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Largest energy companies in India

CMD felicitated with Honorary Fellowship of IIChE at CHEMCON 2012 Mr. Sudhir Vasudeva, CMD ONGC visited Dr B R Ambedkar National Institute of Technology, Jalandhar to deliver prestigious Dr H L Roy Memorial Lecture. Dr H L Roy is known as ultimate genius in India's Chemical Engineering horizon whose great vision not only pioneered the Chemical Engineering education in the country, but also led to institutionalization of the apex body of Chemical Engineers - Indian Institute of Chemical Engineers (IIChE) - in the year 1947.The visit tuned out to be a memorable one for CMD Mr. Sudhir Vasudeva as he was felicitated with the Honorary Fellowship of Indian Institute of Chemical Engineers (IIChE). While receiving the prestigious fellowship Mr. Vasudeva thanked IIChE for considering him worthy for its Honorary Fellowship. Mr. Vasudeva received the fellowship with utmost pride and humility on behalf of thousands of energy soldiers of the nation. He said that he would cherish this honour throughout the life as it will encourage him every day to strive even harder in pursuit of energy security of the country.IIChE presently has over 11,000 corporate members, 35 regional Centres and 98 student chapters and has been one of the most distinguished platforms for contribution towards the technological progress of the country. CMD also complimented Dr. BR Ambedkar National Institute of Technology, Jalandhar on its Silver Jubilee and holding the CHEMCON-2012 as a befitting tribute to the occasion. The theme for CHEMCON 2012 is 'Sustainable Technologies for Energy and Environment in Process Industries'.Delivering the memorial lecture as a Chemical Engineer himself, Mr. Vasudeva dwelt upon the theme which does not talk about 'sustainable development', but refers to the 'sustainable technologies' and endorsed the view that the 'Sustainable Technologies' are required to deliver the result as far as environmentally acceptable form of energy is concerned.Speaking on the vast subject of process industry, Mr. Vasudeva focused his talk on oil & gas industry - the most prolific process industry supplying the largest amount of energy to world's primary energy basket which is also one of the most controversial industries as far as sustainable development is concerned. Mr. Sudhir Vasudeva, CMD ONGC at CHEMCON 2012During the lecture CMD dwelt upon Global & Indian Energy Outlook and Technological Perspectives and mentioned that global energy demand will be about 30 percent higher in 2040 compared to 2010, as economic output more than doubles and prosperity expands across a world whose population will grow to nearly 9 billion people. However, energy demand growth will slow down as economies mature, efficiency gains acceleration and population growth moderates.Touching upon revolution in information dissemination brought about by information technology Mr. Vasudeva mentioned that the changes are faster now and the technology gestation period is lesser. Growing awareness of environmental sensitivity coupled with technological breakthroughs; especially in non-conventional frontier like Shale gas production or LNG regasification and transportation etc. the fuel mix in the global energy basket has been changing fast. Mr. Sudhir Vasudeva delivering Dr. H L Roy Memorial Lecture at CHEMCON 2012Adding a silver lining in global energy scenario CMD ONGC mentioned that with an optimistic global energy outlook, one thing is clear that there is no forecast of any shortage of energy, rather it is said by many experts that the world is awash with oil as well as other forms of energy; it is only the technology and entrepreneurship that would harness this abundance of energy for the utilization of mankind. With the rapid pace of technological advancements and huge investments by governments as well as private companies, the energy supply front is hopefully well geared to match the demand howsoever staggering it might appear to be.Sensitizing the audience regarding investments in energy