To  further  the  development  of  oil  and  natural  gas  exploration
  and mining  in  India,  the Ministry  of Natural Resources and
 Scientific Research, GoI set up the =Oil and Natural Gas Commission‘
 in 1956 (Commission'). In October  1959,  the Commission was 
 converted  into  a  statutory  body  pursuant  to  the Oil  and
 Natural Gas Commission Act, 1959 (now repealed). The main functions
 of the Commission were to plan, promote, organize and  implement
 programmes for development of petroleum  resources and  the
 production and sale of petroleum 
 and petroleum products produced by  it, and  to perform  such other 
 functions as  the Central Government may, from time to time, assign
 to it.  
  
 Our Company was incorporated under the Companies Act on June 23, 1993
 as Oil and Natural Gas Corporation Limited and was granted the
 certificate of commencement of business on August 10, 1993. Pursuant
 to the Oil and Natural Gas  Commission Act  (Transfer  of Undertaking
  and  Repeal) Act,  1993,  the  undertakings  of  the Commission 
 together with all  its assets, movable and  immovable properties,
 contracts,  licenses and privileges 
 along with all  liabilities and obligations of  the Commission  in 
 relation  to  its undertakings  stood vested  in our Company and were
 transferred to our Company on February 1, 1994.
 
 
 1956
 -Oil and Natural Gas Corporation(ONGC) was set up in 1956 with 

 significant contribution in industrial and economic growth of the 

 country.
 
 1959 
 
 - In October the Commission was converted into a statutory body by
 the
 Oil and Natural Gas Commission Act, 1959.  The main objectives of
 the
 Commission were to plan, promote, organise and implement programmes
 for
 the development of oil and natural gas resources and the production
 and
 sale of oil and natural gas products.
 
 - ONGC functions as the primary arm of the Government as regards
 exploration for and exploitation of India's petroleum resources. 
 The
 Company's revenues are derived primarily from the sale of its
 production of crude oil, natural gas, liquefied petroleum gas
 (LPG),C2-C3 (ethane-propane) and natural gasoline (NGL).
 
 - To strengthen reserves accretion portfolio and open up areas of
 future exploration, ONGC has undertaken an Accelerated Programme of
 Exploration with an outlay of Rs 3958 crores.
  
 - The main objectives of APEX was Enhancement in seismic surveys,
 enhancement in exploratory drilling, national seismic programme,
 exploration in frontier areas and acquisition of foreign acerage.
 
 - ONGC has assimilated various technologies in the field of
 hydrocarbons explorations and exploitation.  The Company owns
 Dornier-228 aircraft, chetak helicopter, offshore supply vessels and
 geo-technical survey vessel.  It has 2 central work shops located at
 Baroda & Sibsagar, 7 project workshops and 11 auto workshops located
 at
 various project sites employing multifavious equipments and
 machinery.
 It has also state-of-the-art communication systems both terrestrial
 and
 satelite based for meeting operational & MIS requirements of onshore
 &
 offshore.
 
 1992
 
 - ONGC undertook exploitation of Coal Bed Methane (CBM) potential in
 Damodar valley.
 
 1993
 
 
 - Oil and Natural Gas Corporation Limited (ONGC) was incorporated by
 the Government of India as a Public Limited Company under the
 Companies
 Act, 1956 on 23rd June.  The company is engaged in the exploration,
 development and exploitation of hydrocarbons i.e.  crude oil and
 natural gas.
 
 -The company  was subsequnely converted into a public 

 limited company in Jun.'93 following new liberalized economic policy
 

 adopted by the Government of India in July, 1991 sought to deregulate
 

 and delicense the core sector (including petroleum sector) with
 partial 

 disinvestment of Govt. equity in Public Sector Undertakings and other
 

 measures.  
 
 1994
 
 - The Company acquired the undertaking, business, assets and
 liabilities of the erstwhile Oil and Natural Gas Commission (the
 Commission) on 1st February.
 
 1996
 
 - The company's major projects include installed HX-HY platform for
 the
 development of Heera Phase III completion of Hazira terminal phase
 IIIA
 & the two EOR projects in the heavy oil velt in North Gujarat.  In
 addition, ONGC submitted four new projects for government approval.
 
 - ONGC holds 40% participating interest in three joint venture
 contracts for development of Ravva, Panna-Mukta and Mid & South
 Tapti.
 
