ONGC Videsh Limited – Working globally for the Energy Security of India

Introduction

ONGC Videsh Limited, a Navratana Schedule “A” Central Public Sector Enterprise (CPSE) of the Government of India under the administrative control of the Ministry of Petroleum & Natural Gas, is the wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), the flagship national oil company (NOC) of India. 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. With a global footprint spanning 19 countries across 5 continents, ONGC Videsh holds Participating Interests in 32 oil and gas assets.
ONGC Videsh produced 7.265 MMT of Oil & 10.278 MMTOE of Oil & Gas in FY’25 which is 25.3% and 15.9% of India’s domestic production respectively. (Source: PPAC). In terms of reserves and production, ONGC Videsh is the second largest petroleum company of India, next only to its parent ONGC.
The company is pursuing an aggressive growth strategy to expand its global operations and increase oil and gas production. This strategy involves identifying and acquiring promising exploration and production assets, particularly in high-potential regions, to create substantial business units along with the early monetization of exiting reserves. To fund these acquisitions and developments, ONGC Videsh will leverage its financial strength, equity investments, and project financing.
Current Assets Portfolio
ONGC Videsh has stake in 32 oil and gas projects in 15 Countries, viz. Azerbaijan (2 projects), Bangladesh (2 Projects), Brazil (2 projects), Colombia (4 projects), Iran (1 project), Iraq (1 project), Libya (1 project), Mozambique (1 Project), Myanmar (6 projects), Russia (3 projects), South Sudan (2 projects), Syria (2 projects), UAE (1 project), Venezuela (2 projects), and Vietnam (2 projects). Of these, the company operates 16 projects, either on its own or in collaboration with joint ventures partners. Additionally, ONGC Videsh has established 4 international business excellence centres viz. OVL Overseas IFSC Limited (OOIL), India, ONGC Nile Ganga B.V., Netherlands, ONGC Videsh Vankorneft Pte. Ltd., Singapore and ONGC Videsh Atlantic Inc., USA.
ONGC Videsh adopts a balanced portfolio approach and maintains a combination of producing, discovered, exploration and pipeline assets. Currently ONGC Videsh has oil and gas production from 14 Assets, 4 Assets where hydrocarbons have been discovered and are at various stages of development, 11 Assets are under various stages of Exploration, and 3 projects are pipeline projects. This mix ensures a sustainable pipeline for future production and reinforces ONGC Videsh commitment to long-term energy security.
Competitive Strengths
ONGC Videsh operates in highly competitive international oil and gas sector, going head-to-head with the industry’s top players. This competitive environment has fostered the development of strong inherent capabilities and expertise in all areas of their operations. Over the years, ONGC Videsh has forged strategic alliances with a prestigious group of International Oil Companies (IOCs) and National Oil Companies (NOCs). This impressive list includes industry giants like ExxonMobil, British Petroleum, Shell, ENI, TotalEnergies, Repsol, Equinor, MOL, Petrobras, SODECO, SOCAR, AzACG, Rosneft, ADNOC, POSCO International, Petro Vietnam, CNPC, Sinopec, PDVSA, Petronas, Ecopetrol and many more. These partnerships provide valuable expertise and collaboration opportunities.
ONGC Videsh boasts a highly skilled human resource with excellent technical and management capabilities. This team is equipped to handle all aspects of oil and gas project development, from evaluation and interpretation to design and execution. Additionally, they benefit from the ongoing technical and human resource support provided by their parent company, ONGC.  Beyond a skilled core expertise in crucial areas like due diligence, techno-commercial evaluations, bid negotiations and transaction documentations. This comprehensive skillset allows them to navigate the complexities of oil and gas projects from start to finish.
Reserves
ONGC Videsh has 2P reserves of 474.140 MMTOE as on 01.04.2025.
Production Performance
ONGC Videsh holds the distinction of being the first Indian company to produce oil and gas from international assets. Its journey began in 2002-03 with the start of production from Block 06.1 in Vietnam.
Initially, the company saw sustained growth, with production peaking at 9.448 MMTOE in 2010-11. However, geopolitical challenges in North-Eastern Africa and a force majeure situation in Syria caused a decline to 7.260 MMTOE by 2012-13.
Through strategic management and portfolio expansion, ONGC Videsh rebounded, increasing production to 8.357 MMTOE in 2013-14, 8.874 MMTOE in 2014-15, and 8.916 MMTOE in 2015-16. Major acquisitions further boosted its output: a 26% stake in Vankorneft, Russia in 2016, and a 4% stake in the Lower Zakum Concession, UAE in 2018. These additions led to a notable increase in production, reaching 12.803 MMTOE in 2016-17 and 14.833 MMTOE in 2018-19.
ONGC Videsh achieved its highest-ever production of oil and oil equivalent gas (O+OEG) in 2019-20, at 14.891 MMTOE. Since then, a combination of geopolitical factors, including the Russia-Ukraine conflict, the expiration of a license of oil producing block in MECL-Colombia, natural decline in existing fields, and the cessation of production from Block 06.1 in Vietnam, has led to a decline. Production fell to 10.517 MMTOE in 2023-24 and further to 10.278 MMTOE in 2024-25.
Vision
To be a world-class exploration and production company providing energy security to the country.
Objectives