sector, Mr. Vasudeva shared that forecasted global investment in energy supply infrastructure will be of the order of about $38 trillion over the period 2011 to 2035. Oil and gas industry alone will account for almost $20 trillion. Though major chunk of this budget is expected to be spent in exploring and exploiting new frontiers like deepwater and arctic, a substantial amount will be spent in developing and improving the process technologies required for processing and using the new oil and gas in more sustainable manner.Mr. Vasudeva made a mention of upcoming areas of research like Novel mixed metal oxides for GTL (Gas to Liquid) technology, Syn-gas technology or novel de-hydrogenation; organic-inorganic hybrids, organometallics or iono-liquids etc. which will play major role in the refining industry. He urged that Chemical Engineers associated with this industry would have to be increasingly aligned to inventing and adopting environment-friendly use of coal, oil and gas on one hand; and on the other hand, they have to continuously look for increasing sourcing, processing and applications of biofuels. He further said that given the accounts of energy demand and supply for the country, given the importance of technology particularly in the realm of process industry and having noted that something is being done in terms of sustainable technologies for energy security of the nation and global environment, there is a need to do much more. Prestigious plaque being presented to CMD for delivering memorial lectureConcluding his lecture CMD ONGC said that from the deliberations on global as well as India's energy perspectives, it is obvious that the dominance of fossil fuels as primary source of energy will continue in the foreseeable future. And hence our technological endeavors need to be perpetually focused towards the objective of harnessing energy in cleaner and greener form from these apparently 'unclean' resources. As far as fundamental research and applications are concerned, India as a nation needs improvement and needs to do much more. As regards to investment in R&D, globally energy industry is not at par with other industries like pharmaceuticals or FMCG industries manufacturing luxury items and India is no exception. He expressed due concern that neither our industries, nor the academia are equipped or have adequate encouragement in terms of incentives or resources to pursue fundamental R&D at a global scale.Mr. Vasudeva also mentioned about National Innovation Council constituted by Prime Minster under the Chairmanship of Mr. Sam Pitroda which aims among other things to promote creativity and nurture innovations and also inspire India's scientific temper for innovation. One of the initiatives of council is to set up twenty Design Innovation Centres co-located in institutes of national importance like IITs and NITs, an Open Design School (ODS) and a National Design Innovation Network (NDIN). CMD ONGC encouraged academia present during CHEMCON 2012 to take the full advantage of this initiative. He also suggested that IIChE should take special initiative to explore if Chemical Engineering departments in different corners of the country could be connected through this NDIN and synergize their strengths. It was also suggested that the relevant companies having requisite process expertise may also be roped in as member of this network. Medallion for Felicitation of Mr. Vasudeva with Honorary Fellowship of IIChEThe thought provoking memorial lecture by Mr. Sudhir Vasudeva was highly appreciated by intelligentsia and senior academicians present at CAMCON 2012 from premier technological institutes of India. New insight into energy industry & reassurance about future energy supply from CEO of largest energy company of the nation was highly reassuring for the academic fraternity as well as for budding young engineers.Mr. Vasudeva was also presented a cheque of Rs. 50,000/- by IIChE for delivering the Dr H L Roy Memorial Lecture, which he has donated to NIT, Jalandhar for supporting / motivating the needy meritorious students.

