Press Releases

  • ONGC Videsh makes two new discoveries in Colombia and Brazil October 16, 2019 ONGC Videsh makes two new discoveries in Colombia and Brazil ONGC Videsh has recorded discoveries of oil in its onshore exploration block CPO-5, Colombia in the Llanos basin and major gas in the deep offshore exploration block BM-SEAL-4, Brazil in the Sergipe Alagoas Basin. Well Sol-1, Colombia Well Sol-1, in the block CPO-5 encountered the oil bearing sands of 8 meters at a depth of 2852m. Oil discovery in Sol-1 confirms the extent of oil pay further south of the block. ONGC Videsh had earlier discovered commercial oil in the same pay in wells Mariposa-1 and Indico-1 in 2017 and 2018, respectively. Both ...
  • Alok Kumar Gupta takes over as Director (Operations), ONGC Videsh September 4, 2019 AK Gupta has taken over as the Director (Operations) in the Board of ONGC Videsh, the international petroleum company of India. He brings over three decades of experience in various capacities in domestic and overseas operations. He was most recently the Asset Manager Designate of Assam and prior to that Asset Manager Silchar, ONGC. Earlier, as Head of Business Development in ONGC Videsh, he managed the global business development activity of the company. In his first stint with ONGC Videsh, he managed ONGC Videsh assets in diverse geographies. Mr Gupta was instrumental in implementing projects from concept to commissioning, executed projects ...
  • Joint Venture Partners of Mozambique Rovuma Offshore Area 1 seal more LNG Sale and Purchase Agreements February 26, 2019 ONGC Videsh Limited (ONGC Videsh) – a wholly owned subsidiary of ONGC, the National Oil Company of India, announces that Mozambique LNG1 Company Pte. Ltd., the jointly owned marketing entity of ONGC Videsh and joint venture partners of Mozambique Rovuma Offshore Area 1 project incorporated at Singapore, has entered into long-term LNG Sale and Purchase Agreement (SPA) with a) Tokyo Gas Co. Ltd. (Tokyo Gas) and Centrica LNG Company Ltd., a subsidiary of Centrica plc (Centrica) through a co-purchasing agreement for  sale of 2.6 million tonnes per annum (MMTPA) from the start-up of production until the early 2040s; b) CNOOC ...
  • ONGC Videsh receives The India Risk Management Award February 12, 2019 ONGC Videsh receives The India Risk Management Award In close succession of receiving Golden Peacock Award for Risk Management in December 2018, ONGC Videsh added another feather in its cap by receiving The India Risk Management Award constituted by ICICI Lombard & CNBC-TV18 in the category Best Risk Management Framework and Systems – PSU. The award was received by Shri Vivekanand, Director (Finance) on behalf of ONGC Videsh on 7th February 2019 in a function held at Mumbai. The mail of Executive Editor CNBC-TV18 announcing the award said “We are delighted and honoured to inform you that, our jury led by Ms. ...
  • ONGC achieves second consecutive success in an onshore well Indico-1X, Colombia January 6, 2019 ONGC achieves second consecutive success in an onshore well Indico-1X, Colombia ONGC Videsh Limited (OVL), the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Ltd. (ONGC), the National Oil Company of India has registered a significant discovery of oil in its onshore block CPO-5, Colombia, in Llanos Basin. OVL, which is Operator, holds 70% stake in the block along with its Partner Petrodorado South America S.A. Sucursal (PDSA), Colombia (30%). The well Indico-1 was spudded on 7th November 2018 and completed the drilling on 15th December 2018. The well Indico-1 encountered Lower Sands (LS-3) of Une Formation (Cretaceous) ...
  • ONGC Videsh Declares H1 FY’19 Financial Results November 14, 2018 ONGC Videsh Declares H1 FY’19 Financial Results Financial results of ONGC Videsh Ltd, the wholly-owned subsidiary of Oil and Natural Gas Corporation Limited (ONGC), for the half year ended September 30, 2018 were considered and approved by the Board in its meeting held on November 14, 2018. The performance highlights are as under: Standalone and consolidated production of Crude Oil and Oil Equivalent of Gas together during H1 FY’19 was higher by 8.8% and 1.4% respectively as compared to H1 FY’18 mainly due to increased production from Sakhalin-1, Russia and addition of production of Lower Zakum Concession, UAE acquired in March’2018. The Company ...