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May 06, 2015 3:19 AM ET

Oil, Gas and Consumable Fuels

Company Overview of ONGC Videsh Limited

Company Overview

ONGC Videsh Limited acquires, explores, develops, produces, transports, and exports oil and gas in India and internationally. The company participates in 33 projects, including 13 producing projects, 14 exploration blocks, 4 discovered/development blocks, and 2 pipeline projects in 16 countries comprising Vietnam, Iraq, Libya, Syria, Sudan, South Sudan, Iran, Mozambique, Brazil, Venezuela, Russia, Myanmar, Colombia, Bangladesh, Kazakhstan, and Azerbaijan. As of March 31, 2014, it had total oil and gas reserves of 637 million tonne oil equivalent. The company was formerly known as Hydrocarbons India Private Limited and changed its name to ONGC Videsh Limited in June 1989. ONGC Videsh Limited ...

Kailash

6th Floor

26, Kasturba Gandhi Marg

New Delhi,  110001

India

Founded in 1965

312 Employees

Phone:

91 11 2373 0368

Fax:

91 11 2373 0369

Key Executives for ONGC Videsh Limited

Managing Director and Director
Age: 55
Director of Finance, Whole-Time Director, Member of Human Resource Management & Remuneration Committee and Member of Financial Management Committee
Age: 57
Director of Operations and Director
Executive Vice President
Senior Vice President
Age: 51
Compensation as of Fiscal Year 2014.

ONGC Videsh Limited Key Developments

ONGC Videsh Eyes Acquisitions

ONGC Videsh Limited is seeking acquisitions. The company plans to consolidate its presence in Africa, North and South America, besides operating deepwater and shallow water projects.

ONGC Videsh Eyes Acquisitions

ONGC Videsh Limited is looking for acquisition opportunities. ONGC Videsh is targeting a capital spending of about $2 billion in the current fiscal year. Narendra Kumar Verma, Managing Director of ONGC Videsh didn't specify if the current figure is a trimmed down version of some larger spending plan earlier. The targeted spending also does not include any expenditure that ONGC Videsh might incur on possible acquisition.

ONGC Videsh Mulls Acquisitions

ONGC Videsh Limited is seeking acquisitions. “ONGC Videsh is looking for acquisitions in Latin America and Africa, said Narendra K Verma, Managing Director of ONGC Videsh. Narendra K Verma, said, “The company is in discussion with several companies overseas.” Narendra K Verma did not divulge details citing confidentiality, but indicated that some announcement are expected soon.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 16, 2014
Block 102/10 and Block 106/10 in South China Sea
 

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