 

• To support India’s energy security
• To build balanced portfolio of exploration, discovered and producing assets in focus countries
• To build a team that excels in performance through assimilation of best practices and technologies
• To be at par with the best international oil and gas companies
• Be the strongest Indian Player in the international E&P
• Build collaborative relations with partners

Assets
CIS and Far East
Azerbaijan (2 projects)
ACG
ACG fields are located in the south Caspian Sea covering an area of 435 Sq. Km., in a water depth of 120-280 meters and about 95 Km. off the coast of Azerbaijan. The name ACG represents three contiguous, NW-SE trending, sub-surface structures named Azeri, Chirag & Deep-water Guneshli. ONGC Videsh acquired 2.72% Participating Interest (PI) of ACG in Caspian offshore in March 2013. ACG PSA extension till December 2049 was signed between AIOC partners and SOCAR in September 2017. As per the Restated and Amended PSA for extension period, PI of IOCs has reduced with ONGC Videsh PI becoming 2.31% from the existing 2.72%, with effect from 01.01.2017. Further, ONGC Videsh has completed the acquisition of an additional 0.615% PI in ACG oil field from Equinor on 29.11.2024 with an effective date of 01.01.2023, thereby increasing its PI to 2.925% as on date. Other partners in the project currently are BP, the Operator, with 30.37% PI, State Oil Company of the Azerbaijan Republic (SOCAR) – 31.65% PI, Magyar OLaj-(MOL) 9.57% PI, INPEX 9.31% PI, Exxon Azerbaijan Limited 6.79% PI, Turkiye Petrolleri Anonim Ortakligi (TPAO) 5.73% PI, and Itochu 3.65%.
On 21.09.2024, ONGC Videsh together with all partners, signed an addendum to the existing PSA which enables the parties to explore, appraise, develop and produce from the Non-Associated Natural Gas (NAG) reservoirs of the ACG field and is effective till the end of the existing PSA life i.e. 2049.

BTC
ONGC Videsh acquired 2.36% PI in Baku-Tbilisi-Ceyhan (BTC) pipeline project in Azerbaijan from Hess Oil and Gas Holdings Inc. in March 2013. Further, your Company completed the acquisition of additional 0.737% shares in the Pipeline Project from Equinor on 29.11.2024 with an effective date from 01.01.2023, thereby enhancing its stake to 3.097%. BTC Pipeline is operated by BP 30.1% PI while other shareholders are AzBTC (SOCAR) – 32.97%, MOL - 8.9%, INPEX - 2.5%%, TPAO - 6.53%, Itochu - 3.4%, TOTAL - 5%, ENI - 5% and Exxon Azerbaijan Ltd. - 2.5%.

