ONGC

History

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1947 – 1960

During pre-independence, the Assam Oil Company in the North-Eastern and Attock Oil company
in North-Western part of undivided India were the only oil companies producing oil in the country.
The major part of Indian sedimentary basins was deemed to be unfit for development of oil and
gas resources.

After independence, the Government realized the importance of oil and gas for rapid industrial
development and its strategic role in defence. Consequently, while framing the Industrial Policy
Statement of 1948, the development of the hydrocarbon industry in the country was considered to
be of utmost necessity.

Until 1955, private oil companies mainly carried out exploration of hydrocarbon resources of
India. Assam Oil Company was producing oil at Digboi, Assam (discovered in 1889) and the Oil
India Ltd. (a 50% joint venture between Government of India and Burmah Oil Company) was
engaged in developing two fields Naharkatiya and Moran in Assam. In West Bengal, the Indo-
Stanvac Petroleum project (a joint venture between Government of India and Standard Vacuum
Oil Company of USA) was engaged in exploration work. The vast sedimentary tract in other parts
of India and adjoining offshore remained largely unexplored.
In 1955, Government of India decided to develop the oil and natural gas resources in the various
regions of the country as part of Public Sector development. With this objective, an Oil and Natural
Gas Directorate was set up in 1955 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 Mr. K D Malviya, the then Minister of Natural Resources,
visited several countries to study the oil industry and to facilitate the training of Indian
professionals for exploring potential oil and gas reserves. Foreign experts from USA, West
Germany, Romania and erstwhile USSR visited India and helped the government with their
expertise. Finally, the visiting Soviet experts drew up a detailed plan for geological and
geophysical surveys and drilling operations to be carried out in the 2ndFive Year Plan (1956-57 to
1960-61).

In April 1956, the Government of India adopted the Industrial Policy Resolution, which placed
mineral oil industry amongst 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 limited financial and administrative powers to function
efficiently. So in August, 1956, the Directorate was raised to the status of a commission with
enhanced powers, although it continued to be under the government. In October 1959, the
Commission was converted into a statutory body by an act of 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 programmes 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.

1961 – 1990

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 inland and offshore).

ONGC went offshore in early 70's and discovered a giant oil field in the form of Bombay High,
now known as Mumbai High. 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. The most important
contribution of ONGC, however, is its self-reliance and development of core competence in E&P
activities at a globally competitive level.
After 1990

The liberalized economic policy, adopted by the Government of India in July 1991, sought to
deregulate and de-license the core sectors (including petroleum sector) with partial disinvestments
of government equity in Public Sector Undertakings and other measures. As a consequence
thereof, ONGC was re-organized as a limited Company under the Company's Act, 1956 in
February 1994.

After the conversion of business of the erstwhile Oil & Natural Gas Commission to that of Oil &
Natural Gas Corporation Limited in 1993, the Government disinvested 2 per cent of its shares
through competitive bidding. Subsequently, ONGC expanded its equity by another 2 per cent by
offering shares to its employees.

During March 1999, ONGC, Indian Oil Corporation (IOC) - a downstream giant and Gas
Authority of India Limited (GAIL) - the only gas marketing company, agreed to have cross holding
in each other's stock. This paved the way for long-term strategic alliances both for the domestic
and overseas business opportunities in the energy value chain, amongst themselves. Consequent
to this the Government sold off 10 per cent of its share holding in ONGC to IOC and 2.5 per cent
to GAIL. With this, the Government holding in ONGC came down to 84.11 per cent.

In the year 2002-03, after taking over MRPL from the A V Birla Group, ONGC diversified into
the downstream sector. ONGC has also entered the global field through its subsidiary, ONGC
Videsh Ltd. (OVL). ONGC has made major investments in Vietnam, Sakhalin, Columbia,
Venezuela, Sudan, etc. and earned its first hydrocarbon overseas revenue from its investment in
Vietnam.
Today, Oil and Natural Gas Corporation Ltd. (ONGC) is, the leader in Exploration & Production
(E&P) activities in India contributing 72 per cent to India’s total production of crude oil and 48
per cent of natural gas.

ONGC’s quest for energy goes deeper than setting new benchmarks in deep-water drilling in the
Krishna Godavari Basin or finding new frontiers of energy. Global decline in crude prices
notwithstanding, we have taken significant investment decisions diligently and aggressively,
reversing the production trend in offshore. And now we are venturing into deeper offshore plays
in our quest for energy security. It is this journey that has placed us among Fortune “World’s Most
Admired Companies” and ranked us 3rd in the E&P industry globally on the Platts Top 250
Rankings 2014.

Let’s give you a bird’s eye-view, where we are stand.

Exploration

 Discovered six out of seven producing Basins in India. Located 8.78 billion tonnes of Oil
& Oil Equivalent in Indian Basins with over 400 discoveries
 ONGC is the largest exploration acreage and mining lease holder in India
 83% of established reserves (out of 10.9 BT) in the country has been discovered by ONGC.
 22 new discoveries - 10 new prospects, 12 new pools in FY’15
 Reserve Replenishment Ratio (RRR) for the last ten years has been more than One (3P
Reserves)

Production

 ONGC has been able to arrest decline in majority of its matured fields (of vintage 30-50
years) that contribute 72% of the company’s O+OEG production through its majorly
successful technology-intensive IOR and EOR.
 1184 oil wells and 151 gas wells in offshore and 4735 oil wells and 606 gas wells in onshore
as on April 1, 2015
 Western Offshore production up by 7.5% (16.20 MMT in FY’15 against 15.54 MMT in
FY’14)
 Produces 1.2 million barrels of oil equivalent per day
 ONGC accounts 69% of Crude oil & 70% of Natural Gas production
 Produced 1,743 Million Metric Tonnes of Oil Equivalent so far
 Arrested decline in 14 major fields producing for over 30 years, vis-a-vis global decline
rate of 7% from matured fields.
Our Growth Story

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"Not only had India..set up her own machinery for oil exploration and exploitation... an efficient
oil commission had been built where a large number of bright young men and women had been
trained and they were doing good work" said Pandit JawaharLal Nehru, India's first Prime Minister
to Lord Mountbatten, on ONGC in 1959.