 - The Company embarked upon exploration in the deep sea basin on the
 East and West Coast of the country.  The interpretation of Seismic
 data
 acquired in the deep water offshore areas led to identification of a
 number of prospects in Krishna-Godavari, Cauvery, Kerala-konkan &
 Kutch
 basins.
 
 - The Government gave its approval for a joint venture proposal of
 Gas
 Authority of India Ltd., Indian Oil Corporation, Bharat Petroleum
 Corporation Ltd. & ONGC for import of LNG & setting up appropriate
 LNG
 terminals to meet the demand for gas in the country.
 
 - ONGC Videsh Ltd is a wholly owned subsidiary of the company.
 
 - 3428,53,716 shares issued to the President of India.  1076,440,366
 No. of equity shares issued as bonus shares.  66,39,910 No. of
 equity
 shares disinsted.
 
 1997
 
 - ONGC and Bharat Petroleum Corporation Ltd (BPCL), are exploring
 the
 possibility of setting up the proposed paraxylene venture at Hazira
 as
 a private sector project.
 
 - The Oil and Natural Gas Corporation (ONGC) has taken up joint
 venture
 projects in the fields of exploration, development and production in
 seven countries: the United States, Russia, Vietnam, Yemen, Tunisia,
 Egypt and Kazakshtan.
 
 - The Institute of Oil and Gas Production Technology (IOGPT), a
 premier
 research and development institute of Oil and Natural Gas
 Corporation
 Ltd has been awarded the prestigious certificate of ISO 9001 for
 design
 development and consultancy including lab study and training for
 hydrocarbon production, processing and refining.
 
 - ONGC would float a joint venture company to carry out exploration
 at
 Neelam - an oilfield at Mumbai High.  The venture with a private
 foreign company would be set up with an equity participation of 50
 per
 cent each.
 
 - The ministry of petroleum and natural gas has invited joint
 ventures
 with Oil and Natural Gas Corporation for exploration.
 
 - Royal Dutch Shell group, the world's largest oil company, plans to
 join hands with Oil & Natural Gas Corporation to help revive
 production
 at the Neelam oil field of the public sector company.
 
 - For the first time in India, Oil and Natural Gas Corporation Ltd
 (ONGC) has installed a 24-hour video conferencing facility from its
 control room at Bandra to offshore platforms in Mumbai Offshore.
 
 - Leading global oil companies like Chevron, Occidental, Brown and
 Root
 Energy Services (BRES), Total, Marathon Oil, Shell and Amoco have
 approached the Oil and Natural Gas Corporation (ONGC) for a joint
 venture to enhance crude oil output from the Neelam field.
 
 - The joint venture committee of the Oil and Natural Gas Corporation
 (ONGC) is close to finalising plans for picking up a stake in the
 Central India refinery.
 
 - Oil and Natural Gas Corporation (ONGC) is all set to implement of
 part of the recommendations made by McKinsey & Co within two months.
 
 - For the first time, Oil and Natural Gas Corporation (ONGC), the
 oil
 exploration major, has evinced keen interest to participate in the
 equity of a captive power project in Tamil Nadu.
 
 - ONGC Ltd and PGS Ocean Bottom Seismic, a Norwegian company, have
 signed a Rs.180-crore contract for a three-dimensional ocean bottom
 cable technique seismic survey over the Mumbai High field.
  
 - PGS of Norway has been awarded the world's largest 3-D seismic
 survey
 contract for Bombay High.  This is the first time that Oil & Natural
 Gas Corporation (ONGC) has awarded a turnkey contract, consisting of
 acquisition, processing and interpretation of seismic data.
 
 - India's largest oil exploration and production (I&P) company, Oil
 and
 Natural Gas (ONGC) is all set to emerge as a major blue chip in the
 next millennium.
  
 - Oil and Natural Gas Corporation (ONGC) has signed a pact with
 Chinese
 National Oil Co for Exploration and Development to undertake
 operations
 in other countries.
 
 1998
 
 - The proposed joint venture between the Oil and Natural Gas
 Corporation (ONGC) and Lubrizol India may come a cropper.
 
 - Oil and Natural Gas Corporation (ONGC) board will shortly consider
 incorporating a new subsidiary for taking on contract jobs at home
 and
 abroad.
 
 - Public sector giants ONGC and Gas Authority of India Ltd (GAIL)
 have
 locked horns over the setting up of an LPG recovery plant at Gandhar
 in
 Gujarat.
 