Bangladesh (2 Projects)
ONGC Videsh acquired Block SS-04 and SS-09 in Bangladesh during February 2014. In these two blocks, ONGC Videsh was Operator with 45% PI and other partners were OIL with 45% PI and BAPEX with 10% PI (carried). After exploratory results were not as per expectations, ONGC Videsh decided to surrender the blocks. Govt. of Bangladesh accepted ONGC Videsh’s application for withdrawal from the blocks in July 2025.

Myanmar (6 projects)
Block-A1 & A3
A1 and A3 blocks covering an area of 2,129 Sq. Km. and 3,441 Sq. Km. respectively are located in Rakhine Coast Basin in a water depth ranging up to 1500 meters. ONGC Videsh acquired 17% Participating Interest (PI) in January’2002 in A1 and March’2006 in A3 block. Other partners in the blocks are POSCO INTERNATIONAL, the Operator, with 51% PI, MOGE 15% PI, GAIL 8.5% PI and KOGAS 8.5% PI. Shwe & Shwe Phyu gas fields in A1 block were discovered in January’2004 & March’2005 respectively and Mya gas field in A3 block was discovered in January’2006.
Pipeco-1
The mid-stream project is an unincorporated joint venture between the consortium and is a part of the combined development of Block A-1 and A-3. As a part of this project, 110 Km X 32” gas trunk transportation pipeline has been constructed and is being used for transportation of gas from Shwe Offshore Platform (SHP) to land fall point at Ramree Island. ONGC Videsh acquired 17% PI in the Offshore Pipeline Project (Pipeco 1) in July’2013 and other partners are MOGE-15%, GAIL-8.5%, KOGAS-8.5% and POSCO International is operator with 51% PI.
Pipeco-2
A joint operating Pipeline Company named South-East Asia Gas Pipeline Company Limited (SEAGPCL) was formed and registered in June’2010 by the consortium with the objective of laying trans-country gas pipeline from land fall point at Ramree Island to Ruilli at Myanmar-China border. The joint venture company has laid pipeline of 792.5 Km X 40”. ONGC Videsh holds 8.35% PI in Onshore Gas Pipeline Project (Pipeco 2). The other stakeholders in the pipeline project are POSCO International-25.04%, MOGE-7.37%, GAIL-4.17%, KG-SEAGP-4.17 % and CNPC SEAP is operator with 50.9% PI.
B2 & EP-3
In August 2014, ONGC Videsh acquired a 97% participating interest (PI) in two onshore blocks, identified as Block B-2 and Block EP-3, located in Myanmar. The initial exploration period for these blocks has been temporarily suspended until 31st December 2025. A decision regarding future activities will be made after the suspension period concludes.

Russia (3 projects)
Sakhalin-1
Sakhalin-1 is a large oil and gas field in far-east offshore in Russia, spread over an area of approx. 1,140 Sq. Km., which includes three offshore fields namely Chayvo, Odoptu and Arkutun Dagi. ONGC Videsh had acquired 20% Participating Interest (PI) in Sakhalin-I on 31.07.2001. Subsequent to the declaration of Force Majeure in April 2022 and the exit of the Operator Exxon Neftegas Limited (ENL), a new Russian entity Sakhalin-1 Limited Liability Company (S-1 LLC) was established in October 2022 by the Presidential decree issued by Russian Federation. ONGC Videsh has received the consent of the Russian Federation to retain its existing participating interest (20%) in the project, subject to fulfilment of certain obligations. The other shareholders are SODECO: 30% (Subject to similar conditions as ONGC Videsh); Rosneft subsidiaries: 20% (SMNG-11.5 and RN Astra-8.5) as operator, while the remaining 30% PI within S-1 LLC is yet to be determined.
Imperial Energy
ONGC Videsh acquired Imperial Energy Corporation Plc., an independent upstream oil Exploration and Production Company having its main activities in the Tomsk region of Western Siberia, Russia in January 2009. Imperial’s interests comprised of 10 E&P license blocks in the Tomsk region with a total licensed area of approximately 11,038 sq. km, which were granted to the Company during 2005 to 2017 have different validity dates and will expire between the years 2022 and 2038.
Vankor
Vankor field is having an area of 416.5 Sq. Km. is located in the north-eastern part of West Siberian Basin around 142 Km. from Igarka in the Russian Federation. ONGC Videsh acquired 26% equity (15% equity on May-2016 and additional 11% equity on October-2016) in CSJC Vankorneft, a company organized under the law of Russian Federation which is the owner of Vankor Field and North Vankor license. Other partners are Indian consortium of OIL-IOC-BPRL with 23.9% PI and Vostok Oil LLC (an affiliate of Rosneft) with 50.1% PI. RN Vankor is the operator (an affiliate of Rosneft).