In 1994, Oil and Natural Gas Commission was converted in to a Corporation, and in 1997 it was
recognized as one of the Navratnas by the Government of India. Subsequently, it has been
conferred with Maharatna status in the year 2010.

In its 60 years of illustrious journey, ONGC has crossed many a milestone to realize the energy
aspirations of India. The journey of ONGC, over these years, has been a tale of conviction, courage
and commitment. ONGCs’ superlative efforts have resulted in converting earlier frontier areas into
new hydrocarbon provinces. From a modest beginning, ONGC has grown to be one of the largest
E&P companies in the world in terms of reserves and production.

The Company’s Evolution can be summarized as under:

 1955 – Inception
 1958 – First Oil in Cambay
 1960 – Oil gas discovery in Gujarat
 1963 – Oil in Assam
 1965 – Concept of ONGC Videsh Operations
 1970 – first Offshore well
 1974 – Mumbai High discovered
 1976 – Bassein Gas field of Mumbai High
 1984 – GAIL formed out of ONGC
 1993 – ONGC a limited company
 1999 – Equity swap ONGC, IOC, GAIL
 2003 – Acquired Mangalore Refineries Petrochemicals Ltd from Birla Group
  2003 – Ist equity Oil & gas from Sudan / Vietnam
 2004 – Govt of India divests 10%
 2006 – Diversification – ONGC Petro additives Ltd and ONGC Mangalore Petro Ltd
 2007 – ONGC Energy Centre formed
 2010 – Coal Bed Methane Production
 2013 – Oil at Kazakhstan/Mozambique

With more than 50 years of Exploration ONGC had discovered 6 of the 7 Producing basins of
India. These Oil Producing Basins are;

 1958 – Cambay, Gujarat

 1967 – Rajasthan
 1973 – Assam
 1974 – Mumbai Offshore
 1980 – Krishna Godavari Basin
 1985 – Cauvery Basin

ONGC as an integrated Oil & Gas Corporate has developed in-house capability in all aspects of
exploration and production business i.e., Acquisition, Processing & Interpretation (API) of Seismic
data, drilling, work-over and well stimulation operations, engineering & construction, production,
processing, refining, transportation, marketing, applied R&D and training, etc.
ONGC Corporate Profile - The Largest Energy Company in India

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This Public Enterprise Represents India's Energy Security Through its Pioneering Efforts.

Maharatna ONGC is the largest crude oil and natural gas Company in India, contributing
around 70 per cent to Indian domestic production. Crude oil is the raw material used by
downstream companies like IOC, BPCL, and HPCL to produce petroleum products like Petrol,
Diesel, Kerosene, Naphtha, and Cooking Gas-LPG.

This largest natural gas company ranks 11th among global energy majors (Platts). It is the only
public sector Indian company to feature in Fortune’s ‘Most Admired Energy Companies’ list.
ONGC ranks 18th in ‘Oil and Gas operations’ and 183rd overall in Forbes Global 2000. Acclaimed
for its Corporate Governance practices, Transparency International has ranked ONGC 26th among
the biggest publicly traded global giants. It is most valued and largest E&P Company in the world,
and one of the highest profit-making and dividend-paying enterprise.

ONGC has a unique distinction of being a company with in-house service capabilities in all areas
of Exploration and Production of oil & gas and related oil-field services. Winner of the Best
Employer award, this public sector enterprise has a dedicated team of over 33,500 professionals
who toil round the clock in challenging locations.

ONGC Videsh is a wholly owned subsidiary of Oil and Natural Gas Corporation Limited (ONGC),
the National Oil Company of India, and is India’s largest international oil and gas Company.
ONGC Videsh has participation in 41 projects in 20 countries namely Azerbaijan, Bangladesh,
Brazil, Colombia, Iraq, Israel, Iran, Kazakhstan, Libya, Mozambique, Myanmar, Namibia, Russia,
South Sudan, Sudan, Syria, United Arab Emirates, Venezuela, Vietnam and New Zealand. ONGC
Videsh maintains a balanced portfolio of 15 producing, 4 discovered/under development, 18
exploratory and 4 pipeline projects. The Company currently operates/ jointly operates 21 projects.
ONGC Videsh had total oil and gas reserves (2P) of about 711 MMTOE as on April 1, 2018. For
more information visit: www.ongcvidesh.com.

Global Ranking
  ONGC received Dun & Bradstreet Award 2018 in the 'Oil and Gas Exploration' category
 ONGC received 4 PSE Excellence Awards from Indian Chamber of Commerce in 2016
 This Top Energy Company in India, ranked 11th globally as per Platts Top 250 Global
Energy Rankings, 2017
 Ranked 464 in the Newsweek Green Rankings World's Greenest Companies 2016
 Ranked 14th among global Oil and Gas Operations industry in Forbes Global 2000 list,
2017 of the World's biggest companies for 2017; Ranked 443 in the overall list, 2017 -
based on Sales (US$ 19.89 billion), 288 on Profits, 470 in Assets and 300 Market Value.
 Ranked 26 in 'Transparency in Corporate Reporting' among the world's 124 largest listed
companies published by Transparency International, 2014(Up from 39 in 2012)

ONGC is one of India's Most Valuable Corporations

ONGC is one of the most valuable public sector enterprises working on Indian stock exchanges.