 - The Oil and Natural Gas Commission has signed an agreement with
 the
 two government-sponsored gas units of Bangladesh to start
 exploratory
 drilling in Brahmanbaria and Habigonj region of the neighbouring
 country.  After signing of agreement, the ONGC has recently set up
 its
 office in Dhaka.
 
 - The state-owned petroleum giant Oil and Natural Gas Corporation
 will
 soon initiate a large-scale organisation restructuring programme as
 part of efforts to make it more competitive in a liberalised global
 regime.
 
 - Oil and Natural Gas Corporation (ONGC) is holding negotiations
 with
 Arco, an American company, for setting up a 50:50 joint venture for
 coal bed methane (CBM) exploration projects.
 
 - Oil and Natural Gas Corporation (ONGC) has launched a major oil
 hunt
 for the first time in the deep waters off the Krishna-Godavari (KG)
 basin last week when its refurbished offshore rig, Sagar Vijay,
 commenced drilling operations at 530 metres depth in a structure off
 the Amalapuram coast in south Andhra Pradesh.
 
 - State-owned Oil and Natural Gas Corporation (ONGC) is planning to
 set
 up a state-of-the-art integrated radio communication system which
 would
 interconnect the company's different offices within the country.
 
 1999
 
 - ONGC and the Russian oil giant Lukoil entered into an agreement
 last
 week for opening up increased opportunities for joint oil
 exploration
 and exploitation in Central Asian countries.
 
 - Oil and Natural Gas Corporation Limited has mooted the idea of
 setting up a separate subsidiary in information technology to
 develop
 operational and distribution expertise for the oil and petroleum
 industry.
 
 - The Oil and Natural Gas Corporation (ONGC) has set up an expert
 committee to inquire into the first ever fire at a gas producing
 well.
 
 - The Oil and Natural Gas Corporation Ltd (ONGC) will set up two
 major
 oil spill response centres in Mumbai and Kakinada along the western
 and
 eastern coasts, to combat emergency situations arising out of oil
 spills.
 
 - In March, 1999, ONGC, Indian Oil Corporation (IOC) a downstream 

 giant and Gas Authority of India Limited (GAIL) the only gas
 marketing 

 company, agreed to have cross holding in each other's stock to pave
 the 

 way for long-term strategic alliance amongst themselves, both for the
 

 domestic and overseas business opportunities, in the energy value 

 chain.  
 
 2000
 
 - Oil and Natural Gas Corporation and Oil India Ltd have signed
 their
 annual memoranda of understanding (MoUs) with the government for
 performance targets for 2000-01.
 
 - Oil and Natural Gas Corporation Ltd. has entered into refinance
 agreement with the Bank of America for a 0 million syndicated
 loan
 to help ONGC repay its earlier costlier Citibank loan.
 
 - The Company and Indian Oil Corporation Ltd. have proposed a
 strategic
 partnership by way of setting-up an independent corporate entity for
 exploration and production of hydrocarbons and their refining and
 marketing abroad.
 
 - The Oil and Natural Gas Corporation is exploring the option of
 introducing a voluntary retirement scheme for select groups which
 work
 in highly specialised activities like drilling.
 
 - Coal India Ltd and Oil and Natural Gas Corporation have joined
 hands
 to set up a joint venture project for undertaking commercial
 exploitation of coal bed methane, which occurs in high rank coals in
 the coalfields of Raniganj west, Jharia ast, West Bokaro, Ramgarh
 and
 eastern part of north Karanpura.
 
 - Indian Petrochemicals Corporation Ltd (IPCL) has entered into a
 long-term agreemen with Oil and Natural Gas Corporation (ONGC) Ltd.
 for the supply of nearly 5,70,000 tonnes per year of feedstock for
 its
 4,00,000 tonne ethylene cracker at Nagothane.
 
 - The Company is all set to sign a Memorandum of Understanding with
 Venezuela oil major Petroles, for joint efforts in upstream
 activities.
 
 - The Company while gearing up for deregulation of the hydrocarbons
 sector in 2002, will set up a separate marketing division in the
 month
 of September.
 
 - ONGC and IOC two companies have formed aj oint venture, ONGIO, a
 name
 derived by mrging the initial letters of their respective acronyms,
 which will explore opportunities in training and consultancy in the
 oil
 Industry.
 
 - The Company to set up a separate information technology company
 which
 will cater specifically to the oil and gas industry.
 
 - NTPC and ONGC are forming a new joint venture company for setting
 up
 gas residue-based power projects.
 
