia, Iraq, Iran, Myanmar, Libya,
Cuba, Colombia, Nigeria, Nigeria Sao Tome JDZ, Egypt,
Brazil, Congo, Turkmenistan, Syria, Venezuela and United
Kingdom. OVL has a committed overseas investment of over
5 billion US dollars.
India’s
Most Valuable Public Sector Enterprise
• Ranked as the most respected Public Enterprise
in India in 2007 “Business World Survey, with 19th
position in the league of the most-respected Indian Corporate(s).
• Rated ‘Excellent’ in MOU Performance
Rating for 2006-07 by the Department of Public Enterprises,
Ministry of Heavy Industries in Public Enterprises, GOI.
• Oil Industry Safety Directorate (OISD) has selected
Ahmedabad Asset and MRPL for the year 2006-07 (as number
one in Group-4 category (Oil & Gas Assets) and Second
in Group-1 Refinery category respectively).
• Topped the visibility metrics in Indian Oil and
Gas Sector and the only PSU in the top 10 list of Indian
Corporate newsmakers.
•”Golden Peacock Global Award 2007 for Excellence
in Corporate Governance 2007”, for the 3rd consecutive
time, conferred by World Council for Corporate Governance.
• Bagged the coveted winner’s trophy of the
maiden “Earth Care Award for excellence in climate
change mitigation and adoption” under the category
of GHG mitigation in the small/medium and large enterprises.
• Conferred with “Infraline Energy Excellence
Award” for its services to the Nation in Oil &
Gas Exploration and Production category.
• Bestowed with “Amity Award for Excellence”
in Cost Management.
Pioneering
Efforts
ONGC is the only fully–integrated petroleum company in India,
operating along the entire hydrocarbon value chain:
Holds largest share of hydrocarbon acreages in India.
Contributes over 80 per cent of Indian’s oil and gas
production.
About one tenth of Indian refining capacity.
Created a record of sorts by turning Mangalore Refinery
and Petrochemicals Limited around from being a stretcher
case for referral to BIFR to the BSE Top 30, within a
year.
Interests in LNG and product transportation business.
Competitive Strength
All crudes are sweet and most (76%) are light, with
sulphur percentage ranging from 0.02-0.10, API gravity
range 26°-46° and hence attract a premium in the
market.
Strong intellectual property base, information, knowledge,
skills and experience
Maximum number of Exploration Licenses, including competitive
NELP rounds. ONGC has bagged 85 of the 162 Blocks (more
than 50%) awarded in the 6 rounds of bidding, under the
New Exploration Licensing Policy (NELP) of the Indian
Government.
ONGC owns and operates more than 15000 kilometers of
pipelines in India, including nearly 3800 kilometers of
sub-sea pipelines. No other company in India, operates
even 50 per cent of this route length.
Strategic Vision: 2001-2020
To focus on core business of
E&P, ONGC has set strategic objectives of:
Doubling reserves (i.e. accreting 6 billion tonnes of
O+OEG).
Improving average recovery from 28 per cent to 40 per
cent.
Tie-up 20 MMTPA of equity Hydrocarbon from abroad.
The focus of management will be to monetise the assets
as well as to assetise the money.
Sourcing
Equity Oil Abroad
ONGC’s overseas arm ONGC Videsh Limited (OVL),
continued to maintain robust growth during 2007-08. It
acquired 11 E&P Projects in 6 countries during the
year.
ONGC Videsh Ltd. (OVL) signed a joint venture agreement
with Petroleous de Venezuela SA (PDVSA) on 8th April,
2008 at Caracus to take 40% stake in the San Cristobal
oilfield located in Orinoco Heavy Oil belt of Venezuela;
PdVSA will hold the remaining 60% stake.