ONGC Represents India's Energy Security through its Pioneering Efforts

ONGC is the only fully–integrated oil and gas company in India, operating along the entire
hydrocarbon value chain. It has single-handedly scripted India's hydrocarbon saga. Some key
pointers:

 ONGC has discovered 6 out of the 7 oil and gas producing basins in India:
 This largest energy company in India has established 8.70 billion tonnes of in-place
hydrocarbon reserves. It has to its credit more than 570 discoveries of oil and gas with
Ultimate Reserves of 3.02 Billion Metric tonnes (BMT) of Oil Plus Oil Equivalent Gas
(O+OEG) from domestic acreages.
 It has cumulatively produced 998 Million Metric Tonnes (MMT) of crude and 645 Billion
Cubic Meters (BCM) of Natural Gas.
 ONGC has won 115 out of a total 254 Blocks (more than 50%) in the 8 rounds of bidding,
under the New Exploration Licensing Policy (NELP) of the Indian Government.
 ONGC's wholly-owned subsidiary ONGC Videsh Ltd. (OVL) is the biggest Indian
multinational, with 41 Oil & Gas projects in 20 countries.
  ONGC produces over 1.26 million barrels of oil equivalent per day, contributing around
70% of India's domestic production. Of this, over 75% of crude oil produced is Light &
Sweet.
 The Company holds the largest share of hydrocarbon acreages in India (61% in PEL Areas
& 81% in ML Areas).
 ONGC possesses about one tenth of the total Indian refining capacity.
 This E&P Company has a well-integrated Hydrocarbon Value Chain structure with
interests in LNG and product transportation business as well.
 A unique organization in world to have all operative offshore and onshore installations
(403) accredited with globally recognized certifications.

Competitive Strength

 All crudes are sweet and most (76%) are light, with sulphur percentage ranging from 0.02-
0.10, API gravity range 26°-46° and hence attract a premium in the market.
 Strong intellectual property base, information, knowledge, skills and experience.
 Maximum number of Exploration Licenses, including competitive NELP rounds. ONGC
has bagged 121 of the 254 Blocks awarded in the 9rounds of NELP.
 ONGC owns and operates more than 25,500 kilometers of pipelines in India, including
sub-sea pipelines. No other company in India operates even 50 per cent of this route length.

Perspective Plan 2030 (PP2030)

PP2030 charts the roadmap for ONGC's growth over the next two decades. It aims to double
ONGC's production over the plan period with 4-5 per cent growth against the present growth rate
of 2 percent. In physical terms the aspirations under Perspective Plan 2030 aims for -

 Production of 130 MMTOE of oil and oil equivalent gas (O + OEG) per year and accretion
of over 1,300 MMTOE of proven reserves.
 Grow ONGC Videsh Limited (OVL) six fold to 60 MMTOE of international O+OEG
production per year by 2030.
  More than 20 MMTOE of O+OEG production per year in India coming from new
unconventional sources such as shale gas, CBM, deepwater and HPHT (High Pressure &
High Temperature) reservoirs.
 Over 6.5 GW power generations from nuclear, solar and wind and 9 MTPA of LNG.
 Scaling up refining capacity to over 20 MMTPA and targeted investments to capture
downstream integration in petrochemicals.

Sourcing Equity Oil Abroad

ONGC Videsh is a wholly owned subsidiary of Oil and Natural Gas Corporation Limited (ONGC),
the National Oil Company of India, and is India’s largest international oil and gas Company.
ONGC Videsh has participation in 41 projects in 20 countries namely Azerbaijan, Bangladesh,
Brazil, Colombia, Iraq, Israel, Iran, Kazakhstan, Libya, Mozambique, Myanmar, Namibia, Russia,
South Sudan, Sudan, Syria, United Arab Emirates, Venezuela, Vietnam and New Zealand. ONGC
Videsh maintains a balanced portfolio of 15 producing, 4 discovered/under development, 18
exploratory and 4 pipeline projects. The Company currently operates/ jointly operates 21 projects.
ONGC Videsh had total oil and gas reserves (2P) of about 711 MMTOE as on April 1, 2018.

ONGC Videsh was incorporated as Hydrocarbons India Pvt. Ltd. on 5 March 1965 to carry out
exploration and development of the Rostam and Raksh oil fields in Iran and undertaking a service
contract in Iraq. The company was rechristened as ONGC Videsh Limited on 15 June 1989 with
the prime objective of marketing the expertise of ONGC abroad. The nineties saw the Company
engaged in limited exploration activities in Egypt, Yemen, Tunisia and Vietnam.

In its new avatar as ONGC Videsh, the company from mid-nineties re-oriented its focus on
acquiring quality overseas oil and gas assets. ONGC Videsh, which had one asset in the year 2000,
gradually succeeded in competing with the best in international arena and could conclude many
large transactions across the world in subsequent years.

During the year ended March 31, 2018, following awards and recognitions were conferred upon
ONGC Videsh:
  The President of India conferred the prestigious SCOPE award for Excellence and
Outstanding Contribution to the Public Sector Management – Institutional Category II
(Miniratna-I & II PSEs) for 2014-15 on April 11, 2017.
 Golden Peacock Award for Risk Management 2017 instituted by the Institute of Directors
(IOD) during Global Convention on Corporate Ethics & Risk Management.
 The ICICI Lombard & CNBC-TV18 India Risk Management Award in the category of
“Best Risk Management Framework & Systems – Risk Technology”.
 Strategic Performance Award in Miniratna-I category at the 5th edition of Governance
Now PSU Awards-2017.