Vietnam (2 projects)
Block 06.1
The Block 06.1 located in Nam Con Son basin covering total area of 955 Sq. Km. with water depth 125 to 190 meters and comprises two producing fields namely, Lan Tay and Lan Do. ONGC Videsh acquired 100% stake in the exploration license for Block 06.1 on 19.05.1988. Subsequently, ONGC Videsh divested its share and currently, ONGC Videsh has a PI of 45%, Zarubezhneft EP Vietnam B.V with PI of 35% is the Operator &PetroVietnam holds remaining PI of 20%. After end of field life, Production of gas was ceased from Block 06.1 from July 2025.
Block 128
In May 2006, ONGC Videsh, as the sole operator, acquired the exploratory offshore Block 128 with a 100% participating interest. The company is now planning to re-assess the block's hydrocarbon potential and future activities after analysing additional geological and geophysical (G&G) data from the regulator, PVN.

Middle East
UAE (1 project)
Lower Zakum Concession
A consortium led by ONGC Videsh and comprising Indian Oil Corporation Limited and Bharat Petro Resources Limited had acquired 10% PI in the Lower Zakum Project in UAE in March 2018, through their respective subsidiaries. Total PI of 10% is divided amongst the partners as ONGC Videsh – 4%, IOCL- 3% and BPRL- 3%. The Concession has a term of 40 years with an effective date of 9th March 2018. ADNOC holds 60% PI and is operator of the project. Other partners are INPEX 10% PI, CNPC 10% PI, ENI 5% PI and 5% PI in the project is held by Total.
Africa
Mozambique (1 Project)
Rovuma Area-1 Offshore
Rovuma Area-1 Offshore Mozambique (Area-1) is part of the Rovuma Basin, which is located in the northern part of Mozambique offshore and is one of the largest natural gas discoveries in recent times. The water depth in the block ranges from 500 to 2000 meters. The gas discoveries include Prosperidade, Golfinho-Atum, Tubarao, Tubarao Tigre and Orca.
ONGC Videsh holds net 16% Participating Interest (PI) in the project. 10% PI is held through ONGC Videsh Rovuma Limited (OVRL), wholly owned Indian Subsidiary of ONGC Videsh, and 6% PI is held through 60% shareholding in Beas Rovuma Energy Mozambique Limited (BREML) whereas remaining 40% shares in BREML is held by OIL. Other Area-1 consortium members are TOTAL Energies (Operator-26.5% PI), MITSUI (20% PI), BPRL (10% PI), ENH (National Oil Company of Mozambique-15% PI) and PTTEP (8.5% PI).
South Sudan (2 projects)
GPOC
The project was acquired before the secession of South Sudan from Sudan in March 2003 and consisted of the upstream assets of on-land Blocks 1, 2 & 4. collectively known as Greater Nile Oil Project (GNOP), initially consisted of an area of 49,500 Sq. Km. in the prolific Muglad basin about 780 kms in the South-West of Khartoum, the capital of Sudan. Upon secession of South Sudan from Sudan, Blocks 2A, 2B & 4N are in Sudan and Blocks 1A, 1B, 2A as well as 4S are in South Sudan. The blocks in South Sudan are jointly operated by all partners through a Joint Operating Company ‘Greater Pioneer Operating Company’ (GPOC). ONGC Videsh holds 25% PI in GPOC. Erstwhile partners in the project included CNPC (40%), Petronas (30%) and Nilepet (5%). Petronas exited GPOC in October 2024, and the formal process of it’s PI transfer is still to be completed.
SPOC (Block 5A)
Block 5A is located in the prolific Muglad basin and spread over an area of about 20,917 Sq. Km. ONGC Videsh acquired 24.125% stake in the block in September’2003. Erstwhile partners in the block were Petronas with 67.875% PI & Nilepet with 8% PI. Petronas exited SPOC in October 2024, and the formal process of it’s PI transfer is still to be completed. The block is jointly operated by all partners through a Joint Operating Company-SUDD Petroleum Operating Company (SPOC).