 - The Company would set up a 360-MW gas-based power project at
 Hazira
 in a joint venture with the National Thermal Power Corporation.
 
 - ONGC Videsh Ltd. will sign an MoU with Indonesian Oil Company
 Pertamina.
 
 - The Company and Reliance have joined hands with Algeria's
 Sonatrach
 to secure an oil field in Iraq for production of crude.
 
 - The Oil and Natural Gas Corporation (ONGC) and BSES have signed a
 memorandum of understanding (MoU) wherein natural gas from an oil
 well
 - 75 km north of Bombay High - will be suppled exclusively to BSES.
 
 2001
 
 - Oil & Natural Gas Corporation Videsh Ltd., the overseas subsidiary
 of
 ONGC, will sign a 1.7 billion dollar deal with Russian national oil
 company Rosneft for taking 20 per cent stake in Russian Far East oil
 and gas field Sakhalin-I, in Mosocow on February 10.
 
 - Oil and Natural Gas Corporation has signed a memorandum of
 understanding with the Ministry of Petroleum and Natural Gas for the
 production of 25.2 million tonnes of crude oil during 2001-2002.
 
 - The Company has tied up with Indian Oil Corporation for
 undertaking
 oil exploration for eight deep-water blocks under the National
 Exploration Licensing Policy (Nelp) II.  The tie up aims at reducing
 the financial risks involved in deep-water exploration.
 
 - ONGC has formulated an exploration strategy for the next 20 years,
 with the twin objectives of doubling the reserve base to 12 billion
 tonnes oil (BtOE) equivalent besides raising the global recovery
 factor
 to 40 per cent or more.
 
 - The ONGC, principally an oil and gas exploration and production
 company, has entered the refining sector too with the commissioning
 of
 the Tatipaka mini-refinery in East Godavari district on September
 3rd
 
 - : As part of its mega restructuring exercise, the Oil and Natural
 Gas
 Corporation has introduced a voluntary retirement scheme for
 trimming
 its 40,000 strong work force all over the country.
 
 - The Oil and Natural Gas Corporation (ONGC) plans to invest Rs
 5,000
 crore in the oil and gas exploration business in order to double its
 reserve base to 12 billion tonnes oil equivalent by 2020, according
 to
 the ONGC Chairman and Managing Director, Mr Subir Raha.
 
 - The Consortium of Cairn Energy, Oil and Natural Gas Corporation
 and
 Tata Petrodyne will invest about 0 million in development of
 Lakshmi
 oil and gas field in Gulf of Khambat by 2008.
 
 - OIL AND Natural Gas Corporation (ONGC) won a two-decade-old
 litigation in the Supreme Court last week when it directed some 10
 industries in Gujarat to pay ONGC interest at the contracted rates
 on
 arrears retained by them during the long period. With this order,
 ONGC
 is expected to get around Rs 500 crore.
 
 -The company entered into strategic alliance with Indian Oil 

 Corporation and set-up ONGIO Internatinal Pvt Ltd. on 8th June 2001 a
 

 50:50 joint venture company for Training, Consultancy & Services in
 

 Hydrocarbon Sector.
 
 2002
 
 - The board of directors of Oil and Natural Gas Corporation (ONGC)
 has approved the acquisition of the Aditya Birla group's stake in the
 joint venture Mangalore Refinery and Petrochemicals Ltd (MRPL).
 
 - ONGC scraps 350 MW naphtha based Hazira power project
 
 - ONGC decides to offer equity for international oil majors with
 which the company would enter into agreement for deep-water
 exploration.
 
 -  Enters into contract with Gas Authority of India Ltd. (GAIL) for
 supply agreements which include both customer end and supply end
 contracts.
 
 - Acquires 20% in gas project of Daewoo International in South Korea
 
 - Retains top most profit making Public Sector Company (PSU) status
 
 - Company dethrones Hindustan Lever Ltd. (HLL) to become India's
 largest company by market capitalisation
 
 - Signs MoU with Bharat Heavy Electricals Ltd (BHEL)  for supply,
 upgradation and refurbishment of oilfield equipment required for
 on-shore and off-shore applications
 
 - Signs price pact with Indian Petrochemicals Corporation Ltd (IPCL)
 for Ethane and Propane removing the one of the last hurdles for
 privatisation of IPCL
 
 - Gets membeship of Federation of Indian Chamber of Commerce &
 Industry (FICCI)
 