Frontiers of Technology

 State-of-the-art seismic data acquisition, processing and interpretation facilities

 Uses one of the Top Ten Virtual Reality Interpretation facilities in the world
 Alliances with Transocean, Schlumberger, Halliburton, Baker Hughes, IPR, Petrobras,
Norsk, ENI and Shell
 One of the biggest ERP implementations in the Asia

Best in Class Infrastructure and Facilities

 This public sector enterprise operates with 14 seismic crews, manages 262 onshore
production installations, 268 offshore installations, 69 drilling (plus 37 hired) and 54 work-
over rigs (plus 25 hired), owns and operates more than 25,500 kilometers of pipeline in
India, including 4,500 kilometers of sub-sea pipelines.
 ONGC has adopted Best-in-class business practices for modernization, expansion and
integration of all Infocom systems.

The Road Ahead

ONGC looks forward to becoming an integrated energy provider, with:

 New discoveries and fast track development

 Equity oil from abroad
  Downstream value additions & forward integration
 Leveraging state-of-the art technology and global best practices
 New sources of energy
 Production from small and marginal fields
 This E&P company has taken structured initiatives to tap unconventional energy sources
through unconventional gases like Coal Bed Methane (CBM), Underground Coal
Gasification (UCG), Shale Gas and Gas Hydrates, or unconventional energy sources like
wind, solar etc.
 "ONGC Energy Centre Trust", a dedicated centre created by ONGC for holistic research
in non-conventional energy sources, has taken up three projects viz., Thermo-chemical
reactor for Hydrogen, Geo-bio Reactors and Fuel Cells.
 ONGC has already commissioned a 50 MW Wind Farm in Gujarat and plan is afoot to set
up another 100 MW Wind Farm in Rajasthan.
 ONGC has also set up 3 Solar Thermal Engines at Solar Energy Centre, Ministry of New
and Renewable Energy (MNRE) campus at Gurgaon.

Value-chain integration

Value chain Integration ONGC's purchase of majority stake in equity in the ailing Mangalore
Refinery & Petrochemicals Limited (MRPL), a stand-alone refinery of 9.69 MMT capacity in
March 2003 is a standout testimony of ONGC's integrated business model. The refinery capacity
has been progressively upgrqaded to 15 MMT. Besides adding that desired comfort to this Oil &
Gas Company in mitigating higher risk of E&P operation, this deal also set an example in the
Indian business history where a PSU has taken over a joint stock company and turned it around in
a record time of one year.

Moving ahead, ONGC has taken structured initiatives towards value-multiplier integration
projects like - Refinery, LNG, Petrochemicals, Power, SEZ, etc., to have presence in the entire
hydrocarbon value-chain.

ONGC is the key promoter in ONGC Petro-additions Pvt. Limited (OPaL) - a grass root Mega
Petrochemical project in the PCPIR / SEZ zone at Port City of Dahej, Gujarat, India.
Corporate Social Responsibility

In recognition of its role as a 'responsible leader', ONGC’s CSR initiative continues its quest to
make positive, tangible difference in the lives of the vulnerable and disadvantaged, especially in
and around its operational areas. In FY' 17 it spent as much as INR 5,259 million in its CSR
initiatives. With a business paradigm that is based on an interconnected vision - of people's welfare,
societal growth and environmental conservation, ONGC with its Corporate Social Responsibility
activities in India continues to cater to the developmental needs across the following focus areas:

 Education including vocational courses

 Health Care
 Entrepreneurship (self-help & livelihood generation) schemes
 Infrastructure support: roads, bridges, schools, hospitals in and around the company's
operational areas
 Environment protection, ecological conservation, promotion
 Protection of heritage sites, UNESCO heritage monuments etc.
 Promotion of artisans, craftsman, musicians, artists etc. for preservation of heritage, art &
culture
 Women empowerment, girl child development, gender sensitive projects
 Water management including ground water recharge
 Initiatives for physically and mentally challenged
 Sponsorship of seminars, conferences, workshops etc. and
 Promoting sports/sports persons; supporting agencies promoting sports / sports persons.

Corporate Governance

ONGC has taken structured initiatives towards Corporate Governance and its practices which
evolve around multi-layered checks and balances to ensure transparency. Apart from the
mandatory measures required to be implemented as a part of Corporate Governance, ONGC has
gone the extra mile in this regard and has implemented the Whistle Blower Policy, Annual Report
on working of the Audit & Ethics Committee, MCA Voluntary Guidelines on Corporate
Governance, Enterprise-wide Risk Management (ERM) framework.
Health, Safety & Environment

ONGC has implemented globally recognized QHSE management systems conforming to

requirements of ISO 9001, OHSAS 18001 and ISO 14001 at ONGC facilities and certified by
reputed certification agencies at all its operational units. Corporate guidelines on incident
reporting, investigation and monitoring of recommendations has been developed and implemented
for maintaining uniformity throughout the organization in line with international practice.

Corporate Disaster Management Plan and guidelines have been developed for uniform disaster
management all across ONGC. ONGC has also developed Occupational Health physical fitness
criteria for employees deployed for offshore operations. Occupational Health module has now
been populated on SAP system.

Human Resources

This largest energy company has vast pool of skilled and talented professionals – the most valuable
asset for the company. ONGCians dedicate themselves for the excellent performance of the
company. ONGC extends several welfare benefits to the employees and their families by way of
comprehensive medical care, education, housing and social security.
Exploration

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Oil and Natural Gas Corporation Limited (ONGC) is a global energy holding company, engaged
in the oil exploration, development, and production of crude oil and natural gas. Its segments
include Exploration & Production (E&P), and Refining.