LAC
Brazil (2 projects)
BC-10:
BC-10 Project is a deep-water project covering an area of 2961.67 Sq. Km. located in the Campos Basin approximately 120 km southeast of the city Vitoria off the coast of Brazil, with water depth ranging from around 1400 to 2100 meters. ONGC Videsh had acquired 15% PI in April’2006 and 12% PI in December’2013. ONGC Videsh has 27% PI and other partners are Brava Energy with 23% PI and Shell with 50% PI is operator.
BM Seal-4:
The Block is located in the Sergipe Alagoas Offshore Basin in Northern Brazil and has an area of 320 Sq. Km. with water depths ranging from 1500 to 2700 meters. Exploratory block BM-Seal-4 was originally awarded to Petrobras in August 2000. ONGC Videsh farmed into the block on 04.06.2007 with 25% PI as part of swap agreement between ONGC Videsh and Petrobras (75% PI). Petrobras is the operator of the project.

Colombia (4 projects)
MECL
Mansarovar Energy Colombia Limited (MECL) is a 50-50 JV company of ONGC Videsh and Sinopec International Petroleum Exploration and Production Corporation (SIPC). MECL owns 100% interest in Velasquez field and the Velasquez-Galan pipeline of capacity 55,000 BOPD which runs 189 km from the Velasquez property to Ecopetrol’s Barrancabermeja refinery. ONGC Videsh acquired 50% share in MECL in August’2006.
CPO-5
Block CPO-5 is located in the South Western part of the most prolific oil & gas onshore Llanos Basin, Colombia and has an area of 1992 Sq. Km. The block was awarded to ONGC Videsh in 2008 bid round of Colombia and the PSC’s for the block was signed on 26.12.2008. In June 2010, ONGC Videsh divested 30% PI to Petrodorado Energy (PDQ) while retaining the operatorship of the block. In 2019 Petrodorado Energy transferred its PI to Geopark.
RC-10 & SSJN-7
ONGC Videsh holds a 50% PI in two exploration blocks in Colombia: Block RC-10 since November 2007 and Block SSJN7 since December 2008. Block RC-10, an offshore block of 1,340 sq. km. in the Guajira Basin, is a joint venture with Ecopetrol. ONGC Videsh is the operator of this block. Block SSJN7, a 2,707 sq. km. onshore block in the Sinu San Jacinto Basin, was initially a joint venture with Pacific Rubiales Energy as the operator. In 2017, Canacol Energy took over the operatorship. Currently, ONGC Videsh is in the process of surrendering both blocks to the Colombian regulator, ANH.

Venezuela (2 projects)
San Cristobal
San Cristobal field is located inZuata subdivision of JuninNorte Block of Orinoco Heavy Oil belt in eastern Venezuela and covers an area of 160.18 Sq. Km. ONGC Videsh acquired 40% PI in on 08.04.2008 and signed a joint venture agreement with PdVSA (National Oil Company of Venezuela). A JV company called “PetroleraIndovenezolana SA” (PIVSA) was formed wherein PdVSA holds 60% PI through its subsidiary CorporacionVenezolana del Petroleo (CVP 56%) and PdVSA Social (4%) and ONGC Videsh holds 40% through ONGC Nile Ganga (San Cristobal) BV, a wholly owned subsidiary of ONGC Nile Ganga B.V.
Carabobo-1
The Carabobo Area is located in the East of Orinoco oil belt, Venezuela and is part of the States of Anzoátegui and Monagas. ONGC Videsh along with IOC, OIL, Repsol and Petronas acquired a total of 40% PI in May’2010 from Government of Venezuela. The Partner Petronas exited from the project in 2013 and Petronas 11% shares transferred to PdVSA. The present Participating Interest of partners in Petrocarabobo is PdVSA – 71%, Repsol – 11%, ONGC Videsh -11%, Indian Oil Corporation – 3.5% and Oil India – 3.5%.

