Oil and Natural Gas Corporation

Foundation to 1956 Before the independence of India in 1947, the Assam Oil Company in the north-eastern and Attock Oil Company in the north-western part of the undivided India were the only oil-producing companies, with minimal exploration input. The major part of Indian sedimentary basins was deemed to be unfit for the development of oil and gas resources. After independence, the Central Government of India realized the importance of oil and gas for rapid industrial development and its strategic role in defence. Consequently, while framing the Industrial Policy Statement of 1948, the development of the petroleum industry in the country was considered to be of utmost necessity. ONGC went offshore in the early 1970s and discovered a giant oil field in the form of Bombay High, now known as Mumbai High. This discovery, along with subsequent discoveries of huge oil and gas fields in Western offshore changed the oil scenario of the country. Subsequently, over 5 billion tonnes of hydrocarbons, which were present in the country, were discovered. The most important contribution of ONGC, however, is its self-reliance and development of core competence in E&P activities at a globally competitive level. In 2006, a commemorative coin set was issued to mark the 50th anniversary of the founding of ONGC, making it only the second Indian company (State Bank of India being the first) to have such a coin issued in its honour. In 2011, ONGC applied to purchase 2000 acres of land at Dahanu to process offshore gas. ONGC Videsh, along with Statoil ASA (Norway) and Repsol SA (Spain), has been engaged in deep-water drilling off the northern coast of Cuba in 2012. On 11 August 2012, ONGC announced that it had made a large oil discovery in the D1 oilfield off the west coast of India, which will help it to raise the output of the field from around 12,500 barrels per day (bpd) to a peak output of 60,000 bpd. In January 2014, OVL and Oil India completed the acquisition of Videocon Group's ten per cent stake in a Mozambican gas field for a total of $2.47 billion. In June 2015, Oil and Natural Gas Corporation (ONGC) gave a offshore contract for the Bassein development project to Larsen & Toubro (L&T). In February 2016, the board of ONGC approved an investment of in Tripura for drilling of wells and creation of surface facilities to produce 5.1 million standard cubic feet per day gas from the state's fields. On 19 July 2017, the Government of India approved the acquisition of Hindustan Petroleum Corporation by ONGC. According to reports, ONGC's oil production decreased from 20.80 million tonnes in the fiscal year 2018 to 16.88 million tonnes during the April–February period of the fiscal year 2022–23. In May 2023, ONGC announced that it would start its oil production in the Krishna Godavari Basin by June and appointed Manish Patil as its director of human resources. ==Operations==

ONGC's operations include conventional exploration and production, refining and progressive development of alternative energy sources like coal-bed methane and shale gas. The company's domestic operations are structured around 11 assets (predominantly oil and gas producing properties), 7 basins (exploratory properties), 2 plants (at Hazira and Uran) and services (for necessary inputs and support such as drilling, geo-physical, logging and well services). The company is ranked 367th on the Fortune Global 500 list of the world's biggest corporations as of 2016. Prior to ONGC acquiring majority stake in HPCL, the former was not in the list of Fortune Global 500 while the latter HPCL was. Presence of ONGC Videsh Limited (OVL) in Latin America; • Brazil (Block BC-10, BM-SEAL-4, BM-BAR-1, BM-ES-42, BM-S-73 & S-74) • Colombia (CPO-5 & Manasarovar Energy) • Cuba (Block N-25, N-26, N-27, N-28, N-29 N-34, N-35 & N-36 Block) • Venezuela (Block San Cristobal, Block Carabobo-1) Presence of ONGC Videsh Limited (OVL) in CIS; • Russia (Sakhalin‑1 – OVL 20% participating interest; retained stake after ExxonMobil’s 2022 exit and restructuring under Rosneft-led Sakhalin‑1 LLC; other onshore stakes include Vankorneft and Taas-Yuryakh joint ventures) • Kazakhstan (Satpayev Exploration Block) Presence of ONGC Videsh Limited (OVL) in Southeast Asia; • Vietnam (Block 06.1 – producing, operator Zarubezhneft; Block 128 – exploration, no commercial discovery with contract continuously renewed because of geopolitical rivalry with China) • Myanmar (Blocks A-1, A-3, B-2, EP-3, Pipeco-1, Pipeco-2) – OVL acquired 17% Participating Interest (PI) in January 2002 in A1 and March 2006 in A3 block. Presence of ONGC Videsh Limited (OVL) in Africa; • Libya: Block NC-189, 81–1, Contract Area 43 • Mozambique: Rovuma Area-1 Offshore • South Sudan: GNOP/GNPOC/GPOC - Blocks 1, 2 and 4, SPOC - Block 5A, and Pipeline- Khartoum-Port project Presence of ONGC Videsh Limited (OVL) in Middle East; • Iran: Block Farsi • Iraq: Block-8 (renamed as Block-20) • Syria: Al Furat Production Company (AFPC) and Block-24 • UAE: Lower Zakum Concession Mangalore Refinery and Petrochemicals Limited is an oil refinery at Mangalore. MRPL has a design capacity to process 15 million tonnes per annum and has 2 Hydrocrackers producing Premium Diesel (High Cetane). It also has 2 CCRs producing Unleaded Petrol of High Octane. ONGC Mangalore Petrochemicals Limited (OMPL) is an Indian company promoted by Oil and Natural Gas Corporation (ONGC) and Mangalore Refinery and Petrochemicals Limited (MRPL). Both ONGC and MRPL hold respectively 49% and 51% stake in the company. OMPL is a Subsidiary Company of MRPL and also a PSU behalf of share pattern of OMPL. It was incorporated on 19 December 2006. The OMPL complex spans 442 acres of land in Mangalore Special Economic Zone (SEZ). The project cost was estimated at . The complex is connected with MRPL Refinery, from where they feed to the complex is supplied. It is away from the New Mangalore Port and about from Mangalore International Airport. ONGC sports ONGC has held many sport teams, such as athletics, badminton, basketball, boxing, chess, cricket, cue sports, carrom, field hockey, football, kabaddi, shooting, table tennis, tennis, volleyball and wrestling. Its football team, ONGC F.C., once played in Indian I-League. The basketball team, in particular, is known internationally since several of the players of India's national basketball team have played there. These players include Vishesh Bhriguvanshi, Amritpal Singh, Yadwinder Singh, and others. Joint ventures ONGC Tripura Power Company ONGC Tripura Power Company (OTPC) is a joint venture which was formed in September 2008 between ONGC, Infrastructure Leasing and Financial Services Limited and the government of Tripura. It has developed a 726.6 MW CCGT thermal power generation project at Palatana in Tripura which supply electricity to the power deficit areas of the northeastern states of the country. OTPC has 2 no 9FA machines supplied by GE USA. ONGC Petro Additions Limited ONGC Petro additions Limited (OPaL), a multi-billion joint venture company was incorporated in 2006, as a Public Limited Company under the Companies Act, 1956, promoted by ONGCGas Authority of India Limited (GAIL), and Gujarat State Petroleum Corporation (GSPC). ONGC owns 49.36% of shares in OPaL, while GAIL has 49.21% per cent and the remaining 1.43% per cent is held by GSPC. It's ONGC Petro Additions Dahej Complex at Dahej, Gujarat in PCPIR/SEZ began its operation after the inauguration by Prime Minister Narendra Modi in March 2017. The complex, covering 585 hectares (1,446 acres), was founded in 2006 through a collaboration involving the ONGC, Gas Authority of India Limited (GAIL), and Gujarat State Petroleum Corporation (GSPC). The project involved an investment of around and is part of India's first Petroleum, Chemicals and Petrochemicals Investment Region. As of 2023, it has an annual production capacity of 1.5 million tons of polymers (1,100 KTPA Ethylene, 400 KTPA Propylene), along with 0.5 million tons of various other petrochemical products using associated units like the pyrolysis gasoline hydrogenation unit, butadiene extraction unit, and benzene extraction unit. Training institutes • Institute of Petroleum Safety, Health and Environment Management, Goa ==Products and services==