ONGC's on-going upstream exploratory efforts are an important segment of its core E&P Business
in India with the responsibility of finding and accreting oil and gas reserves. It has three facets of
hydrocarbon exploration activities viz. Deep Water, Shallow Water, and Onshore exploration
activities.

Seismic Data Acquisition Processing & Interpretation (API)

Seismic data is collected through special wing called “Geophysical services” in form of 2D/3D
surveys done by ONGC’s own survey party/vessels/equipment (in-house) as well as through
contractual hiring by survey contracts. The same process is applicable for bore-hole seismic/wire-
line logging through a separate arm called “Logging services”.

Geophysical Services carry out 2D, 3D, and VSP seismic survey operations in on-land and marine
through its departmental field parties/ contractual crews. The operation, maintenance, and
processing of data acquired are to a large extent done regionally, e.g. Vadodara region caters to
entire West India land Geophysical operations, Dehradun region caters to North and Central India,
Jorhat to North East, Mumbai to entire marine requirements, etc. The equipment support to field
operations is provided by the Regional electronic laboratories (RELs). The seismic data acquired
is processed at Regional computer centers (RCCs) including GEOPIC. Presently, the marine 2D,
3D and VSP data acquisition operations are carried out through outsourcing. All the field crews,
RCCs and RELs are accredited with ISO certification.

The Geophysical Services, to keep pace with the latest developments in Geosciences and
exploration, routinely replaces and upgrades its equipment, lab equipment and computers and its
peripherals. Recently, it has acquired 3 new VSP data acquisition systems and 10 Field Processing
Units (FPUs). Advanced imaging software modules like Earth Study ES-360 and add-on modules
namely MPFI (5D interpolation) and GSMP (De Multiple) of OMEGA software have been
procured for SPIC, Mumbai.

Logging is known to be the “Eye” of E&P Industry enabling the geo-scientists to visualize the
formation and reservoir characteristics. Logging services are responsible for the good logging field
operations involving a number of techniques for measurement of petrophysical parameters of
geological formations penetrated by the drill bit. Data is collected and processed in the form of
logs (Petrophysical parameters vs. depth).The data is then interpreted to obtain the parameters for
hydrocarbon potential, flow characteristics etc. of the well.

The entire Logging database is captured on the EPINET platform which is accessible across the
organization for timely and effective decision making. A dedicated R&D institute for Logging
services ‘’Centre for Excellence in Well Logging” (CEWELL) is operational at Vadodara which
is catering to field specific formation evaluation and Reservoir Characterization problems of assets
and basins. Very few companies in the world are equipped with in-house logging capabilities.
Today the Logging Services of ONGC is the biggest national endeavor of its kind with strong
Operations, Repair Maintenance, Data Interpretation and R&D capabilities.

Presently, 28 Departmental Logging Units (24 in Onshore locations and 4 units in Mumbai
Offshore) and 65 Contractual units have been deployed.

ONGC is in the process of replacement of 23 state-of-art logging units with tools, 19 for onshore
locations and 4 units for western offshore. Two new Departmental Logging Bases will be coming
up at Agartala and Bokaro with 2 units each. With this replacement, the entire logging fleet would
consist of latest equipment which would improve technical capabilities and operational efficiency.

Recently, several initiatives for sprucing up the safety environment in Logging operations have
been taken which include installation of speed governors and GPS for the motion tracking of
Logging Units. Initiative for CCTV coverage of Logging operational area during logging for better
surveillance and operational safety has been ensured at all locations.
Non- Seismic Data Acquisition Processing & Interpretation (API)

ONGC initiated efforts for better subsurface imaging in logistically difficult areas of North-East
and has acquired about 5574 Km2 of Airborne Gravity Gradiometry (AGG) survey data in Cachar
(Pre-NELP Block, AA-ONJ/2) and NELP block, AA-ONN-2001/2 in Mizoram and South East
Geleki in North Assam Shelf. This data will help to unlock new hydrocarbon reserves which would
augment its reserves base and increase in production.

Exploratory performance of ONGC

So far, 26 sedimentary basins have been recognized and have been divided into four categories
based on their degree of prospectivity by DGH. ONGC is carrying out oil exploration in India,
its operated acreages in Nomination and NELP regime in 13 sedimentary basins to tap the potential
reserves of oil and natural gas. The sedimentary basins identified include Assam Shelf, Assam and
Assam-Arakan Fold Belt, Cambay (including offshore), Cauvery (including offshore), Krishna-
Godavari (including offshore), Mumbai Offshore, Rajasthan (Jaisalmer), Kutch Offshore,
Mahanadi Offshore, Saurashtra Offshore, Himalayan Foreland, Bengal, and Vindhyan Basins
spread over the states of Assam, Mizoram, Tripura, Gujarat, Tamil Nadu, Andhra Pradesh,
Rajasthan, Himachal Pradesh, West Bengal and Madhya Pradesh including the east and the west
coast of the country.

FY 2016-17 has been one of the most successful years of the last decade in oil and gas exploration
with more thrust in increased exploration activities during the year. Being one of the leading oil
and gas exploration company, ONGC overachieved Seismic Survey targets for 2D & 3D by 122%
and 105% respectively. 263 LK of 2D seismic data was acquired against a target of 215 LK and
3D seismic acquisition of 7408 SKM was completed against a target of 7060 SKM. A total of 100
exploratory wells were drilled which is higher by 8.7% as compared to 92 wells drilled in the
previous year 2015-16. Of these, 43 wells were proved to be hydrocarbon bearing with a success
ratio of 43%.