 - Government authorises the company to retail petrol & diesel
 
 - Discovers 363 million metric tonnes of crude oil in Gujarat
 
 - Govt invites the company to join Haldia Petrochemicals Ltd. (HPL)
 
 - Hindustan Petroleum Corporation Ltd. (HPCL) ties-up with ONGC to
 purchase LPG
 
 - ONGC strikes deal with refiners to sell crude at international
 prices
 
 - ONGC ranked no.1 among ET 500
 
 - Bags 13 oil blocks under New Exploration Licensing Policy (NELP)
 
 - Hits oil and gas in deep-water exploratory block off the Andhra
 Pradesh coast
 
 - ONGC Videsh ties up with Talisman Energy Inc of Canada  for the
 purchase of 25 per cent interest in the Greater Nile project , in
 Sudan with an oil reserve of 150 million metric tonnes
 
 2003
 
 -  Strikes huge oil and gas reserves west of its Bassein field in the
 Mumbai offshore region
 
 - Finds oil and gas in four locations in offshore Mumbai, Assam and
 Krishna Godavari basin
 
 - Discovers major oil and gas leads at five new locations (
 Laiplingoan in the upper Assam basin and Kavitam in the KG basin -
 onland, B-22-5 in Mumbai offshore and GS-KW in the KG basin -
 offshore)
 
 - Ties up with IOC for supply of crude oil
 
 - Acquires 37.38% Equity Stake in Mangalore Refinery & Petrochemicals
 Ltd. (MRPL)
 
 - ONGC Videsh Ltd. (OVL) purchases 25% stake of Canadian Talisman
 Energy in Sudan oilfield for 1 million
 
 - Strikes oil and gas in Rajasthan
 
 - Transfers the operations and maintenance (O&M) of its three
 multi-support vessels (MSVs), Samudra Suraksha, Samudra Sevak and
 Samudra Prabha, to Shipping Corporation of India (SCI)
 
 - Retains top spot in market cap in ET 500
 
 - Gets the first consignment of its equity oil from the Greater Nile
 oil project in Sudan, where ONGC Videsh Limited (OVL) has taken a 25
 per cent stake
 
 - Ships Sudan oil to India, the first ever shipment of Indian crude
 from a foreign field
 
 - Company ranked in FT Global 500 list
 
 - Enters into an MOU with Bharat Petroleum Corporation Ltd (BPCL) for
 supply of crude oil for a period of two years from April 01, 2002 to
 March 31, 2004
 
 - Hikes stake in Mangalore Refinery & Petrochemicals Ltd. (MRPL) to
 71.49% from 51.25%
 
 - Ends its two-year training and consultancy services joint venture
 with oil refining giant Indian Oil Corporation
 
 - Kicks off deep-water exploration programme
 
 -  ONGC Videsh inks sales pact with Austria-based OMV
 Aktiengesellschaft for acquisition of the OMV Aktiengesellschaft's
 shares in two onshore exploration blocks in Sudan for a consideration
 of 5 million
 
 - Signs agreement with HPCL to supply crude oil
 
 -Cabinet asks ONGC to share part of subisdy onus on cooking fuels
 
 -Smt R D Barkataki, Dr K R S Murthy, Shri J Jayaraman and Jawahar
 Vadivelu ceased to be Navratna directors of the corporation. Shri U
 Sundararajan, Rajesh V Shah and M Chitale have been appointed as
 Navratna directors.
 
 -Signed Memorandum of Understanding (MOU) for supply of crude oil
 with HPCL..
 
 -Oil and Natural Gas Corporation has agreed to be an equity partner
 of Gujarat Industrial Development Corporation for setting up the
 Dahej Special Economic Zone in south Gujarat. As per the MoU, ONGC
 will pick up 26 per cent equity and will be responsible for the
 infrastructure development of the SEZ.
 
 - Oil and Natural Gas Corporation (ONGC) and Bharat Petroleum
 Corporation (BPCL) signed an agreement to cooperate with each other
 through sharing of their core strengths for exploration and
 production, and downstream oil refining and marketing.
 
 -signed MoU with mangalore refinery and petrochemicals ltd for
 supplying crude oil
 
 -Commenced drilling in its 46th well in the Bengal basin. Named
 Gobindapur 1,
 
 -The company entered into a Transaction & Strategic alliance with
 Cairn Energy Plc.
 
 -The company  joins with China Petro to buy oil equity.
 
