Press Releases

  • 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 ...
  • Press Release August 16, 2018 Press Release “A Sudanese Ministerial delegation comprising H.E. Dr. Awad Ahmed Mohammed Elgaz, Assistant to the President of the Republic of the Sudan; H.E. Azhari Abdalgadir Abdalla Abdalgadir, Minister of Petroleum; H.E. Mr. Osama Faisal Elsayed Ali, State Minister of Foreign Affairs; H.E. Mr.Tarig Hassan Ali Shalabi, State Minister of Finance; H.E. Mr. Sirajuddin Hamid Yousif, Ambassador of the Republic of the Sudan to India, and other Sudanese officials visited ONGC Videsh Corporate Office at New Delhi on August 7, 2018 and held discussions with ONGC Videsh officials led by Shri Narendra K Verma, Managing Director and CEO. The Ministerial delegation informed ...
  • The first equity cargo of Das Blend crude oil of ONGC Videsh arrives in New Mangalore June 8, 2018 ONGC Videsh Limited (ONGC Videsh) – a wholly owned subsidiary of ONGC, the National Oil Company of India, announces the arrival of its first equity cargo of Das blend crude oil to New Mangalore. The Das blend crude oil originates from the Lower Zakum (LZ) oilfield in Abu Dhabi, which currently produces approximately 400,000 barrels per day. ONGC Videsh led Indian Consortium acquired 10% PI in Lower Zakum Concession through its Dutch Joint Venture Company- Falcon Oil & Gas BV. The Indian Consortium led by ONGC Videsh include BPRL and IOCL. Other shareholders in the LZ concession are ADNOC (60%), ...
  • ONGC Videsh Declares FY’18 Financial Results May 24, 2018 Financial results of ONGC Videsh Ltd, the wholly-owned subsidiary of Oil and Natural Gas Corporation Limited (ONGC), for the year ended March 31, 2018 were considered and approved by the Board in its meeting held on May 23, 2018. The performance highlights are as under: Consolidated Production of Crude Oil and Oil Equivalent Gas during FY’18 was higher by 11% as compared to previous year. The incremental production was mainly from Vankorneft & Sakhalin-1 projects, Russia; BC-10 project, Brazil; an Exploratory Block CPO-5, Colombia and due to acquisition of 4% stake in the Lower Zakum Concession project in UAE during the ...