Press Releases

  • ONGC Videsh signs “Memorandum of Understanding” with The Republic of Equatorial Guinea January 21, 2016 ONGC Videsh Limited (ONGC Videsh) and The Republic of Equatorial Guinea have entered into a ‘Memorandum of Understanding’ (MOU) on 20th January 2016 to cooperate in the upstream hydrocarbon sector in Equatorial Guinea. The MOU was signed by Mr Narendra K Verma, Managing Director & CEO, ONGC Videsh Limited on behalf of ONGC Videsh and H.E. Mr. Gabriel Mbaga Obiang Lima, Minister of Mines, Industry and Energy, on behalf of the Republic of Equatorial Guinea at New Delhi, India on the side-lines of the India-Africa Hydrocarbon Conference being held in Delhi. Under the MOU, the State of Equatorial Guinea will cooperate ...
  • ONGC Videsh and Rosneft Confirmed Successful Cooperation December 24, 2015 ONGC Videsh Limited and Rosneft signed an Agreement of Confirmation of successful completion of the first stage pre-completion actions in relation to the creation of a joint venture in JSC “Vankorneft”. The document was signed in the presence of the President of Russia Mr. Vladimir Putin and the Prime Minister of India Mr. Narendra Modi by Managing Director of ONGC Videsh Limited, Mr. Narendra K. Verma and  Rosneft Chairman of the Management Board Mr. Igor Sechin on 24th December, 2015. The document was signed in continuation of the agreement of sale and purchase of a 15% share in Vankorneft and the ...
  • ONGC Videsh to acquire 15% interest in Vankor Field located in East Siberia of the Russian Federation   September 4, 2015   New Delhi, 4 September, 2015: ONGC Videsh Limited signed definitive agreements to acquire up to 15% shares in CSJC Vankorneft, a company organized under the law of Russian Federation which is the owner of Vankor Field and NorthVankor license. Rosneft Oil Company, NOC of Russia holds 100% shares in Vankorneft. The acquisition is subject to relevant Board, Government and regulatory approvals and is expected to close by mid of 2016. The agreement was signed by Mr. Narendra K. Verma, CEO  & Managing Director, ONGC Videsh and Mr. Igor Sechin, Chairman Board of Directors, Rosneft during the Eastern Economic Forum (EEF) held ...
  • Mr. Sudhir Sharma takes over as Director (Exploration), ONGC Videsh August 1, 2015  Sudhir Sharma has taken over as the Director (Exploration) in the Board of ONGC Videsh, the international  petroleum company of India. He brings over three decades of experience in various  domestic  and overseas  capacities to this role. He was most recently the Country Manager and Legal Representative for Company’s Colombia  operations  for  over a year. Earlier, as Head of Business Development in ONGC Videsh, he managed the  global business  development activity of the Company with the objective to acquire oil and gas Assets  overseas. This was his  second stint with ONGC Videsh. In 2003 consequent upon the acquisition of a stake in ...
  • Petroleum Minister Shri Dharmendra Pradhan launches observance of first International Yoga Day at Cuttack June 21, 2015 Press Release Shri Dharmendra Pradhan, Minister of State (IC) Petroleum & Natural Gas launched the observance of first International Yoga Day at Cuttack, Odisha today where more than one thousand people including officials from various walks of life participated. Envisioned by the Hon’ble Prime Minister of India Shri Narendra Modi and later overwhelmingly passed by the United Nation through a resolution, the first International Yoga Day evoked a phenomenal response across the globe. Addressing the gathering at the Cuttack Indoor Stadium, Shri Pradhan emphasized on the importance of yoga in our daily life. He also underscored the need for incorporating yoga as an ...
  • ONGC Videsh Declares FY’15 Financial Results May 25, 2015 ONGC Videsh Declares FY’15 Financial Results New Delhi 25th May, 2015 Oil and Natural Gas Corporation Ltd. Financial results of ONGC Videsh Ltd., the wholly-owned subsidiary of Oil and Natural Gas Corporation Ltd. (ONGC), for the year ended 31st March 2015 were considered and approved by the Board in its meeting held on 25th May 2015. The performance highlights are as under: Particulars Unit FY’15 FY’14 % Variation Production Crude Oil MMT 5.533 5.486 0.86 Natural Gas BCM 3.341 2.871 16.37 Total Oil and Oil Equivalent Gas MMTOE 8.874 8.357 6.19 Financial Gross Revenue / Crore 18,491 21,659 (14.63) Profit After Tax / Crore 1,904 4,445 (57.16) During FY’15, there is an increase in oil and gas production by 6.19% (Oil 0.86% and Gas 16.37%) as compared to previous fiscal year FY’14. The incremental production is ...