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Maharatna ONGC is the largest crude oil and natural gas Company in India, contributing around 70 per cent to Indian domestic production.

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Clean development mechanism by ONGC India

ONGC inks MoU with NTPC for Enhanced Oil recoveryOil and Natural Gas Corporation (ONGC) signed a landmark MoU with NTPC for CO2 based Enhanced Oil Recovery in Gandhar field by injecting CO2 captured from NTPC’s Jhanor Thermal power plant today.Emphasizing the need for sustained campaign to reduce carbon footprints, Mr. Shashi Shanker, CMD-ONGC said, “In line with the vision of Hon’ble Prime Minister on Climate change, an approach focusing on sustainability should be embedded in all ONGC operations with an aim to maximize carbon neutrality” Speaking on the occasion, Mr. A.K. Dwivedi, Director (Exploration)-ONGC said, “This is one of the major sustainable initiatives taken up by ONGC, aiming to support India’s low carbon development goal. ONGC plans to utilize CO2 as potential agent for EOR and in the process achieve Geological sequestration of atmospheric CO2, leading to significant emission curtailment. ”The collaboration under this MoU focusses on development of CO2 Capture plant at mutually identified site with appropriate commercially-available Carbon capture technology, development of viable business model, inclusion of this project as part of national emission curtailment measure aimed at supporting country’s low-carbon development goals and obtaining government and international grants.A similar MoU was recently signed with ITPCL (IL&FS Tamil Nadu Power Company Limited) for utilization of captured CO2 from its thermal power plant for CCUS operations.Feasibility study have been carried out in Gandhar field, Gujarat and Kamalapuram field, Tamil Nadu for setting up CCUS. This has the potential to enhance oil recovery in range of 8-15% over water flood and to sequester ~7.5 MMt of CO2 in 20 years timeframe.ONGC has already taken several significant measures to reduce carbon footprints, with fifteen registered Clean Development Mechanism (CDM) projects registered under United Nations Framework Convention on Climate Change (UNFCCC) with that yield (potential) Certified Emission Reductions (CER) approx. 2.1 million yearly. ONGC Tripura Power Corporation Limited (OTPC), is one of the biggest CDM projects in the world, fetching 1.6 million carbon credits per year to the Maharatna.Through this, ONGC plans to develop an emission mitigation tool to combat climate change and simultaneously increase production from mature fields to fulfill Hon’ble Prime Minister’s vision of 10% oil import reduction by 2022 and keep up India’s commitment to COP 21 for reducing reduce emissions to limit global temperature rise below 2 Celsius.