ONGC made 23 new discoveries in FY'17, a 35% jump in a number of discoveries year-on-year,
from 17 discoveries made in the previous year, reinforcing its position in the industry. Of the 23
new discoveries, 12 are new prospects (a prospect is considered to be a new area having
hydrocarbon accumulation) while 11 are new pools (a pool is a hydrocarbon accumulation in a
known area in a new horizon). 13 new discoveries were made in England and 10 in offshore wells.
The exploration feat in the year has given a major shot in the arm to India's potential producing
basins. Two discoveries MBS051NAA-2 and GKS101NCA-1 in NELP blocks in Kutch and
Saurashtra Offshore have reinforced confidence to upgrade these basins to Category-I (Producing)
basins through fast track monetization.

SRI-1 discovery in the NELP block KG-OSN-2009/2 in offshore KG basin has established the
huge potential for syn-rift/deeper play in east coast shallow water. Jabara-4 discovery established
hydrocarbons for the first time in Vindhyan Basin and has given impetus for putting Vindhyan
basin on hydrocarbon map of India. In addition, Dayalpur-1 in Assam Shelf has given success in
multiple plays (Basement to Tipam) and has given a boost in exploration in the area.

The accretion (2P) of In-Place hydrocarbons is 135.24 MMt (O+OEG) and the Ultimate Reserve
accretion has been 64.33 MMt (O+OEG), as compared to accretion (2P) of 134.01 MMT(O+OEG)
of In-Place and 65.58 MMt(O+OEG) of Ultimate Reserves for 2015-16.

A significant highlight of initial in place hydrocarbons accreted during the year 2016-17 has been
that 87.3% of the same was through exploratory drilling, while the remaining 12.7% has been
through re-evaluation. Reserve Replacement Ratio (RRR) for the year has been 1.45, against the
MoU target of 1.40 (Very Good) and 1.45 (Exceptional rating).

Further exploratory efforts are continuing in the year 2017-18 for which ONGC has planned to
drill 110 exploratory wells and to carry out 280 LK of 2D, 6368 SKM of the 3D seismic survey.
With these exploratory efforts accretion of Ultimate Reserves of 84.50 MMtoe is
envisaged.Presently, ONGCis operating in 09 Nomination PEL blocks and in 1PEL ONGC has
applied for conversion into ML. ONGC has 350 PML in Nomination blocks and 2 Pre-NELP
blocks. In NELP regime, it has 30 PEL (18 blocks are in England, 11 blocks in shallow waters and
1 blocks in deep-waters) including 8 PMLs(5 PMLs in Cambay Basin, 1 PML in Andhra Pradesh,
1 Shallow water, and 1 deep-water PML). Besides, ONGC has PI in 3 blocks as Non-Operator
falling in various sedimentary basins of the country covering on-land and shallow water (SW)
sectors.
ONGC is making all-out efforts to achieve its set targets for the year 2017-18. 355 LK of 2D
seismic data was acquired against a target of 280 LK and 3D seismic acquisition of 1473 SK was
completed against a target of 2218 SK during the current year. Moreover, 913 SKM 3D seismic
data acquisition was over-achieved during Field Season-2016-17of previous year. As on
01.11.2017, Seismic Survey targets for 2D & 3D have been achieved by 127% and 66%
respectively. A total of 55 exploratory wells were drilled of which 20 wells proved to be
hydrocarbon bearing with a success ratio of 36%.
Vision and Mission

Vision

To be global leader in integrated energy business through sustainable growth, knowledge

excellence and exemplary governance practices.

Mission

World Class

 Dedicated to excellence by leveraging competitive advantages in R&D and technology

with involved people.
 Imbibe high standards of business ethics and organizational values.
 Abiding commitment to safety, health and environment to enrich quality of community
life.
 Foster a culture of trust, openness and mutual concern to make working a stimulating and
challenging experience for our people.
 Strive for customer delight through quality products and services.

Integrated In Energy Business

 Focus on domestic and international oil and gas exploration and production business
opportunities.
 Provide value linkages in other sectors of energy business.
 Create growth opportunities and maximize shareholder value.

Dominant Indian Leadership

 Retain dominant position in Indian petroleum sector and enhance India's energy
availability.
Board of Directors

ongcindia.com/wps/wcm/connect/en/about-ongc/board-of-directors/

The Company is managed by the Board of Directors, which formulates strategies, policies and
reviews its performance periodically. The Chairman & Managing Director (CMD) and Six Whole-
Time Directors viz. Director (Onshore), Director (Technology & Field Services), Director
(Finance),Director (Offshore), Director (Exploration) and Director (Human Resource), manage
the business of the Company under the overall supervision, control and guidance of the Board.

View Organogram

CMD and Functional Directors

Shashi Shanker Chairman & Managing Director

Mr Shashi Shanker has taken over charge as ONGC CMD from 1 October 2017, taking over the
reins of ONGC from Mr Dinesh K Sarraf, who superannuated from service on 30.09.2017.

Mr Shanker is an industry veteran with over 30 years of experience in diverse E&P activities. He
is a Petroleum Engineer from Indian School of Mines (ISM), Dhanbad. He also holds an MBA
degree with specialisation in Finance. He has also received executive education from prestigious
Indian Institute of Management, Lucknow and Indian School of Business, Hyderabad.

Prior to his appointment as Director (T&FS) in 2012, he has progressed through senior
management roles in various work-centers including Institute of Drilling Technology, Dehradun;
West Bengal Project; Assam Project and Deep Water group at Mumbai. He was acclaimed for his
performance in spearheading the deep/ultra-deep water campaign of ONGC which was christened
'Sagar Samriddhhi'.

