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Its registered office is at New Delhi, India. It is a state-owned enterprise of the Government of India , under the administrative control of the Ministry of Petroleum and Natural Gas. It is the largest oil and gas exploration and production company in the country. It is involved in exploring for and exploiting hydrocarbons in 26 sedimentary basins of India, and owns and operates over 11, kilometers of pipelines in the country.
ONGC has discovered 6 of the 7 commercially producing Indian Basins, in the last 50 years, adding over 7. Before the independence of India in , 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 defense.
Consequently, while framing the Industrial Policy Statement of , the development of the petroleum industry in the country was considered to be of utmost necessity. Until , private oil companies mainly carried out exploration of hydrocarbon resources of India. The vast sedimentary tract in other parts of India and adjoining offshore remained largely unexplored. In , the Government of India decided to develop the oil and natural gas resources in the various regions of the country as part of the Public Sector development.
With this objective, an Oil and Natural Gas Directorate was set up towards the end of , as a subordinate office under the then Ministry of Natural Resources and Scientific Research. The department was constituted with a nucleus of geoscientists from the Geological Survey of India. A delegation under the leadership of the Minister of Natural Resources visited several European countries to study the status of the oil industry in those countries and to facilitate the training of Indian professionals for exploring potential oil and gas reserves.
Experts from Romania , the Soviet Union , the United States and West Germany subsequently visited India and helped the government with their expertise. Soviet experts later drew up a detailed plan for geological and geophysical surveys and drilling operations to be carried out in the 2nd Five Year Plan — In April , the Government of India adopted the Industrial Policy Resolution , which placed Mineral Oil Industry among the schedule 'A' industries, the future development of which was to be the sole and exclusive responsibility of the state.
Soon, after the formation of the Oil and Natural Gas Directorate, it became apparent that it would not be possible for the Directorate with its limited financial and administrative powers as a subordinate office of the Government, to function efficiently. So in August , the Directorate was raised to the status of a commission with enhanced powers, although it continued to be under the government.
In October , the Commission was converted into a statutory body by an act of the Indian Parliament, which enhanced powers of the commission further. The main functions of the Oil and Natural Gas Commission subject to the provisions of the Act were "to plan, promote, organize and implement programs 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 ".
The act further outlined the activities and steps to be taken by ONGC in fulfilling its mandate. Since its inception, ONGC has been instrumental in transforming the country's limited upstream sector into a large viable playing field, with its activities spread throughout India and significantly in overseas territories. In the inland areas, ONGC not only found new resources in Assam but also established new oil province in Cambay basin Gujarat , while adding new petroliferous areas in the Assam-Arakan Fold Belt and East coast basins both onshore and offshore.
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. In the then Chairman, Keshav Dev Malaviya, held a meeting with some geologists in the Mussoorie office of the Geology Directorate where he accepted the need for ONGC to go outside India too in order to enhance Indian owned capacity for oil production.
This resulted in the discovery of the Rostum oilfield in the early 'sixties, very soon after the discovery of Ankleshwar in Gujarat. This was the very first investment by the Indian public sector in foreign countries and oil from Rostum and Raksh was brought to Cochin where it was refined in a refinery built with technical assistance from Phillips.
In , 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. ONGC's operations include conventional exploration and production, refining and progressive development of alternate energy sources like coal-bed methane and shale gas.
It was rechristened on 15 June The primary business of ONGC Videsh is to prospect for oil and gas acreages outside India, including exploration, development and production of oil and gas. It currently has 38 projects across 17 countries. Its oil and gas production reached 8. Oil and Natural Gas Corporation owns It is an oil refinery at Mangalore.
ONGC is holding 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. The basketball team, in particular, is known internationally since several of the players of India's national basketball team have played there.
It is developing a All the major contracts have been awarded and the construction is in full swing. 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. Over , individual shareholders hold approx. As on 31 March , the company has 33, employees, out of which 2, are women 6. 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 Rs. From Wikipedia, the free encyclopedia.
Indian Multinational Oil and Gas company. Operating income. Net income. Companies portal Energy portal. Archived from the original on 25 December Retrieved 30 December Archived from the original on 19 July Retrieved 24 July Archived from the original on 21 September Retrieved 13 September Archived PDF from the original on 9 November Retrieved 9 November Business Standard.
Archived from the original on 9 November Retrieved 10 November Indian Express. Archived from the original on 15 November The Economic Times. Archived from the original on 17 April Retrieved 28 April BBC News. Associated Press. Archived from the original on 12 November Retrieved 4 May Archived from the original on 17 August Retrieved 12 August Archived from the original on 30 November Retrieved 8 December The Gazette of Central Asia.
Archived from the original on 27 October Retrieved 27 November The Hindu. Retrieved 21 February Retrieved 19 July Archived PDF from the original on 17 March Retrieved 13 May Retrieved 28 July CNN Money.
Archived from the original on 21 August Retrieved 22 July Retrieved on August Archived PDF from the original on 10 November BSE India. Archived from the original on 1 December NSE India. Archived from the original on 13 October Archived PDF from the original on 1 September Retrieved 1 September Times of India.
Oil and Natural Gas Corporation
Oil & Natural Gas Corpn Ltd.