 -Unveils  billion deep water drilling campaign at Gulf of Kutch
 
 -The Cabinet Committee on Economic Affairs on December 18th approved
 award of five coal bed methane blocks for extracting gas from coal
 seams to state-run Oil and Natural Gas Corporation.
 
 -ONGC - Disinvestment of 10% Equity by Government of India
 
 -BSNL signs MoU with ONGC
 
 2004
 
 -Market capitalisation crosses Rs 100,000 crore
 
 - The board  has approved a proposal to invest Rs 900 crore in a
 five-million-tonne C2-C3 extraction plan
 
 -Finance Minister allows ONGC to buy Mangalore Refinery and
 Petrochemicals stake
 
 -ONGC decides to offer 32 marginal fields to private operators
 
 -ONGC permitted to set up methane plant at Dahej
 
 -Concept Comm bags biggest IPO offer in ONGC
 
 -Service Contracts awarded by ONGC for six marginal Oil Fields
 
 -ONGC launches the Deep-Water Campaign name Sagar Sammridhi
 
 -ONGC awards Rs 1,006 cr contract for Larsen & Toubro
 
 -Govt. of India divests 10% stake in the company by selling 14.26
 crore shares at a cut-off price of Rs 750 per share
 
 -awards Rs 160 cr three year order to supply oil exploration
 equipment for BHEL
 
 -ONGC strikes oil in Bassein offshore field
 
 - ONGC, the upstream petro-biggie, has decided to float a special
 economic zone (SEZ) at Dahej, Gujarat in joint collaboration with the
 Gujarat Industrial Development Corporation (GIDC).
 
 -The government on March 23 issued Rs 348.6 crore worth of fresh oil
 bonds to public sector oil companies ONGC and OIL. The bonds carry a
 coupon rate of 5% for a five-year tenor.
 
 -ONGC Group sales breaches USD 10 Billion mark
 
 -The Oil and Natural Gas Corporation (ONGC) Ltd has discovered gas
 reserves at Khedabari village in Sonamura sub-division of West
 Tripura district with a production capacity of over two lakh cubic
 metre per day.
 
 -Oil and Natural Gas Corporation (ONGC) has tied up with the Indian
 Institute of Foreign Trade (IIFT) for launching a special MBA course
 in international business for its middle-level executives.
 
 -Oil and Natural Gas Corporation (ONGC) enters into separate
 memorandum of understandings (MoUs) with four leading service
 providers for value-based commercial alliance for efficiency in
 different sectors of exploration and production (E&P) activities
 
 -ONGC MoU with Schlumberger for value based commercial alliance
 
 -Oil and Natural Gas Corporation (ONGC) chairman and managing
 director Subir Raha has been conferred with the V Krishnamurthy award
 for excellence for 2004
 
 -State-run exploration firm Oil and Natural Gas Corp (ONGC) has
 signed an agreement with Infrastructure Leasing and Financial
 Services (IL&FS) for setting up a gas-based power project in the
 North-East
 
 -PTC India Ltd (formerly known as Power Trading Corporation of India
 Ltd) has entered into an agreement with Oil and Natural Gas
 Commission for trading of the entire surplus from ONGC's existing
 generating units and new power projects to be set up all over the
 country
 
 -ONGC wins polymers extraction project
 
 -OVL acquires 55 pc holdings in Australian oil block
 
 -ONGC in ally with KSPL, IL&FS to develop Kakinada SEZ
 
 -NLCL ties up with ONGC
 
 2005
 
 -ONGC clinches oil block deal in Nigeria
 
 -ONGC forays into retail market with launch of first outlet at
 Mangalore
 
 -Six ONGC geoscientists bag national mineral award
 
 -ONGC ties up with Hindujas for implementing LNG terminals
 
 - Oil and Natural Gas Corporation Ltd (ONGC) bags trophy from
 Asiamoney for `best deals of the year 2004'.
 
 - Oil and Natural Gas Corporation (ONGC) enters into a MoU with
 Indian Airlines to take two aircraft on lease to meet its operational
 requirements.
 
 -Oil and Natural Gas Corporation and Mittal Investments Sarl, one of
 the investment arms of the L.N. Mittal group, entered into two MoU to
 form two overseas joint ventures companies ONGC Mittal Energy Ltd
 (OMEL) and ONGC Mittal Energy Services Ltd (OMESL)
 
 -GMDC, ONGC forge alliance for coal gassification project.
 