click here to read more about the clean development mechanism. 

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The biggest Indian crude oil producer, ONGC fuelled big news by sending its homegrown team of amateur mountaineers, inspired and transformed by the unique motivational and engaging culture of this oil major on the Mount Everest summit

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The biggest Indian crude oil producer, ONGC fuelled big news by sending its homegrown team of amateur mountaineers, inspired and transformed by the unique motivational and engaging culture of this oil major on the Mount Everest expedition

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Mount everest summit by ONGC India

ONGC Team summits Mt Kanchenjunga

A team of ONGC has successfully summited the third highest and most challenging peak, Mt Kanchenjunga. The first group comprising five ONGC employees completed the mission on 20th May, while the second group of four ONGC employees and one Indian Mountaineering Foundation member summited the peak today. With this, ONGC, whose team also scaled the Everest last year, becomes the first Corporate in the world to accomplish this difficult and unique feat.

The team attempted the summit in 2 groups, with the first group, comprising of Expedition leader Nirmal Kumar, Pankaj Joshi, Monti Rajkhowa, Palkesh G Kalma and Gaurav Kadian scaling the peak at around 8:15 am Nepal Time on 20th May, 2018 and the second group comprising of Yogender Garbiyal, Rahul Jarngal, Akash Bavariya, Surendra Prasad Jakhmola and Indian Mountaineering Foundation’s Sheetal scaling the peak today at around 3:40 am Nepal Time.The Kanchenjunga expedition team had three women members, out of which ONGCian Monti Rajkhowa and IMF’s Sheetal successfully summited the peak while Shipra Batra, another ONGCian accompanied the team as support staff. Monti Rajkhowa was also part of the Everest expedition last year, scaling up to camp 4 at an altitude of 8000 m. Summiteers Nirmal Kumar, Rahul Jarngal and Yogender Garbiyal were also part of the team that scaled the Everest last year, a unique accomplishment.Congratulating the team on its momentous feat, ONGC CMD Mr Shashi Shanker said, “This is a unique achievement which will inspire all ONGCians. ONGC continues its tradition of creating new milestones and scaling new heights.”ONGC Director (HR) Mr. D D Misra, who is the driving force behind this expedition, hailed the team and said “This is a proud moment for ONGC, a date to be earmarked. A significant milestone has been achieved, scripting a new history in our annals. Kudos to the team on this achievement.”Sharing their experience on this momentous occasion, the team said, “We have done it again. Summited the most difficult mountain, Kanchenjunga. We dedicate this success to all the martyrs of ONGC who laid down their lives in the service of the nation.  We feel privileged to take the ONGC dream to the top of the world again.”

ONGC, as part of its unique HR initiative, encourages mountaineering among its employees, as it is one of the greatest team building activities. The country’s largest oil and gas explorer also inculcates the spirit of adventure among its workforce on an ongoing basis.

click here to read more about Mount Everest expedition by ONGC India

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Mount everest expedition by ONGC India

ONGC Team summits Mt Kanchenjunga

A team of ONGC has successfully summited the third highest and most challenging peak, Mt Kanchenjunga. The first group comprising five ONGC employees completed the mission on 20th May, while the second group of four ONGC employees and one Indian Mountaineering Foundation member summited the peak today. With this, ONGC, whose team also scaled the Everest last year, becomes the first Corporate in the world to accomplish this difficult and unique feat.

