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July 03, 2015 7:15 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: 56
Director of Finance, Whole-Time Director, Member of Human Resource Management & Remuneration Committee and Member of Financial Management Committee
Age: 58
Director of Operations and Director
Executive Vice President
Senior Vice President
Age: 52
Compensation as of Fiscal Year 2015.

ONGC Videsh Limited Key Developments

ONGC Videsh Backed By ONGC Considers Acquisitions

Oil and Natural Gas Corp. Ltd. said it supports its overseas investment arm ONGC Videsh Limited’s move to seek increase in spending allowance and sees more acquisition opportunities abroad. "We support ONGC Videsh move to seek increase in spending allowance, which should be more than USD 1 billion. We see there is lot of opportunities for acquisitions. ONGC Videsh had sought greater financial autonomy to decide on investments of up to USD 1 billion without government nod to speed up acquisition of overseas oil and gas fields. As a corporate philosophy, we like ONGC Videsh to raise funds through debts.” ONGC Chairman and Managing Director D K Sarraf said in an interview after the 107th Annual General Meeting of Indian Merchants Chamber here.

Not A suitable Time To List ONGC Videsh

Listing ONGC Videsh Limited at a time when oil prices have dropped to nearly half in a year will restrict its valuation and hamper business prospects, its Managing Director has said, opposing a government proposal to list the overseas arm of state-run Oil and Natural Gas Corporation. "Ownership structure will change.

ONGC Videsh Limited Mulls Sale Of Assets

ONGC Videsh Limited is seeking sale of assets. Videsh Limited, said,” The company may look at selling strategic stake in some of its exploration assets as and when required. We have a mandate to bring in as much equity oil and gas as possible. So as a policy we will not sell production assets but if a strategic partner is required in some exploratory assets we will bring them on board as and when required.”

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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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