The agreement was signed by Mr. R.s. Butola, MD, OVL
and Mr. Eleogao Del Pino, MD, PdVSA during the visit of
Mr. Murali Deora, Hon’ble Minister of P&NG,
GOI. Under the agreement OVL and PdVSA will develop the
field from its current production level of 20,000 bbl/d
to 40,000 bbl/d.
The company now has participation in 44 projects in
18 countries. Of the projects acquired, NEMED Block in
Egypt offshore is under appraisal phase; Blocks AD-2,
AD-3 and AD-9 in Myanmar offshore; Blocks RC-8, RC-9 and
RC-10 in Colombia offshore; Blocks ES-M-470 and SM-1413
in Brazil offshore; MTPN Block in Congo offshore and Block
11-12 in Turkmenistan offshore are under exploration phase.
The Turkmenistan Block is held through ONGC Mittal Energy
Limited (OMEL), a joint venture of OVL and Mittal Investment
Sarl.
Out of 44 Projects, OVL is operator in 18 projects and
joint operator in 2 projects in 11 countries. OVL is currently
producing oil and gas from Greater Nile Oil Project and
Block 5A in Sudan, Block 6.1 in Vietnam, Al Furat Project
in Syria, Sakhalin-I Project in Russia and Mansarovar
Energy Project in Colombia. Block BC-10 in Brazil is currently
under development with production expected to being in
2009-10, Block A-1 and A-3 in Myanmar, North Ramadan Block
and NEMED in Egypt and Farsi Offshore Block in Iran have
discoveries and appraisal work is being carried out. The
remaining projects are in exploration phase.
OVL’s share of production of oil and oil-equivalent
gas (O+OEG), together with its wholly owned subsidiaries
ONGC Nile Ganga B.V. and ONGC Amazon Alaknanda Limited,
increase from 7.95 MMTOE to 8.80 MMTONE, up 10.7%. Consolidated
gross revenue of OVL increased from Rs.118,610 million
to Rs.169,540 million, up 42.93% and consolidated net
profit from Rs.16,633 million to Rs.23,971 million, up
44.12%.
ONGC’s strategic objective of sourcing 20 million
tonnes of equity oil abroad per year is likely to be fulfilled
well before 2020.
Frontiers
Of Technology
• State-of-the-art seismic data
acquisition, processing and interpretation facilities
• Uses one of the Top Ten Virtual Reality Interpretation
facilities in the world
• Alliances with Transocean, Schlumberger, Halliburton
and Baker Hughes, IPR, Petrobras, Norsk, ENI, Shell
• One of the biggest ERP implementations in the
Asia
Best In Class Infrastructure And Facilities
• ONGC’s success rate is
at par with the global norm and is elevating its operations
to the best in class level, with the modernization of
its fleet of drilling rigs and related equipment.
• ONGC has adopted Best-in-class business practices
for modernization, expansion and integration of all Info-com
systems.
Onshore
• Production Installations :- 240
• Pipeline Network (km) :- 15,800
• Drilling Rigs :- 70
• Work Over rigs :- 74
• Seismic Units :- 29
• Logging Units :- 32
• Engineering Workshops :- 2
• Virtual Reality Centre :- 5
• Regional Computer Centre :- 5
Offshore
• Well Platforms :- 147
• Well-cum-Process Platforms :- 32
• Process Platforms :- 13
• Drilling Rigs :- 29
• Pipeline Networks (km) :- 4,500
• Offshore Supply Vessels :- 55
• Special Application Vessels :- 4 (including 2
MSV)
• Seismic Vessels :- 1
Financials (2008-09)
• ONGC posted a net profit of Rs. 161.26 billion despite
volatile oil markets and crude prices.
• Net worth Rs. 781 billion
• Practically Zero Debt Corporate
• Contributed over Rs. 280 billion to the exchequer
The Road
Ahead
ONGC looks forward to become
an integrated energy provider, with:
• New Discoveries and fast track development
• Equity Oil from Abroad
• Downstream Value Additions & Forward Integration
• Leveraging state-of-the art technology and global
best practices