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ONGC is now a Fortune 500 Company (with 413th rank) and is the only and the first ever Indian Company to figure in the Fortune’s list of ‘World’s Most Admired Companies” in the year 2007. Ranked as the number two E&P Company in world (Platt’s ranking of top 250 Energy Companies 2011), ONGC remains India’s Most Valuable PSU in terms of net profit and net-worth.
ONGC has been ranked at 172nd position in the Forbes Global 2000 list for the year 2011 of the world’s biggest companies released on 21st April 2010. The ranking is based on Sales (US$ 22.6 billion), Profits (US$ 4.3 billion), Assets (US$ 44.6 billion) and Market Capitalization (US$ 53.2 billion). 57 Indian Companies find placed in the list among which ONGC has been ranked at No.3.
ONGC has been ranked 24th among the Global publicly-listed Energy companies as per ‘PFC Energy 50” (2011)
Financial Express in its latest listing of top 500 Companies of India for the year 2010-11 has placed ONGC, second on composite overall ranking amongst all companies in India. ONGC also maintains its position as most valuable PSU of the Country.
Business World, in its latest survey on Most Respected Companies 2011 (published on 14th February, 2011) ranked ONGC fourth amongst all the companies in both private and public sector in India. ONGC has emerged as not only the sector leader (oil & gas sector) but also the most respected company amongst all the PSUs.
Transparency International in a recently released report ‘Promoting Revenue Transparency: 2011 Report on Oil & Gas Companies’ has ranked ONGC at top on parameters for organisational disclosure. ONGC ranked at 26th on reporting on anti-corruption programmes and at 16th place on Country-level disclosure – International Operations.
ONGC has been ranked 361st position as per Fortune Global 500 - 2011 list, based on revenues, profits, assets and shareholder’s equity.
Represents India’s Energy Security
ONGC has single-handedly scripted India’s hydrocarbon saga by:
Establishing 7.38 billion tonnes of In-place hydrocarbon reserves with more than 300 discoveries of oil and gas; in fact, 6 out of the 7 producing basins have been discovered by ONGC: out of these In-place hydrocarbons in domestic acreages, Ultimate Reserves are 2.60 Billion Metric tonnes (BMT) of Oil Plus Oil Equivalent Gas (O+OEG).
Cumulatively produced 851 Million Metric Tonnes (MMT) of crude and 532 Billion Cubic Meters (BCM) of Natural Gas, from 111 fields.
ONGC has bagged 121 of the 235 Blocks (more than 50%) awarded in the 8 rounds of bidding, under the New Exploration Licensing Policy (NELP) of the Indian Government.
ONGC’s wholly-owned subsidiary ONGC Videsh Ltd. (OVL) is the biggest Indian multinational, with 33 Oil & Gas projects (9 of them producing) in 15 countries, i.e. Vietnam, Sudan, South Sudan, Russia, Iraq, Iran, Myanmar, Libya, Cuba, Colombia, Nigeria, Brazil, Syria, Venezuela and Kazakhstan.
India’s Most Valuable Public Sector Enterprise
As per latest survey Business Today (BT) (February 6, 2011 issue) ONGC has been ranked as the 'Best Employers to Work For' among all PSUs. ONGC with an Index score of 40 stands at 13th amongst top 25 India Corporates. ONGC has also been ranked as the 'Best Employer to Work for' in the Core sector, even among the non PSU Corporates in India.
ACCREDITATIONS: ONGC Academy gets ISO-9001:2008 accreditation
ONGC Academy was conferred with ISO-9001:2008 Certification for quality management on 1st November, 2010.
ONGC bagged the Petrofed Oil & Gas Industry Awards 2009 and 2010 for excellence in various categories. ONGC bagged the 'Leading Oil & Corporate of The Year Award' for 2009 & 2010 and the 'Exploration & Production Company of the Year Award’ for 2010.
ONGC also bagged 'Innovator of the year Team category Award for 2009.
MRPL clinched the 'Refinery of the Year Award' for 2010.
ONGC bagged the first ever FE-EVI Green Business Leadership Awards, instituted by Financial Express and Emergent Ventures India. The award was received by CMD on the occasion of World Environment Day.
ONGC bagged the Silver Trophy for Best HR Practices, 2011 at the inaugural ceremony of the NIPM National Conference held in Delhi on 14th February, 2011.
The Shine.Com HR leadership Awards were announced by the IES Group of Companies in collaboration with the World HRD congress and Shine.Com of Hindustan Times. The Jury conferred upon ONGC, the award for the Best Leadership Practices in the area of Corporate Social Responsibility in a function in Mumbai on 9th February, 2011.
ONGC bagged the Corporate Governance Certificate for excellence in corporate governance practices instituted by the Institute of Company Secretaries India (ICSI).
ONGC bagged the PCRA 'Award for Excellence' for the Best Overall Performance in the Upstream Sector.
ONGC bagged the 'Golden Peacock Award' at the 5th Global Conference on Social Responsibility. The award was received on from Chairman, World Council for Corporate Governance and Former Prime Minister of Sweden.