Under his leadership, ONGC drilled the deepest deep-water well covering a water depth of 3174m,
a world record. He also led the team to one of the finest Drilling performance in FY'17 when
ONGC set a new record of drilling over 500 wells in 2016-17. This is the first time in 23 years that
ONGC has crossed the 500-well mark.

Under his guidance, the Company has led the delivery of cutting-edge IT solutions that drive
growth, streamline performance and promote efficiency. He has provided much needed support
for effective use of ERP and SCADA platform for real time information. During his tenure, ONGC
has conceptualized an ambitious companywide project called "DISHA" for creation of a paperless
office platform, the implementation of which is now underway.

Shri Shanker is also the Director (In-charge) for ONGC Tripura Power Company (OTPC) and
North East Transmission Company Ltd (NETC) besides being on the Board of ONGC Videsh. He
is also the Director (In-charge) and Member of the High Powered Steering Committee for
Government's flagship initiative 'Make-in-India'. His vision and dynamic attributes have helped in
making numerous operational and policy initiatives and steering the company through many
milestones.

Ajay Kumar Dwivedi Director (Exploration)

Mr. Ajay Kumar Dwivedi has taken over the reins as the Director (Exploration) in the Maharatna
Board of India’s flagship explorer ONGC. A post-graduate from Kanpur University, Mr. Dwivedi
has a distinguished career of more than 34 years in ONGC, holding key exploration-related
assignments at different work centers starting from Mumbai, moving to Dehradun in North, to
Chennai in South, then Jorhat in the east, Vadodara in the west and as Basin Manager MBA Basin,
Kolkata, before finally taking over Western Offshore as Basin Manager.

Mr. Dwivedi has managed ONGC’s prime exploration portfolios in Western Offshore –Kutch-
Saurashtra, Mumbai Offshore and Kerala-Konkan Basin. Under his leadership, Western Offshore
Basin has achieved 109 MMt of Oil plus Oil Equivalent Gas including 4 discoveries and won the
coveted CMD’s trophy for Best Basin. Prior to this, Mr. Dwivedi as Basin Manager, Mahanadi,
Bengal & Andaman Basin managed the exploration performance of all the three basins. During
his stint as Block Manager – Mehsana-Patan-Rajasthan Blocks of Cambay Basin, initiated
integrated analysis of geo-scientific data leading to accretion of reserves resulting in two
discoveries from the blocks. As a Block Manager of North & South Assam Shelf Blocks at Assam-
Assam Arakan Basin, he diligently managed exploration performance of six onland acreages
covering the oil prolific fields leading to two discoveries. Mr. Dwivedi managed performance of
six offshore blocks and two onland blocks of Cauvery Basin leading to one onland discovery. Mr.
Dwivedi has played pivotal roles in the Management Committees of various NELP blocks.

His keen analytical acumen coupled with a people-centric approach has been his forte. His strength
has been to encourage Multi-Disciplinary team working in various capacities across the
organization. As a core team member of joint project team on organizational change program, Mr.
Dwivedi was involved with redesign of structure, systems and business processes aligned to Asset
based model and their implementation in two pilot projects. As a member of the task force formed
by Director (Exploration), he was entrusted with the responsibility of formulating long term
strategy of exploration for ONGC with the aim of doubling the reserve accretion by year 2020.

With his rich academic lineage, Mr. Dwivedi has authored a number of technical papers. The
noteworthy ones are ‘Acoustic impedance as a lithological and hydrocarbon indicator – A case
study from Cauvery basin’ published in Leading Edge, July 2006 issue; he co-authored papers on
‘Sequence stratigraphy and systems tract analysis of Eocene and Miocene sediments in Kutch
Offshore, India’ and ‘Hydrocarbon Prospectivity Perception of West Andaman area over the
Ninety East ridge and Andaman back arc basin’. He has contributed as member of task force on
“Standardization of Lithostratigraphy of Bombay Offshore Basin”. Mr. Dwivedi was Head of the
steering committee for project on sequence-stratigraphy and petroleum systems in all the
sedimentary basins of India in association with Dr. Octavian Cataneanu, an expert in sequence
stratigraphy.

A strong believer in continuous development, Mr. Dwivedi has undergone various development
programs, including those at Indian School of Business, Hyderabad and University of Alberta
School of Business, Alberta, Canada. He is affiliated to SPG - India, AEG – India and SPE and
presently holds the office of President, SPG-India.

Mr. Dwivedi joins the Board of ONGC at a crucial juncture when the business environment is not
only challenging but also demanding in respect of exploration.

Subhash Kumar Director (Finance)

Mr Subhash Kumar has taken charge as Director (Finance), ONGC on 31 January 2018. Mr Kumar
was recommended to the position by Public Enterprise Selection Board (PESB) on 26 October
2017 and has been appointed to the post by the President of India.

Prior to joining as Director (Finance), ONGC, Mr Kumar served a brief stint with Petronet LNG
Limited where he joined as Director (Finance) in August 2017.
Mr Kumar is Fellow Member of ICMAI and also Associate Member of ICSI. He is an alumni of
Panjab University, Chandigarh, where he obtained his Bachelors degree and Masters degree in
Commerce with Gold Medal.

Mr Kumar joined ONGC in 1985 as Finance & Accounts Officer (F&AO). After initially working
in Jammu and Dehradun, he had a long stint at ONGC Videsh, the overseas arm of ONGC. During
his tenure with ONGC Videsh, Mr Kumar was associated with key acquisitions and expansion of
company's footprint from single asset company in 2001 into a company with global presence in 17
countries with 37 assets. He played a key role in evaluation and acquisition of many Assets abroad
by ONGC Videsh.