The team attempted the summit in 2 groups, with the first group, comprising of Expedition leader Nirmal Kumar, Pankaj Joshi, Monti Rajkhowa, Palkesh G Kalma and Gaurav Kadian scaling the peak at around 8:15 am Nepal Time on 20th May, 2018 and the second group comprising of Yogender Garbiyal, Rahul Jarngal, Akash Bavariya, Surendra Prasad Jakhmola and Indian Mountaineering Foundation’s Sheetal scaling the peak today at around 3:40 am Nepal Time.The Kanchenjunga expedition team had three women members, out of which ONGCian Monti Rajkhowa and IMF’s Sheetal successfully summited the peak while Shipra Batra, another ONGCian accompanied the team as support staff. Monti Rajkhowa was also part of the Everest expedition last year, scaling up to camp 4 at an altitude of 8000 m. Summiteers Nirmal Kumar, Rahul Jarngal and Yogender Garbiyal were also part of the team that scaled the Everest last year, a unique accomplishment.Congratulating the team on its momentous feat, ONGC CMD Mr Shashi Shanker said, “This is a unique achievement which will inspire all ONGCians. ONGC continues its tradition of creating new milestones and scaling new heights.”ONGC Director (HR) Mr. D D Misra, who is the driving force behind this expedition, hailed the team and said “This is a proud moment for ONGC, a date to be earmarked. A significant milestone has been achieved, scripting a new history in our annals. Kudos to the team on this achievement.”Sharing their experience on this momentous occasion, the team said, “We have done it again. Summited the most difficult mountain, Kanchenjunga. We dedicate this success to all the martyrs of ONGC who laid down their lives in the service of the nation.  We feel privileged to take the ONGC dream to the top of the world again.”

ONGC, as part of its unique HR initiative, encourages mountaineering among its employees, as it is one of the greatest team building activities. The country’s largest oil and gas explorer also inculcates the spirit of adventure among its workforce on an ongoing basis.

click here to read more about Mount Everest expedition by ONGC India

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As per the policy guidelines notified by Government of India (GoI) for exploration and exploitation of shale gas and oil in India by National Oil Companies (NOCs), ONGC has identified 50 nomination PML (Petroleum Mining Lease) blocks under Phase-I.

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Shale Gas in India

India’s shale gas market poised for growthShale gas investment opportunities increasing globallyShale Gas opportunities are increasing worldwide.  And the methods by which government tender for work associated with shale gas reserves, is likely to determine the success of domestic shale markets and the appetite for overseas investors to help those markets expand.  Some markets pose greater challenges than others, but opportunity is likely to continue to increase.India:  A high growth marketThe recent power failure in India underscored India’s acute energy challenge; miners were trapped underground, trains stopped running, and 620 million people experienced the world’s largest blackout.  India, a country of 1.21 billion people, strives to keep up with China and other developing countries, with hopes someday of being a superpower. The blackout highlights an infrastructure adjustment that must be addressed for those plans to progress.As the fourth largest energy consumer in the world after the United States, China, and Japan, India has a projected demand of natural gas of 473 MMSCMD by 2016, up from its current demand of 173 MMSCMD (1 MMSCMD = 35.32 MCF).  Natural gas output must increase tremendously.  To meet the demands, unconventional or alternate hydrocarbon resources such as CBM, shale oil and gas hydrates must be explored.Acreage in six identified shale gas/oil basins will be offered through an international competitive bidding process; successful bidders will enter a contract with the government.   If unconventional areas overlap into an area of conventional exploration, the existing contractor will be given the first right of refusal to match the selected bidder.  If they refuse, then they will enter into a model company development /operating agreement for simultaneous exploration.Proposed incentives include tax breaks and fixed percentages of revenue on gas sales to the government.  The operator pays a royalty, land acquisition costs, fees and sliding scale ad valorem production level payments.  Contract duration will comprise two phases totaling 32 years.  Phase I, lasting seven years, is the exploration, appraisal and project feasibility study phase.  Phase II will be the 25-year development and production phase.Under conventional oil and gas production sharing contracts, the government uses a cost-recovery sharing method; profits are shared once the contractor has recovered costs.  Production sharing agreements (PSAs) are not yet common in India, however.Long term, India’s potential is enormous.  Internal market efficiencies are needed, however, to attract greater inward investment.Making domestic shale markets more attractive for investmentIraq:  Domestic contrastsThe contrast between production sharing and current alternatives available in other countries could not be any starker than in Iraq.4  Two exploration schemes exist; Baghdad uses technical service agreements (TSAs) where oil ownership is not relinquished and foreign operators are paid on a fee-for-service basis.  In the north, the Kurdistan Regional Government (KRG) uses production sharing agreements (PSAs) to increase foreign investment.  The results are clear; new investment in TSAs is light while the KRG has awarded over 35 PSAs.The KRG terms are for an initial five-year exploration period extendable to seven, with the initial five divided into two periods.   The first is three years and the second is two to four years, with negotiated minimum exploration obligations met at each phase.  If a commercial discovery is made during the exploration period, a 20-year development period commences on the declaration of the commercial discovery with a possible extension for another five years.  Acreage, unless deemed commercial, is relinquished incrementally.Kurdistan represents a superb instant opportunity for foreign investment.Afghanistan:  China investments, long-term challenges a highlightAfghanistan has an open process to attract foreign investment and expertise; lands are offered up in a tender process by the Afghan government.  Bidders submit proposals, and after a successful bidder is announced, negotiations addressing minimum production requirements, royalty, formula pricing and minimum exploration programs begin.   The exploration phase can last 10 years; automatic extensions can be requested to carry out the assessment of a discovery.Production extends the bidder’s rights for an additional period totaling 25 years after the initial discovery’s date. The operator also has a right to ask for production phase extensions if it has fulfilled its prior obligations in previous phases.China’s NPC agreed to invest 700 million dollars for exploration of the Amu Darya River Basin in Afghanistan. NPC agreed to pay a 15% royalty, corporate tax and rents for use of the land. The profit split will be 30% NPC/70% Afghanistan.The market here has many challenges, both short and long-term.  Security and political stability at the forefront.  While opportunities exist, one must understand the challenges and navigate the complexities effectively.Looking forwardAs gas prices fall in the United States, gas demands in countries such as India are at an all-time high. The prolific nature of shale gas basins continues to be a desirable target for these countries and the industry as a whole. It will be interesting to watch development of shale deals in different nations to see if the PSA regains its place as the default arrangement to attract investment and expertise. click here to read more about Shale Gas in India

