Press Releases

  • ONGC Videsh announces the approval of the development plan for Golfinho-Atum fieldin the Rovuma Area 1 Offshore Block in Mozambique March 5, 2018 ONGC Videsh Limited (ONGC Videsh)- a wholly owned subsidiary of ONGC, the National Oil Company of India, announces that the Government of Mozambique has accorded approval for the Development Plan for Golfinho-Atum natural gas field in the Area 1 block located in the Rovuma Offshore Basin of Mozambique. The plan outlines the integrated development of the Golfinho-Atum field through an initial two-train onshore liquefaction plant with a total processing capacity of 12.88 MMTPA. The approval of the Development Plan is the culmination of several years of progress on technical and commercial aspects of the development.The Golfinho-Atum Project will also supply ...
  • ONGC Videsh led Indian Consortium comprising of ONGC Videsh, Indian Oil Corporation Limited and Bharat Petro Resources Limited to acquire 10% Stake in Lower Zakum Concession, Offshore Abu Dhabi February 10, 2018 ONGC Videsh led Indian Consortium has been awarded 10% Stake in Lower Zakum Concession, Offshore Abu Dhabi. The Concession award by the Supreme Petroleum Council (SPC), on behalf of the Abu Dhabi government, to the Abu Dhabi National Oil Company (ADNOC) and the Indian Consortium, is the first time that Indian oil and gas companies have been given a stake in the development of Abu Dhabi’s hydrocarbon resources. The Indian Consortium comprising of Indian Petroleum Sector Public Enterprises is led by ONGC’s international arm ONGC Videsh and includes Indian Oil Corporation Limited and the international arm of Bharat Petroleum Corporation Limited (Bharat PetroResources Limited). ...
  • ONGC Videsh receives Golden Peacock Award for Risk Management December 20, 2017 ONGC Videsh receives Golden Peacock Award for Risk Management ONGC Videsh received Golden Peacock Award for Risk Management 2017 instituted by the Institute of Directors (IOD) on 14th December 2017 during Global Convention on Corporate Ethics & Risk Management held at Singapore. (Executive Committee with Risk management team during Award trophy and Citation handover) A presentation on the Enterprise Risk Management system at ONGC Videsh bringing out its major initiatives and distinguished features was presented in the Global Convention at Singapore by Mr. Arun Mittal, Head – Risk. Mr. Narendra Kumar Verma, Managing Director, while complimenting Team ONGC Videsh on this achievement, exhorted ...
  • ONGC Videsh Declares H1 FY’18 Financial Results November 15, 2017 Financial results of ONGC Videsh Ltd, the wholly-owned subsidiary of ONGC, for the half year ended September 30, 2017 were considered and approved by the Board in its meeting held on November 13, 2017. The performance highlights are as under: Consolidated Crude Oil and Oil Equivalent Gas production during H1FY’18 was higher by 28.14% at 7.013 MMTOE mainly due to acquisition of additional 11% stake in Vankorneft project in Russia in October 2016. The Company recorded its standalone profit of ₹ 134 crore during H1 FY’18 as against profit of ₹ 491 crore during H1 FY’17 mainly due to forex movements and ...
  • ONGC Videsh completes acquisition of 30% participating interest in Petroleum Exploration License 0037 Offshore Namibia October 4, 2017 New Delhi, 4th October 2017: ONGC Videsh Limited (ONGC Videsh), a wholly owned subsidiary of Oil and Natural Gas Corporation Limited (ONGC) has completed the acquisition of 30% Participating Interest in Namibia Petroleum Exploration License 0037 for Blocks 2112A, 2012B and 2113B and related agreements (License), Offshore Namibia from Tullow Namibia Limited (Tullow), a wholly owned subsidiary of Tullow Oil plc. Tullow with remaining 35% Participating interest shall continue to remain the operator of the License. Pancontinental Namibia (Pty) Limited with 30% Participating interest and Paragon Oil and Gas (Pty) Limited with 5% Participating interest are other partners in the ...
  • Azerbaijan Government’s announcement of extension of ACG PSA to 2049 with co-venturers, including ONGC Videsh Limited September 18, 2017 New Delhi – ONGC Videsh Limited announced that the Consortium partners of the giant ACG Fields in Azerbaijan have entered into an agreement with Azerbaijan Government and State Oil Company of the Azerbaijan Republic (SOCAR) for extension of duration of the Production Sharing Agreement (PSA) for Azeri-Chirag-Deep water portion of Gunashli (ACG) oil fields until December 31, 2049. ONGC Videsh Limited, the subsidiary of the Indian flagship Oil and natural Gas Corporation Limited (ONGC) holds a participating interest in ACG oil fields in the Azerbaijan Sector of Caspian Sea. The other partners in the Consortium are BP, Chevron, INPEX, Statoil, ...