2. Prospect for oil and gas acreages outside India
Exploration, development and production of oil and gas.
ONGC Videsh Limited, is a subsidiary and overseas arm of
Oil and Natural Gas Corporation Limited (ONGC).
The primary business of ONGC Videsh is to
ONGC Videsh owns Participating Interests in 39 assets in 17
countries and produces about 30.3% of oil and 23.7% 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 to its
parent ONGC.
INTRODUCTION
Since 5th March, 1965
7. KEY STRATEGIES
OVL holds stakes
in projects such as
the Sakhalin-I and
the Vankor oilfield.
Russia is a major
global producer of
oil and gas, and
these Investments
help India access
these resources.
OVL's investment choices are influenced by India's growing energy demands and the
need for a diversified and stable supply of oil and gas resources. Additionally, geopolitical
and economic factors play a significant role in shaping their investment decisions.
RUSSIA VIETNAM MOZAMBIQUE IRAN SUDAN
OVL has invested in
multiple projects in
Vietnam, including
the Lan Do gas field
and Block 128.
Vietnam's proximity
to India and its
offshore oil and gas
reserves make it an
attractive
investment
destination.
OVL has a stake in
the Rovuma Area 1
offshore block,
which is one of the
world's largest
natural gas
discoveries. This
investment is
strategically
important as it
helps India secure
access to natural
gas resources.
Iran is a significant
producer of oil, and
these investments
aim to secure a
stable supply of
crude oil for India.
However, the
dynamics of
investments in Iran
can be influenced
by geopolitical
factors and
sanctions.
OVL has invested
in oil exploration
and production
projects in Sudan
and South Sudan.
These investments
were aimed at
enhancing India's
crude oil supply.
8. KEY STRATEGIES
OVL has invested
in the Al-Jurf
offshore oilfield in
the UAE. This
investment
contributes to
India's access to
oil resources from
the Middle East.
Availability of hydrocarbon resources,
Geopolitical considerations,
Strategic partnerships,
Economic viability.
The choice of countries for investment is driven by several other factors including :
UAE MYANMAR BRAZIL KAZAKHSTAN OTHERS
OVL has
participated in
projects such as
the Shwe gas
project in
Myanmar, helping
India diversify its
sources of natural
gas.
OVL has been
involved in
exploration
activities in Brazil's
deepwater blocks.
Brazil is known for
its offshore oil
reserves, and this
investment aligns
with India's energy
security goals.
OVL has stakes in
oil and gas projects
in Kazakhstan,
including the
Satpayev
exploration block.
Kazakhstan is an
important player in
the energy sector
in Central Asia. This
investment
contributes to
India's access
OVL has explored
opportunities and
made investments
in various other
countries,
including
Nigeria
Venezuela
Colombia
to contributes to
India's security
goals.
10. BEST OF CLASS
TECHNOLOGY &
HUMAN RESOURCES
ONGC Videsh has highly skilled human resource
with excellent technical and management
capabilities.
The company has built facilities for evaluation,
interpretation, economic modelling, FEED, design
and execution of oil and gas projects and enjoys
the technical and human resource support from
ONGC.
ONGC Videsh has developed core expertise in due
diligence, techno-commercial evaluations, bid
negotiations and transaction documentations.