ONGC supplies crude oil, natural gas, and value-added products to major Indian oil and gas refining and marketing companies. Its primary products crude oil and natural gas are for the Indian market. ==Listings and shareholding==

The equity shares of ONGC are listed on the Bombay Stock Exchange, where it is a constituent of the BSE SENSEX index, and the National Stock Exchange of India, where it is a constituent of the S&P CNX Nifty. As of 31 March 2013, Government of India held around 69% equity shares in ONGC. Over 480,000 individual shareholders hold approx. 1.65% of its shares. Life Insurance Corporation of India is the largest non-promoter shareholder in the company with 7.75% shareholding. ==Employees==

As of 31 March 2024, the company has 25,847 employees, out of which 2,043 are women (7.9%). ==Awards and recognitions==

• ONGC is the top employer in the energy sector in India, in the Randstad Awards 2013. • ONGC was one of 12 winners of the 'Golden Peacock Award 2014' for its corporate social responsibility practices, and one of 24 winners of the 'Golden Peacock Award 2013' in the occupational safety and health category. • In April 2013, it was ranked at 155th place in the Forbes Global 2000 for 2012. • In 2011, ONGC was ranked 39th among the world's 105 largest listed companies in 'transparency in corporate reporting' by Transparency International making it the most transparent company in India. • It was conferred with 'Maharatna' status by the Government of India in November 2010. The Maharatna status to select PSUs allows more freedom in decision making. • In February 2014, FICCI conferred it with Best Company Promoting Sports Award. • ONGC wins the "Greentech Excellence Award" for the year 2013 in Platinum Category • ONGC was ranked 82nd among India's most trusted brands according to the Brand Trust Report 2012, a study conducted by Trust Research Advisory. In the Brand Trust Report 2013, ONGC was ranked 191st among India's most trusted brands and subsequently, according to the Brand Trust Report 2014, ONGC was ranked 370th among India's most trusted brands. • ONGC is the title sponsor for the first edition of the Corporate social responsibility (CSR) Award organised by Amar Ujala. ==Controversies==

Despite being owned by the government of India, ONGC has repeatedly been found not claiming its rightful payments from private players, especially for the use of oil fields, oil rigs and concessions. ONGC was owed from Reliance Industries Limited (Petrochemicals) for the use of blocks of oil fields. This was highlighted by the Comptroller and Auditor General of India (CAG), the overseer of expenditures of the Indian Government. However, as of 2018, this outstanding amount was still not paid by Reliance Industries Limited to ONGC. On 21 April 2021, three employees (Mohini Mohan Gogoi, Alakesh Saikia, Retul Saikia) of the ONGC were allegedly abducted from Lakuwa field of Assam's Sivasagar district. Authorities suspect that the banned United Liberation Front of Asom (Independent) is behind the abduction. Oil and Natural Gas Corporation (ONGC) has faced criticism for maintaining business operations in Russia despite international sanctions imposed following Russia's invasion of Ukraine in 2022. The company continued to sell Russian Sokol crude oil to Indian refiners, drawing concerns over its role in supporting Russia's energy sector. ONGC has been listed on platforms like Leave Russia, which tracks companies still engaged in the Russian market, raising questions about its alignment with global economic sanctions and ethical considerations. ==See also==