Ongc Videsh

ONGC Videsh, a wholly owned subsidiary of ONGC, is engaged in overseas E&P operations and is India’s largest international oil and gas E&P company.

ONGC in advanced stage for US approval to regain control of Venezuela oil fields

The overseas arm of ONGC has dividends stuck to the tune of $600 million for the stake it holds in Venezuelan projects

ONGC acquires Equior stake in Azerbaijan oilfields for $60 million

OVL "has signed a definitive sale purchase agreement (SPA) for directly acquiring 0.615 per cent participating interest (PI) in offshore Azeri Chirag Gunashli (ACG) oil field in Azerbaijan from Equinor. The agreement also includes acquiring 0.737 per cent shares of the Baku Tbilisi Ceyhan (BTC) pipeline company through its wholly-owned subsidiary ONGC BTC Limited," it added.

OVL secures 3-yr extension for Vietnamese oil block in South China Sea

India’s flagship overseas firm ONGC Videsh Ltd (OVL) has secured another three-year extension to explore oil and gas in a Vietnamese block in the contested waters of the South China Sea, the firm’s parent ONGC said.

ONGC Videsh has less than $100 million stuck in Russia, says official

Indian state oil firms have invested USD 5.46 billion in buying stakes in four different assets in Russia. These include a 49.9 per cent stake in the Vankorneft oil and gas field and another 29.9 per cent in the TAAS-Yuryakh Neftegazodobycha fields.

ONGC Videsh wins $190-million arbitration awards against Sudan

The overseas arm of the ONGC is seeking payment of dues from the Sudanese government for oil and the construction of a pipeline in the northeastern African state, a report has said

ONGC Videsh retakes 20% stake in Sakhalin-1 oil, gas fields in Russia

Russian President Vladimir Putin in October last year disbanded Exxon Neftegaz - a regional subsidiary of US super major ExxonMobil - as operator of the Sakhalin-1 and transferred the project and all of its assets and equipment to a new operator.

ONGC retains 20% stake in Russia’s Sakhalin-1

The company has received approval from Russia to retain 20 percent stake in the project, said Managing Director, ONGC Videsh.

ONGC Videsh bids to retake 20% stake in Russia's Sakhalin-1

Russian President Vladimir Putin earlier this month disbanded Exxon Neftegaz - a regional subsidiary of US supermajor ExxonMobil - as operator of the Sakhalin-1 and transferred the project and all of its assets and equipment to a new operator.

ONGC Videsh announces new oil discovery in Colombia

ONGC Videsh had earlier discovered oil in Mariposa and Indico fields in the years 2017 and 2018, respectively.

ONGC to finalise collaboration with global exploration and production players before FY23-end

Mittal hit the ground running and identified collaborations for exploration and production and a thrust on technology as key areas to steer and scale up the state-owned energy company as India strives for energy security

ONGC aims to arrest decline in production, scale up output to 63.11 MMTOE by FY25 

ONGC said that it will continue to invest around Rs 30,000 crore per year on capital expenditure aimed at arresting the decline in output and subsequently increasing it.

ONGC sells June-loading Russian Sokol crude at record discount: Sources

Demand for crude grades like Sokol, which yields more middle distillates such as jet fuel and gas oil after refining, has weakened sharply.

ONGC Videsh makes two new oil discoveries in Colombia, Brazil

OVL made an oil find in Colombia's onshore exploration block CPO-5 in the Llanos basin and major natural gas discovery in the deep offshore exploration block BM-SEAL-4 in Brazil's Sergipe Alagoas Basin.

Quick Take | OVL listing – wrong timing but long term gains

ONGC Videsh's listing will give investors an opportunity to play a fast growing international oil exploration and production company, a much better play than its parent ONGC

PMO seeks whitepaper on ONGC Videsh, future strategy

The government had on previous occasions looked at monetising ONGC Videsh by listing it on domestic or international bourses.

OVL to exit Kazakhstan's Satpayev oil block

It paid $13 million as a signing amount to Kazakhstan and an additional $80 million as a one-time assignment fee to JSC NC KazMunaiGas (KMG), the national oil company of Central Asian nation.

ONGC shares rise 4% on reports of proposal for ONGC Videsh IPO

Finance ministry has written to oil ministry w.r.t ONGC Videsh IPO, saying the listing of ONGC Videsh will add value to ONGC, sources said.

State-owned oil companies spend 20% of yearly capex target in Q1

PSU oil and gas companies have already spent Rs 17,544 crore in the June quarter, almost a fifth of their total planned capex for the entire year

Venezuela stops payment of oil dues to OVL

OVL, the overseas arm of state-owned Oil and Natural Gas Corp (ONGC), has 40 per cent stake in Venezuela's San Cristobal field, which produces around 18,000 barrels of oil per day.

OVL FY18 net profit up 29% on higher oil production

Consolidated net profit in 2017-18 fiscal at Rs 981 crore was 29.6 per cent higher than Rs 757 crore in the previous financial year, the company said in a statement.

Iran agrees to take all of OVL's Farzad-B gas

Iran previously conditioned granting rights to develop the Farzad-B fields to OVL on Indian firms buying all of the gas produced at the imported-LNG equivalent rate.

OVL signs pact for developing Susangerd oilfield in Iran

The onland Susangerd field in the Khuzestan province is one of the newest finds, which Iran hopes will produce around 30,000 barrels per day of oil in two development phases.

OVL, OIL win Mozambique nod for gas field development

In a press statement, state-owned Oil India Ltd said the Mozambique government has "accorded approval for the development plan for the Golfinho-Atum natural gas field in the Area-1 block located in the Rovuma offshore basin of Mozambique".