ONGC bagged the maiden Indian Chamber of Commerce ‘Sustainability Vision 2011’ Awards in the category- 'Sustainability
Reporting and Transparency'. The award was handed over to ONGC during the Summit on India Sustainability Vision @ Future at New Delhi.
ONGC bagged the awards on Best Financial Performance and Corporate Governance given by Department of Public Enterprises Government of India in association with Indian Chamber of Commerce and Deloitte, the Knowledge Partner.
ONGC is the only fully–integrated petroleum company in India, operating along the entire hydrocarbon value chain:
Holds largest share of hydrocarbon acreages in India (51% in PEL Areas & 67% in ML Areas).
Contributes over 79 per cent of Indian’s oil and gas production.
About one tenth of Indian refining capacity.
Value chain integration.
Interests in LNG and product transportation business.
All crudes are sweet and most (76%) are light, with sulphur percentage ranging from 0.02-0.10, API gravity range 26°-46° and hence attract a premium in the market.
Strong intellectual property base, information, knowledge, skills and experience
Maximum number of Exploration Licenses, including competitive NELP rounds. ONGC has bagged 121 of the 235 Blocks (more than 50%) awarded in the 8 rounds of bidding, under the New Exploration Licensing Policy (NELP) of the Indian Government.
ONGC owns and operates more than 26,600 kilometers of pipelines in India, including sub-sea pipelines. No other company in India, operates even 50 per cent of this route length.
Strategic Vision: 2001-2020
To focus on core business of E&P, ONGC has set strategic objectives of: Doubling reserves (i.e. accreting 6 billion tonnes of O+OEG). Improving average recovery from 28 per cent to 40 per cent. Tie-up 20 MMTPA of equity Hydrocarbon from abroad by 2018. Accrete 1 Billion tonnes of resources from unconventional sources of energy. The focus of management will be to monetise the assets as well as to assetise the money.
Sourcing Equity Oil Abroad
ONGC has extended its operations beyond domestic arena, and now, through its wholly owned subsidiary, the ONGC Videsh Limited (OVL), is operating in 15 countries with 33 projects to source equity oil & gas for energy security of the country. Over the years OVL has emerged as the biggest Indian Multinational.
ONGC’s overseas arm ONGC Videsh Limited (OVL), continued to maintain robust growth with 5.042 MMT of Crude and 2.022 BCM of Gas during 2010-11.
ONGC Videsh Ltd’s (OVL) proved reserves (1P) as on 1st April 2011 stood at 202.908 MTOE, which next to ONGC, is the second largest holding of proved oil and gas reserves by any Indian Company. OVL’s share of total reserves (3P) of oil and oil equivalent gas as on 1st April 2011 was 435.004 MTOE. There was an impressive reserve accretion of 466.23 MMT of oil and oil equivalent gas during the year 2010-11. The Reserves-to-Production (R/P) Ration considering proved reserves was 21 for the year 2010-11.
OVL signed agreements with KazMunaiGas (KMG), the national oil company of Kazakhstan for acquisition of 25% participative interest in Satpayev exploration block in Kazakhstan. The agreement was signed on 16th April 2011 with KazMunaiGas in the presence of Dr. Manmohan Singh, Hon’ble Prime Minister of India and H.E. Nursultan Nazarbayev, Prsident of Kazakhstan.
The company now has participation in 33 projects in 15 countries, namely Vietnam (2 projects), Russia (2 projects), Sudan (3 Projects – includes 2 Project in South Sudan), Iran (1 project), Iraq (1 project), Libya (1 project), Myanmar (2 projects), Syria (2 projects), Cuba (2 projects), Brazil (6 projects), Nigeria (2 projects), Colombia (6 projects), Venezula (2 projects) and Kazakhstan (1 project). Out of 33 projects, OVL is operator in 11 projects and joint operator in 6 projects.
OVL’s share of production of oil and oil-equivalent gas (O+OEG), together with its wholly owned subsidiaries ONGC Nile Ganga B.V. ONGC Narmada Ltd, ONGC Amazon Alaknanda Limited, Jarpeno Limited, Carabobo One AB and ONGC Mittal Energy Limited, increased from 8.87 MMTOE to 9.45 MMTONE, up 6.5%. Consolidated gross revenue of OVL increased from Rs.153.83 billion to Rs.186.83 billion, up 21% and consolidated net profit from Rs.20.90 billion to Rs.26.91 billion, up 29%.
OVL’s strategic objective of sourcing 20 million tonnes of equity oil abroad per year is likely to be fulfilled by 2018.