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Oil drilling companies in India

Six decades of commitment in pursuing E&P opportunitiesAfter Independence, in 1955, Government of India decided to develop the Oil and Natural Gas resources as part of Public Sector development. With this objective, an Oil and Natural Gas Directorate was set up under the then Ministry of Natural Resources and Scientific Research.In April 1956, soon, after the formation of the Oil and Natural Gas Directorate, it became apparent that it would not be possible for the Directorate with limited financial and administrative powers to function efficiently. So in August 1956, the Directorate was raised to the status of a Commission with enhanced powers, although it continued to be under the government. In October 1959, the Commission was converted into a statutory body by an act of Parliament, which enhanced powers of the commission further.Since its inception, ONGC has transformed India’s miniscule upstream sector into a large viable playing field, ONGC not only found new resources in Assam but also established new oil province in Cambay basin (Gujarat), while adding new petroliferous areas in the Assam-Arakan Fold Belt and East coast basins (both inland and offshore).ONGC went offshore in early 70's and discovered a giant oil field in the form of Bombay High, now known as Mumbai High. This discovery, along with subsequent discoveries of huge oil and gas fields in Western offshore placed India on the world oil map. Over 5 billion tonnes of hydrocarbons were discovered. The most important contribution of ONGC, however, is its self-reliance and development of core competence in E&P activities at a globally competitive level.ONGC was re-organized as a limited Company under the Company's Act, 1956 in February 1994.Today, Oil and Natural Gas Corporation Ltd. (ONGC) is, the leader in Exploration & Production (E&P) activities in India contributing over 70 percent to India’s total production of crude oil and around 50 per cent of natural gas.NOWOver the past few years, while most of the global upstream companies have held back project investment decisions due to low crude oil prices, ONGC has adopted a counter-cyclical approach. ONGC believes that this is the right time to execute E&P projects when cost of oilfield services and equipment is lower due to lower crude prices and lower level of project activity globally resulting in keenness of reliable business partners to collaborate for timely completion of our projects.While the extended period of low commodity prices poses challenges for E&P companies in terms of ambitious exploratory efforts and development from difficult areas, it is a source of meaningful monetary comfort for an import dependent economy likes ONGC.Report: As per an IHS Markit report, during 2014-16, global E&P spending plummeted from $693 bn in 2014 to $368 bn by the end of 2016. Overall, global upstream capital spent from 2015 out to 2020 has been reduced by 22% or US$740 billion. However, there are regions that have bucked the trend – especially the Middle East and countries in Asia Pacific such as India where there is a high proportion of NOC-spend. Saudi Arabia and Kuwait are continuing high investment levels with 60% of the spend going toward drilling activity while Iran is ramping up its pace. While in India, a country that relies on imports for most of its energy requirements, the situation is ripe, factoring in the prevailing low costs, for making timely investments in the domestic upstream sector through ambitious exploratory programs to augment underlying hydrocarbon resource potential and implementation of promising greenfield projects with robust production profiles (such as ONGC’s offshore KG-DWN-98/2 and Daman Development projects) to mitigate the extent of its reliance on imported oil. One of the positive after-effects of the oil price slump is the drop in overall cost levels for a company’s operations on account of the inevitable rate reductions offered by the service sector and internal productivity and efficiency gains. As per various estimates, the level of cost deflation in the sector in this low-priced market has been anywhere between 30%-50% with the most amount of gains manifest in the US unconventional.Now, after few years of dampened E&P activity, upstream sentiment around the sector’s growth prospects in 2017 appears more upbeat, spurred by the meaningful recovery in oil and gas prices, although downside risks still persists, anticipated pickup in global demand and newly discovered cost and operational efficiencies. As per Wood Mackenzie, cumulative capital budgets for companies are15% more in 2017 relative to 2016 with a 5% projected rise in global prod--uction.IHS Markit notes North America will lead gains in 2017, but spending will remain well below half of what it was prior to the collapse in 2015-16.Exploration which dropped by over 60% from 2014 to $40 bn in 2016 is unlikely to register any rise in its outlay and, at best, may match 2016’s spend. On the bright side, lower costs mean well counts may hold up close to 2016 numbers.With exploration budgets stretched, the mantra is now to drill simpler wells. Hard-to-reach reservoirs, difficult logistics and nice to-have data gathering are out. Exploration is the bread and butter of the upstream segment and the strength of exploration activity is a reliable marker of the sector’s long-term health and attractiveness. A robust recovery in exploration spend in the next few years is  imperative for securing the pipeline of2fwz ture supplies in a sector that has already given up on close to 4 MM boed of new supplies by 2021 owing to project cancellations and capex cutbacks. ONGC is the country’s flagship energy explorer and leading oil and gas producer, accounting for over 70% of domestic oil and gas supplies. Despite the persistent market uncertainty and price fluctuations, ONGC remains firmly committed to pursuing the opportunities in the domestic oil and gas landscape. Not only is the country the world’s largest demand hub for the foreseeable future, prospects of E&P activity in our sedimentary basins also appear quite promising.

click here to read more about Oil drilling companies in India.

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ONGC is one of the largest E&P Company in India with in-house service capabilities in all the activity areas of exploration and production of oil & gas and related oil-field services

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oil exploration companies in India

