Petroleum Secretary Tarun Kapoor called the energy industry to take challenges head on and contribute in making India self-sufficient – Aatmanirbhar – at Mantrana 2021. The two-day ONGC Strategy Meet was conducted at Udaipur on 29 October 2021. The inaugural session of the meet, chaired by Petroleum Secretary Tarun Kapoor was attended by CMD Subhash Kumar, JS (R) MoPNG Sunil Kumar, Director (HR) Dr Alka Mittal, Director (Exploration) RK Srivastava, Director (T&FS) OP Singh, Director (Onshore) Anurag Sharma, Director (Offshore) Pankaj Kumar, Independent Director Amitava Bhattacharyya and other senior executives, some of whom joined through video conferencing.
Ceremonial lighting of lamp
In his opening remarks, Mr Kapoor expressed happiness on ONGC holding discussions at a very crucial juncture when the country is making efforts to become Aatmanirbhar in all sectors including energy. “ONGC is one of the strongest companies with abundant technical expertise, but it’s important to think out of the box. The Prime Minister has given a clarion call to make India Aatmanirbhar in energy. It’s important for all the energy companies to accept this challenge and rise to the occasion,” the Secretary said. He stressed on the need for ONGC to have more focused approach to increase the domestic production. Renewables will play a major role in the energy basket of the country and there also ONGC is expected to contribute, he added. ONGC, as the biggest national oil company must contribute more towards adding energy to the kitty of nation.
Petroleum Secretary sharing his thoughts
Mr Kapoor advised ONGC to identify the organizational strengths and weaknesses and work towards utilizing these strengths to perform more effectively. “ONGC has good financial strength and has good repute internationally,” he said. He was also candid in pointing out some of the weaknesses based on his interactions in the industry. One of these being not able to react fast enough to the changes taking place in the industry. “Systems and organizational set-up are some of the other areas which need to be addressed on urgent basis. ONGC need to chart out a long-term strategy, which may require involvement of other players and optimized utilization of its own resources,” Mr Kapoor added.
CMD ONGC expressing his view on the occasion
CMD Subhash Kumar, speaking on the occasion, said that the industry is passing through a difficult phase. He pointed out that the business-as-usual approach will not work and there is a need to create an enabling ecosystem for E&P industry in the country so that synergies can be created. We have a lot of work to do, as balance 18 basins are yet to be explored. He informed that ONGC is now adopting a more focused approach and looking for partners in difficult plays to increase production and reduce the time to develop the fields. “We are seriously engaging with international majors inviting them to partner with us in developing niche areas like HP-HT, deep-water and other difficult plays. We are also inviting them to join hands to expand our exploration footprints,” he added.
Director (Exploration) making the presentation
Director (Exploration) RK Srivastava made a detailed presentation on “Expanding Exploration; Charting New Horizons”. The presentation covered key drivers of exploration and global similarities, roadmap for exploration strategy elements, thrust areas, technology interventions and initiatives.
Director (Onshore) during his presentation
This was followed by a presentation by Director (Onshore) Anurag Sharma on “Enhancing Production through New Business Models”. The presentation covered various topics like strategies for enhancing production through various initiatives like IOR/EOR, infrastructure projects and field development schemes, induction of new technologies and new business models like digital solutions and PEC partnerships. He also presented Northeast vision 2030-ONGC action plan for future growth and Action Plan 2024-aspirations and preparedness.
Detailed deliberations were held during the two presentations. Mr Kapoor, appreciating the contents of the presentations, which he observed were quite focused, stressed on the need to have pragmatic view of the partnerships where ONGC need further improvement. The CMD mentioned about the successful partnerships ONGC is having overseas through OVL. He also mentioned that whenever there was any difference of opinion, it was quickly resolved. Petroleum Secretary, appreciating the focused approach, stressed on the need to make necessary change in the approach which can help in bigger gains for ONGC.
Independent Director Amitava Bhattacharyya stressed on the need for the company to work on the areas to further augment its professionalism. He also mentioned about various regulatory requirements, which sometimes leads to hesitancy in decision making at various levels. He requested Petroleum Secretary to spare some exclusive time for discussions on the issues being faced by the company. He also stressed on the need to introduce the idea of peer review for big ticket projects to ensure that the estimates are more realistic.
Deliberations under progress
The CMD while acknowledging the suggestions advised by the Secretary assured that the company will involve itself in the activities where it is strong and where it makes more economic sense.
In his concluding remarks, Mr Kapoor advised ONGC to make changes in organizational structure to ensure that right mix of people are given responsibility in the field and empower them adequately. He also stressed on the need to ensure that the younger generation should take the ownership. He also advised to make changes in the systems to enable faster decision making. He was particularly mentioning about the contract management which lead to delays and unnecessary litigations, and advised to have a relook at the existing procedures.
“While ONGC will remain a big player, it is important to develop smaller players to enhance the production of hydrocarbons in the country. ONGC can take the responsibility of hand holding and encouraging small vendors,” he added.
He suggested to make short term, mid-term and long-term plans with open mind and work on changing the style of functioning of the organization so that the industry gets a clear message.
Director (HR) Dr Alka Mittal conveyed gratitude to Mr Kapoor for his guiding words during the session. She informed about various initiatives like consolidation of services and identifying and posting right people for the right job. She appreciated Mr Kapoor for his candid remarks and various suggestions he made for improving the functioning of ONGC.
Director (HR) conveying gratitude
Director (Offshore) made a presentation on sustainable production enhancement-offshore covering snapshot of ONGC Oil and Gas production, mature field management – present scenario and future plan of action, asset integrity and new field development.
Director (Offshore) making the presentation
Director (T&FS) during his presentation
One for the album
Director (T&FS) OP Singh made a presentation on Digital & New Technology Infusion for Efficiency Improvement in Services covering aspects like various initiatives in digitalization, Infrastructure upgradation & technology induction in drilling and well services, initiatives in technical services, digitalization in maintenance practices in Materials Management and the future roadmap.