Frontiers of Technology
State-of-the-art seismic data acquisition, processing and interpretation facilities
Uses one of the Top Ten Virtual Reality Interpretation facilities in the world
Alliances with Transocean, Schlumberger, Halliburton and Baker Hughes, IPR, Petrobras, Norsk, ENI, Shell
One of the biggest ERP implementations in the Asia
Best In Class Infrastructure And Facilities
The Company operates with 27 Seismic crews, manages 240 onshore production installations, 202 offshore installations, 77 drilling (plus 44 hired) and 58 work-over rigs (plus 30 hired), owns and operates more than 26,598 kilometers of pipeline in India, including 6,707 kilometers of sub-sea pipelines.
ONGC has adopted Best-in-class business practices for modernization, expansion and integration of all Info-com systems.
ONGC group’s turnover during 2010-11 has been Rs.127,905 Crore with net profit of Rs.22,456 Crore. ONGC paid highest-ever dividend of Rs.7,486 Crore. The Net Worth of ONGC Group of companies is Rs.114,531 Crore.
During 2010-11, the turnover of ONGC (on standalone basis) has been Rs.69,532 Crore with net profit of Rs.18,924 Crore; the highest-ever despite sharing under-recovery of Rs.24,892 Crore to the Oil Marketing Companies (OMCs) as per the instructions of the Government of India. Net worth of ONGC (on standalone basis) has been Rs.96,709 Crore.
OVL’s consolidated gross revenue increased by 21% from Rs.15,383 Crore during 2009-10 to Rs.18,683 Crore during 2010-11 and consolidated net profit increased by 29% from Rs.2,090 Crore during 2009-10 to Rs.2,691 Crore during 2010-11.
The turnover of MRPL has been Rs.43,800 Crore, up 21% from Rs.36,141 Crore and net profit has been Rs.1,177 Crore, up 6% from Rs.1,112 Crore.
The Road Ahead
ONGC looks forward to become an integrated energy provider, with:
New Discoveries and fast track development
Equity Oil from Abroad
Downstream Value Additions & Forward Integration
Leveraging state-of-the art technology and global best practices
New Sources of Energy
Production from small and marginal fields
ONGC has taken structured initiatives to tap unconventional energy sources, be it unconventional gases like Coal Bed Methane (CBM), Underground Coal Gasification (UCG), Shale Gas and Gas Hydrates, or unconventional energy sources like wind, solar etc. ONGC created a landmark for exploration of unconventional hydrocarbons when it succeeded in striking shale gas from its first R&D well RNSG-1 at Icchapur, near Durgapur, West Bengal in January’11. Earlier, CBM production from Pilot Project at Parbatpur, Jharkhand had already started in January’10, while Pilot UCG project has been launched in Vastan, Gujarat.
“ONGC Energy Centre Trust”, a dedicated centre created by ONGC for holistic research in non-conventional energy sources, has taken up three projects viz., Thermo-chemical reactor for Hydrogen, Geo-bio Reactors and Fuel Cells. ONGC has already commissioned a 50 MW Wind Farm in Gujarat and plan is afoot to set up another 100 MW Wind Farm in Rajasthan. ONGC has also set up 3 Solar Thermal Engines at Solar Energy Centre, Ministry of New and Renewable Energy (MNRE) campus at Gurgaon.
Pursuing the globally-established integrated business model in petroleum industry, ONGC took up equity in the ailing Mangalore Refinery & Petrochemicals Limited (MRPL), a stand-alone refinery of 9.69 MMT capacity, in March 2003. This not only added that desired comfort to this Company in mitigating higher risk of E&P operation but also set an example in the Indian business history where a PSU has taken over a joint stock company and turned it around in a record time of one year.
Moving ahead, ONGC has taken structured initiatives towards value-multiplier integration projects like – Refinery, LNG, Petrochemicals, Power, SEZ, etc., to have presence in the entire hydrocarbon value-chain.
MOU performance rating of ONGC during the last three years is as below:
ONGC is also a responsible corporate citizen and is playing an important role in strengthening the fabrics of the society. ONGC Group of companies promotes Education, Heath care & Entrepreneurship in the Community and support Water Management and Disaster Relief in the country. The company has increased its budget towards socio-economic development to 2% of net profit from 0.75%.
ONGC also was the first Indian PSU to sign Integrity Pact, to bring in transparency in all its official transactions. It also has launched the Whistle Blower Policy, following the best Corporate Governance practices.
Health, Safety & Environment
ONGC has implemented globally recognized QHSE management systems conforming to requirements of ISO 9001, OHSAS 18001 and ISO 14001 at ONGC facilities and certified by reputed certification agencies at all its operational units.
ONGC shares the global concern on Climate change and global warming. ONGC has drawn elaborate programme to become carbon neutral and has registered 6 CDM (Clean Development Mechanism) projects with United Nations Framework Convention on Climate Change (UNFCC). ONGC has already started earning CER (Certified Emission Reduction) credits, in the process, becoming the first Indian PSU to do so.
ONGC has vast pool of skilled and talented professionals – the most valuable asset for the company. 33,229 ONGCians (as on 31st March, 2011) dedicate themselves for the excellent performance of your company during the year. ONGC continues to extend several welfare benefits to the employees and their families by way of comprehensive medical care, education, housing and social security.
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