Oil and Natural Gas Corporation Limited (ONGC) - India

Company Profile

“Making Tomorrow Brighter”

Maharatna ONGC is the largest crude oil and natural gas company in India, contributing around
75 percent to Indian domestic production. Crude oil is the raw material used by downstream
companies like IOC, BPCL, and HPCL (a subsidiary of ONGC) to produce petroleum products like
Petrol, Diesel, Kerosene, Naphtha, and Cooking Gas-LPG. This largest natural gas company ranks
11th among global energy majors (Platts). It is the only public sector Indian company to feature
in Fortune’s ‘Most Admired Energy Companies’ list. ONGC ranks 18 th in ‘Oil and Gas operations’
and 220 overall in Forbes Global 2000. Acclaimed for its Corporate Governance practices,
Transparency International has ranked ONGC 26th among the biggest publicly traded global
giants. It is the most valued and largest E&P Company in the world, and one of the highest
profit-making and dividend-paying enterprise.

ONGC Videsh is a wholly-owned subsidiary of ONGC, the National Oil Company of India, and is
India’s largest international oil and gas company. ONGC Videsh has participation in 39 projects
in 19 countries namely Azerbaijan, Bangladesh, Brazil, Colombia, Iraq, Israel, Iran, Kazakhstan,
Libya, Mozambique, Myanmar, Namibia, Russia, South Sudan, Syria, United Arab Emirates,
Venezuela, Vietnam, and New Zealand. ONGC Videsh maintains a balanced portfolio of 14
producing, 4 discovered/under development, 18 exploratory, and 3 pipeline projects.

Major highlights and milestones of the fiscal year 2018-19 of ONGC are as follows:

I. ONGC’s standalone O+OEG production during 2018-19 was 45.86 MMtoe, an increase of
0.2% w.r.t. 2017-18 (45.79 MMtoe).
II. Natural gas production during 2018-19 was 24.75 BCM which was 5.4% more than the
production during 2017-18.
III. ONGC’s gas production recorded an all-time high of 71 MMSCMD in November 2018
mainly due to ramping up of production from Daman in Western offshore, S1-Vashistha
in Eastern offshore and Tripura in Onshore.
IV. Production of Value Added Products (VAP) increased by 7.56% (3,641 KT 2018-19
against 3,385 KT in 2017-18).

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 V. 516 wells drilled during 2018-19 as compared to the year 2017-18; an increase of ~ 3 %
(y-o-y basis).Drilled more than 500 wells in the last three consecutive years.
VI. Drilled 411 development wells (including sidetracks); the highest in the history of the
Company.
VII. Total 17 discoveries monetized during 2018-19 including 5 discoveries (3 pool and 2
Prospect) made during 2018-19.
VIII. Revenue from operations was at `1,096,546 million against `850,041 million in FY’18.
IX. Net profit (PAT) was at `267,158 million against `199,453 million during FY’18.

Technological advancements of the company include Development of methodologies for oil to

oil correlation using compound-specific isotopic analysis of biomarkers (CSIB) and Total
Scanning Fluorescence Spectrophotometry (TSF), Intrepid Software for processing and
interpretation of potential field geophysics data: ground, airborne and marine surveys,
Chemical Tracer test, Several MEOR jobs in huff-n-puff mode and PDB jobs for paraffin
degradation in tubular in Mehsana & Ankleshwar Assets, Immiscible gas injection in Borholla
field, Miscible CO2 in Gandhar field, Developed software “MATCAP” for analysis of bearing
capacity of offshore shallow foundations, Collaborative project with IIT-Delhi on “Development
of direct hydrocarbon solid oxide fuel cell (SOFC) for utilization of low-pressure gas for power
generation at remote locations” etc and much more during the past performance years.

Frontiers of the ONGC includes 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, Baker Hughes, IPR, Petrobras,
Norsk, ENI and Shell, one of the biggest ERP implementations in the Asia and eyeing Complete
paperless office by 2030.

This largest energy company has a vast pool of skilled and talented professionals – the most
valuable asset for the company. ONGCians dedicate themselves for the excellent performance
of the company. ONGC extends several welfare benefits to the employees and their families by
way of comprehensive medical care, education, housing, and social security.

Major challenges for the company are overcoming the traditional ways and absorbing the fast
and accurate ways of production. Apart from hydrocarbons business, ONGS is well active in
social activities, sports, serving the community, participation in international conferences, etc.
ONGC has 4 refineries as well and it is well active in mid-stream and downstream business,
wind energy production, solar power production and usage. ONGC is performing like a king of
oil and gas around and will keep setting bars high for the other competitors.

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 References

 Natural Gas Corporation Limited. (n.d.). ONGC Corporate Profile - The Largest Energy
Company in India. Retrieved from https://www.ongcindia.com/wps/wcm/connect/en/about-
ongc/ongc-at-a-glance/corporate-profile/
 https://economictimes.indiatimes.com/oil-and-natural-gas-corporation
ltd/profitandlose/companyid-11599.cms
 ONGC Annual Report 2018-19
 ONGC Annual Report 2017-18

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