 -ONGC signs MoU with IDE Infotech Ltd.
 
 -ONGC join hands with Rajasthan for Dholpur power project.
 
 -ONGC signs an agreement with CIL for coal mine gasification.
 
 -ONGC Finance Director gets award
 
 2006
 
 -ONGC ties up with Singareni
 
 -ONGC signs MoU with Maruti
 
 -ONGC inks deal with Halliburton to enhance oil production
 
 -Dutch IT co secures contract from ONGC
 
 -ONGC joins hand with MUL for vehicle lease.
 
 -ONGC internal audit bags ISO 9001 rating.
 
 2007
 
 -Oil and Natural Gas Corporation (ONGC) has signed a memorandum of
 understanding with Tatarska Geophysica Technologies (TGT) of Russia
 for increasing production of matured fields.
 
 -ONGC, Eni signs agreement to swap exploration blocks.
 
 -Oil & Natural Gas Corporation Ltd (ONGC) has signed a Memorandum of
 Understanding (MoU) with the Ministry of Petroleum & Natural Gas,
 agreeing on a set of Performance Parameters and targets for the
 financial year 2007-08.
 
 -  ONGC has forayed into a memorandum of understanding (MoU) with
 global oil major, BP, to collaborate in exploration and production
 (E&P) business in India and abroad.
 
 2008
 -  ONGC starts drilling in Cauvery deepwater block.
 
 - ONGC bags SCOPE Gold Trophy for strong Corporate Governance
 scorecard.
 
 - ONGC and Rocksource sign Agreement for Partnership in Deepwater
 Block.
 
 2009
 
 - Oil and Natural Gas Corp (ONGC) reported a gas discovery in the
 west Tripura block in the Assam and Assam Arakan basin.
 
 - ONGC achieves all-time record in oil, gas production.
 
 - ONGC awards contract worth Rs 753 crore to UAE Company.
 
 Major events 
 
 The following table illustrates the major events in the history of
 our Company. 
 
 1993  Our Company was incorporated as =Oil and Natural Gas
 Corporation Limited‘. 
 
 1994  The undertakings of the Commission were transferred to our
 Company. 
 
 1995  The Equity Shares were listed on the BSE and the NSE. 
 
 1997  Our Company was granted the =Navratna‘ status. 
 
 2003  Our Company acquired Mangalore Refinery and Petrochemicals
 Limited, our Subsidiary.  
 
 2004  Our Promoter disinvested 142,179,154 of its equity shares in
 the Company through a public offer. 
 
 2010  Our Company was granted the =Maharatna‘ status. 
 
 Certifications, awards and recognitions 
 
 Our Company has received certifications, awards and recognitions for
 achieving and maintaining high standards 
 in  various  aspects of our business.  Set  forth below  is  a
 description of  some of  the  certifications,  awards  and 
 recognitions received by our Company in the last three fiscal years.
 
 
 Global
 
 2009  Awarded the Golden Peacock Award for occupational health and
 safety.  
 
 2010  Ranked 1st  among oil and gas exploration and production
 companies  in  the world and 
 18th   among  leading global  energy majors as per  =Platts 250
 Global Energy Company‘ list.  
 
 2010  Awarded  1st   runners  up  for  =Best  Presented  Accounts 
 and  Corporate  Governance 
 Disclosure Awards 2009‘ by South Asian Federation of Accountants, an
 apex body of 
 South Asian Association for Regional Cooperation. 
 
 2010  Selected as the =Natural Gas STAR Program‘s International
 Partner of the Year‘ by the 
 United States Environmental Protection Agency. 
 
 2010  Awarded the Golden Peacock Award for climate security. 
 
 National
   
 2010  Awarded  the  gold  trophy  for  =SCOPE  Meritorious  Award 
 for  =Research  & 
 Development, Technology Development & Innovation‘ for 2008-09.
  
 2010  Awarded  the  2nd   =PSU  Awards‘  for  highest  market 
 capitalization  by  =Dalal  Street 
 Investment Journal PSU‘ awards.  
 
 2010  Awarded  the  =BML  Munjal  Award‘  for  excellence  in 
 learning  and  development  in 
 public sector category.
 
 2011  Awarded  the  Leading  Oil  and  Gas  Corporate  of  the  Year 
 and  Exploration  and 
 Production Company of  the Year  in  the Petroleum Federation of 
 India‘s Annual Oil 
 and Gas Industry Awards 2010.