DORMANT PROJECTS
During FY’25, ten projects were either dormant or inactive stages. The Farsi Project (Iran)’s exploration period concluded in June 2009, and further discussions on development of the field remain inconclusive. Operations at the Al Furat project (AFPC) and Block XXIV (Syria) have been suspended since 2011-12. The contract for Contract Area 43 (Libya) expired on 21.07.2014. Block-20 (Iraq, erstwhile Block 8) has been inactive since April 2003 due to FM. Temporary suspension of Initial Exploration period for Blocks B2 and EP3 in Myanmar have been extended till 31.12.2025. In Block 128, Vietnam, a re-assessment of hydrocarbon prospectivity and future activities are planned, pending receipt of additional G&G data from the regulator, PVN. In RC-10 (Colombia), closure process of the E&P contract is in progress with regulator ANH, and similar formalities for surrendering of SSJN-7 (Colombia) are also underway with the operator and ANH.

North America
ONGC VIdesh Atlantic. INC (OVAI) G&G Center of Excellence, Houston, Texas USA
The ONGC Videsh G&G Centre of Excellence at Houston, USA (OVAI) was inaugurated on 23rdFeb 2016 and has been conceptualized and formed to act as a think tank and resource base to augment the efforts of ONGC Videsh in its Exploration, Development and Producing assets. The Centre is manned by a very competent team of highly qualified G&G professionals (all employees hold post-graduate qualifications from reputed International Universities and have work experience of super major & major E&P companies of the world).
The primary business of G&G excellence center is to provide the expert technicalsupport to augment the mission of its parent organizationONGC Videsh to prospect for oil and gas acreages outside India, including Exploration, Development and Production of oil and gas.
Project Portfolio
Since its inception in 2016, ONGC Videsh G&G Centre of Excellence has contributed to 60 studies over multiple oil and gas assets in 19 countries spread over 5 continents. Following the similar philosophy of parent company, the center has adopted working for balanced portfolio approach and contributes on a combination of Producing, Discovered, Exploration and Pipeline assets.
Competitive Strengths & Key Skill Sets
The center offers an integration of skill sets ranging from play based assessment, seismic stratigraphy, sequence stratigraphy, clastics and carbonate sedimentology, G&G interpretation in complex structural and stratigraphic regime, volumetric calculations, risk analysis, advanced petrophysical analysis, rock physics and geomechanics, seismic attributes, quantitative geophysical analysis (examples include AVO modeling, fluid substitution, prestack seismic inversion, bayesian classification with uncertainty estimation), geomechanical modeling, geocellular model building, fracture modeling & simulation, and advanced reservoir simulation.
The other advantage comes from the location effects. As the Energy Capital of the World, Houston is the headquarters and the intellectual capital for almost every segment of the energy industry including exploration, production, marketing, supply, and technology. Home to 4,600 energy-related firms, the region remains at the forefront of energy innovation. The critical mass created by such a high concentration of companies and thought leaders in one geographic area yields opportunities for all sectors of the energy industry, including a growing focus on energy technology. All the team members of G&G Centre of Excellence are based at Houston and technically well equipped with global mindset, having wide network in the industry.

Offshore deep-water turbidite reservoir geocellular model
(In-house G&G work at OVAI)

Europe
ONGC Nile Ganga B.V., Netherlands
ONGC Nile Ganga B.V. (ONGBV) was incorporated on September 29,1995 as the wholly-owned subsidiary of the ONGC Videsh Limited (ONGC Videsh) in The Netherlands with its corporate seat in Rotterdam. The company is engaged in the exploration, extraction, marketing, trade and transport of oil, gas hydrocarbons and minerals in certain oilfields.
ONGBV is having two Subsidiaries: ONGC Campos Ltda, (OCL) Brazil and ONGC Nile Ganga (San Cristobal) B.V. (“ONGSCBV”), The Netherlands. ONGBV holds 50% equity share capital of Himalaya Energy Syria B.V., the Netherlands (“HESBV”), 40% equity in FALCON Oil & GAS B.V, and 8.347% in South East Asia Gas Pipeline Co. Ltd.