Six decades of commitment in pursuing E&P opportunities After Independence, in 1955, Government of India decided to develop the Oil and Natural Gas resources as part of Public Sector development. With this objective, an Oil and Natural Gas Directorate was set up under the then Ministry of Natural Resources and Scientific Research.In April 1956, soon, after the formation of the Oil and Natural Gas Directorate, it became apparent that it would not be possible for the Directorate with limited financial and administrative powers to function efficiently. So in August 1956, the Directorate was raised to the status of a Commission with enhanced powers, although it continued to be under the government. In October 1959, the Commission was converted into a statutory body by an act of Parliament, which enhanced powers of the commission further.Since its inception, ONGC has transformed India’s miniscule upstream sector into a large viable playing field, ONGC not only found new resources in Assam but also established new oil province in Cambay basin (Gujarat), while adding new petroliferous areas in the Assam-Arakan Fold Belt and East coast basins (both inland and offshore).ONGC went offshore in early 70's and discovered a giant oil field in the form of Bombay High, now known as Mumbai High. This discovery, along with subsequent discoveries of huge oil and gas fields in Western offshore placed India on the world oil map. Over 5 billion tonnes of hydrocarbons were discovered. The most important contribution of ONGC, however, is its self-reliance and development of core competence in E&P activities at a globally competitive level.ONGC was re-organized as a limited Company under the Company's Act, 1956 in February 1994.Today, Oil and Natural Gas Corporation Ltd. (ONGC) is, the leader in Exploration & Production (E&P) activities in India contributing over 70 percent to India’s total production of crude oil and around 50 per cent of natural gas.NOWOver the past few years, while most of the global upstream companies have held back project investment decisions due to low crude oil prices, ONGC has adopted a counter-cyclical approach. ONGC believes that this is the right time to execute E&P projects when cost of oilfield services and equipment is lower due to lower crude prices and lower level of project activity globally resulting in keenness of reliable business partners to collaborate for timely completion of our projects.While the extended period of low commodity prices poses challenges for E&P companies in terms of ambitious exploratory efforts and development from difficult areas, it is a source of meaningful monetary comfort for an import dependent economy likes ONGC.Report: As per an IHS Markit report, during 2014-16, global E&P spending plummeted from $693 bn in 2014 to $368 bn by the end of 2016. Overall, global upstream capital spent from 2015 out to 2020 has been reduced by 22% or US$740 billion. However, there are regions that have bucked the trend – especially the Middle East and countries in Asia Pacific such as India where there is a high proportion of NOC-spend. Saudi Arabia and Kuwait are continuing high investment levels with 60% of the spend going toward drilling activity while Iran is ramping up its pace. While in India, a country that relies on imports for most of its energy requirements, the situation is ripe, factoring in the prevailing low costs, for making timely investments in the domestic upstream sector through ambitious exploratory programs to augment underlying hydrocarbon resource potential and implementation of promising greenfield projects with robust production profiles (such as ONGC’s offshore KG-DWN-98/2 and Daman Development projects) to mitigate the extent of its reliance on imported oil. One of the positive after-effects of the oil price slump is the drop in overall cost levels for a company’s operations on account of the inevitable rate reductions offered by the service sector and internal productivity and efficiency gains. As per various estimates, the level of cost deflation in the sector in this low-priced market has been anywhere between 30%-50% with the most amount of gains manifest in the US unconventional.Now, after few years of dampened E&P activity, upstream sentiment around the sector’s growth prospects in 2017 appears more upbeat, spurred by the meaningful recovery in oil and gas prices, although downside risks still persists, anticipated pickup in global demand and newly discovered cost and operational efficiencies. As per Wood Mackenzie, cumulative capital budgets for companies are15% more in 2017 relative to 2016 with a 5% projected rise in global prod--uction.IHS Markit notes North America will lead gains in 2017, but spending will remain well below half of what it was prior to the collapse in 2015-16.Exploration which dropped by over 60% from 2014 to $40 bn in 2016 is unlikely to register any rise in its outlay and, at best, may match 2016’s spend. On the bright side, lower costs mean well counts may hold up close to 2016 numbers.With exploration budgets stretched, the mantra is now to drill simpler wells. Hard-to-reach reservoirs, difficult logistics and nice to-have data gathering are out. Exploration is the bread and butter of the upstream segment and the strength of exploration activity is a reliable marker of the sector’s long-term health and attractiveness. A robust recovery in exploration spend in the next few years is  imperative for securing the pipeline of2fwz ture supplies in a sector that has already given up on close to 4 MM boed of new supplies by 2021 owing to project cancellations and capex cutbacks.ONGC is the country’s flagship energy explorer and leading oil and gas producer, accounting for over 70% of domestic oil and gas supplies. Despite the persistent market uncertainty and price fluctuations, ONGC remains firmly committed to pursuing the opportunities in the domestic oil and gas landscape. Not only is the country the world’s largest demand hub for the foreseeable future, prospects of E&P activity in our sedimentary basins also appear quite promising .click here to read more about oil exploration companies in India

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The Employee Engagement initiative at ONGC is all about creating the right conditions for all members of the organization to give of their best each day, committed to their organization's goals and values, motivated to contribute to organizational success, with an enhanced sense of their own well-being.

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ONGC Employee Relationship Management

No challenge is too big for ONGCians!!!Being an E&P company, adventure is part of ONGC’s DNA.Mountaineering started many years back when a geological expedition, which is closely related to the E&P work of ONGC was undertaken. Mixing work with adventure, this became a continuous practise to make ONGCians not only climb the ladder of E&P but also undertake adventure that make them see life from a larger perspective. With CMD promising to continue with this tradition of scaling heights, recently another successful expedition to Mt. Kanchenjunga has been accomplished on 20 May 2018. With this, ONGC, whose team also scaled the Everest last year, has become the first Corporate in the world and the first PSU to accomplish these difficult and unique feats.Through this unique HR initiative, E&P major ONGC became one of the first corporates to have its amateur employee team scale the 3rd highest peak in the world Mt. Kanchenjunga. The presence of team members from different states of the country and the inclusion of three women ONGC executives, made the expedition team a perfect embodiment of diversity and inclusivity.Mt. Kanchenjunga Expedition was flagged off by Hon’ble Union Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship Dharmendra Pradhan on 2 April 2018 at New Delhi. The kick off ceremony witnessed immense enthusiasm from the team of 15 young ONGCians from different disciplines, eager to scale the third highest peak in the world and extend ONGC's footprint beyond the scale of any human imagination.The expedition was spearheaded by amateur mountaineer Nirmal Kumar, who had successfully summited the Mt Everest early last year. From the same mission, four more members were present namely; Yogendar Garbiyal and Rahul Jarngal, Monty Rajkhowa and Surendra Singh Tomar. Other expedition members were Surendra Prasad, Palkesh G Kalma, Pankaj Joshi, Gaurav Kadian, Aayush Gupta, Aakash Bavaria and Sheetal. And the support team inluded Dr Sudhir V Singh, Kshatriya Rahul Vijay and Shipra Batra.The Kanchenjunga Expedition Team undertook intensive training designed by IMF that included advanced mountaineering course. Trained under the mentorship of president, Indian Mountaineering Foundation Col H S Chauhan, they were not only exposed them to pervasive harsh conditions encountered during high altitude expeditions, but also developed leadership traits that will run the future of ONGC. This Mount Expedition is a phenomenal employee engagement initiative taken by ONGC to instil values of companionship, team spirit and adventure within the organization. With this ‘We Can Do’ spirit, energy major ONGC has proved to the world that if there is passion, nothing is impossible, be it the depths of the Earth for national energy security or the top of the world for national glory.

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Maharatna ONGC is the largest crude oil and natural gas Company in India, contributing around 70 per cent to Indian domestic production. Crude oil is the raw material used by downstream companies like IOC, BPCL, and HPCL to produce petroleum products like Petrol, Diesel, Kerosene, Naphtha, and Cooking Gas-LPG

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ONGC India is the best Maharatna PSU company

ONGC has been conferred with “Environmental Sustainability Research and Development” Award by Governance Now in its 5th edition of prestigious PSU Awards during a glittering ceremony held on 27 February 2018 at New Delhi.The award was received by Director (Exploration), Mr. A K Dwivedi along with ED (Designate) Chief-CM&SG Mr. Jai Singh & ED Chief-Corporate Planning Mr. Yash Malik from the Hon’ble Union Minister of State for Agriculture and Farmers Welfare, Mrs. Krishna Raj and Hon’ble Union Minister of State for Road Transport & Highways, Shipping and Chemical & Fertilizers, Mr. Mansukh Laxman Mandaviya.ONGC being a Maharatna Public Sector Undertaking (PSU) is a key contributor to the growth of the Nation and this Award Honors the efforts of ONGC towards improving the Environmental Sustainability throughreducing carbon footprint, contribution to renewable energy, waste management, green campuses & pollution control.The awards were given to four separate categories Maharatna, Navaratana, Miniratna-1 & Miniratna-2 and other CPSEs under the financial and Non-Financial categories. ONGC has received the award in Non-Financial categories “Environmental Sustainability Research and Development” in Maharatna Category.This Award is in succession to the several other International Awards bagged by ONGC in the domain of Environmental Sustainability viz. the “Global Sustainability Award” from the Energy and Environment Foundation on 23 August 2016, “Greening of Oil and Gas Business, Corporate” Award in Petrotech 2016 on 7 December 2016 and “Environmental Sustainability-Company of the Year” Award from the Federation of Indian Petroleum Industry on 8 August 2017.ONGC continuously strives to demonstrate the Best Practices to address Emerging Environmental Challenges due to Climate Change. Carbon Management & Sustainability Group is the nodal agency for Induction of Concepts, Applications and Technology in the domain of Carbon Emission Management and Sustainable Development.

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The vision of sustainable growth drives both business decisions, as well as our Corporate Social Responsibility, works. The CSR projects of ONGC are marked by the unrelenting commitment to several large scale key projects