Van Gogh Museum Library
ONGBV has ownership interests in the following projects directly or through step-down subsidiaries or joint ventures:

• 25% PI in Greater Pioneer Operating Company (“GPOC”), South Sudan
• 40% PI in Petrolera Indo Venezolana SA, in Venezuela through wholly owned subsidiary ONGC Nile Ganga (San Cristobal) B.V., Netherlands
• 27% PI in BC-10 Project in Brazil, through wholly owned subsidiary ONGC Campos Ltda, Brazil.
• 27 % in Tamba B.V. for leasing assets on behalf of BC-10 project.
• 25% PI in exploratory block BM-SEAL-4 located in Deepwater Offshore, Brazil through wholly owned subsidiary ONGC Campos Ltda, Brazil.
• 66% to 18.75% PI in four Production Sharing Contracts in Al Furat Petroleum Company (“AFPC”) which is under Force Majeure situation since 2 December 2011 through Joint Venture Himalaya Energy Syria B.V., Netherlands (for AFPC Syria Project) – 50% ONGBV.
• 8.347% PI in Southeast Asia Gas Pipeline Co. Ltd., (“SEAGP”) for the Pipeline project, Myanmar

Cycling in Amsterdam

• 40% ownership in Falcon Oil & Gas B.V. (a Joint Venture company wherein other shareholders are Indian Oil Global B.V. Netherlands-30% and BPRL International Ventures Ltd. B.V. Netherlands-30%) which holds 10% PI in Lower Zakum Project located in Offshore, Abu Dhabi
• Investment in cumulative preference shares Petro Carabobo Ganga B.V., the Netherlands
• Investment in cumulative preference shares of Imperial Energy, Russia

 

Singapore
ONGC Videsh Vankorneft Pte. Ltd., Singapore
ONGC Videsh Singapore Pte. Ltd (OVSL) is a private limited company, incorporated and domiciled in Singapore. It is a wholly owned subsidiary of ONGC Videsh Limited, India’s flagship state-owned international oil Exploration & Production Company present in 17 countries. OVSL has its corporate office in Singapore.
Through it’s 100% subsidiary ONGC Videsh Vankorneft Pte Ltd, Singapore (OVVL), the company acquired 26% equity (15% equity on May 31, 2016 and additional 11% equity on October 28, 2016) in JSC Vankorneft, a company organized under the law of Russian Federation which is the owner of Vankor Field and North Vankor license. This field is having an area of 416.5 Sq. Km. located in the north-eastern part of West Siberian Basin around 142 Km. from Igarka in the Russian Federation. Vankor is one of Russia’s largest field by production.

Vankor oil pipelines operations
Other partners include a Singaporean company comprising a consortium of Indian companies, OIL, IOC, BPRL with 23.9% Participating Interest and Vostok Oil with 50.1%.

India
OVL Overseas IFSC Limited (OOIL), India
OVL OVERSEAS IFSC LIMITED (OOIL) was incorporated on December 07, 2023 as the wholly-owned subsidiary of the ONGC Videsh Limited (ONGC Videsh) in the Gujarat International Finance Tec-City (GIFT) International Financial Services Centre (IFSC). The Company is registered with International Financial Services Centre (IFSCA) as a Finance Company to undertake the activities as Global/Regional Corporate Treasury Centre.
OOIL is entrusted with the pivotal role of onshoring the holding of overseas investments for ONGC Videsh and its group companies worldwide. By efficiently channeling resources generated globally, the Company aims to support ONGC Videsh’s expansion initiatives and contribute significantly to the nation’s energy landscape.