He worked as Head Business Development, Finance & Budget and also as Head Treasury Planning
& Portfolio Management Group at ONGC Videsh from April 2010 to March 2015. He then went
on to serve as Chief Financial Officer of Mansarovar Energy Colombia Limited, a 50:50 joint
venture of ONGC Videsh and Sinopec of China, from September 2006 to March 2010.

Mr Kumar joined back ONGC as Chief Commercial & Head Treasury of ONGC in July, 2016
where he played a key role in evaluation, negotiation, and concluding outstanding issues pertaining
to the organization.

Rajesh Kakkar Director (Offshore)

Mr Rajesh Kakkar has taken over charge of Director (Offshore) of Oil and Natural Gas Corporation
(ONGC) on 19 February 2018. As Director (Offshore), he will look after oil and gas production
from ONGC’s offshore fields that contribute 70% and 78% of ONGC’s domestic crude oil and gas
production respectively.

Mr Kakkar has more than three and a half decades of experience in the various aspects of
operations and management in both offshore and onshore fields. He played a key role in reversing
the production trend at Western Offshore in 2015. He has been pioneer of “field-life-cycle
maximization” to enhance production from the ageing fields. Through many brownfield as well as
marginal field development, he has ensured incremental production of oil and gas.

He has held key positions in various high-level committees and task forces concerning oil & gas
development projects and played a pivotal role in ensuring health safety and environment as far as
the offshore operations are concerned.

Mr Kakkar is also well-known for his people management and interpersonal skills to foster team
approach to the operations. He holds a Bachelors degree in Mechanical Engineering with Honors
from Ravi Shankar University, Raipur. He completed Global Managers’ program at IIM, Kolkata
and Leadership Development Program at IIM, Bangaluru. He was recognized as the “Young
Executive of the Year” in 1991 and also received Chairman’s award in 1992 for “Consistent
Performance in Offshore Production Operations”.

Sanjay Kumar Moitra Director (Onshore)

Mr Sanjay Kumar Moitra has taken over charge of Director (Onshore) of Oil and Natural Gas
Corporation (ONGC) on 18 April 2018. As Director (Onshore), he will look after oil and gas
production from ONGC’s onshore fields.

With over 35 years of experience in oil & gas production activities at various Indian basins, Mr
Moitra has conceptualised many out-of-box ideas for efficient resource management leading to
implementation of a large number of complex and high-value projects in India's oil & gas industry.

Before assuming charge as Director (Onshore), Mr Moitra headed the Bassein & Satellite (B&S)
Asset in Western Offshore, Mumbai - the highest gas-producing and second highest oil producing
Asset of ONGC and the country - since 2013. The B&S Asset caters to about 30% of total gas
production of the country.

Earlier he has also handled critical senior management roles including Head Well Services-
Offshore & Chief Offshore Technology & Projects [2012-13], Surface Area Manager - Mumbai
High (North) [2010-12], In-charge Facility Engineering Group - Western Offshore [2008-10],
Head- Production Planning, Monitoring & Analysis Group of all Offshore Assets and Plants of
Mumbai Region of ONGC [2004-08].

He has headed various high-level committees and task forces to oversee critical projects related to
oil and gas production, facility renewal, operational issues and technology initiatives.

A thorough technocrat, Mr Moitra has authored many scientific papers relevant to the oil and gas
industry. He authored & presented a paper on “Integrated Asset Model of Mumbai High Field” at
Offshore Technology Conference (OTC-2007), Houston, USA and also co-authored a paper on
“Implementation of Integrated Network Optimization Model for the Mumbai High Field—Crucial
to Field-Wide Optimization” at Offshore Europe-2009 at Aberdeen, UK.

Mr Moitra joined ONGC in the year 1982. He holds a BE in Mechanical Engineering from Jabalpur
University, India and has also completed an Advance Management Course from Cambridge
University, UK in 2011.
Navin Chandra Pandey Director (T&FS)

Mr. Navin Chandra Pandey has assumed the charge of Director – Technical and Field Services
(T&FS) of Oil and Natural Gas Corporation Ltd (ONGC) on 29 October 2018. Mr. Pandey is a
Mechanical Engineering graduate from Motilal Nehru Regional Engineering College, Allahabad
(NIT, Allahabad).

Mr. Pandey joined ONGC in 1982. He has a vast experience of over 36 years in the oil and gas
industry. He held various key positions in both offshore and onshore portfolio, handling
challenging assignments in oil and gas asset management, operations and services. With his
excellent project execution skills, Mr. Pandey has a strong track record in project delivery.

He has a rich experience in offshore deep-waters and shallow waters as well as onshore drilling.
As Operations Manager of deep-water areas, he brought about significant performance
improvements in deep-water drilling operations. He is credited with successful management of
floater drilling rigs Sagar Bhushan and Sagar Vijay. He was conferred CMD’s ‘Manager of the
Year’ award in 2007.

As Asset Manager of CBM Asset Bokaro, he catalyzed a turnaround in the Asset operations by
fast-tracking development activities in major CBM blocks including land acquisition and
synergizing resource mobilization.
Dr. Alka Mittal Director (HR)

Dr Alka Mittal has joined as Director (HR) of Oil and Natural Gas Corporation Limited on
27.11.2018. Dr Alka Mittal is a post graduate in Economics, MBA (HRM) and Doctorate in
Commerce and Business Studies, she joined ONGC as a Graduate Trainee in 1985 and brings with
her an extremely rich experience spanning over three decades.

Dr Mittal is the first woman to hold the charge of a full-time Director in ONGC’s history. She is
also on the board of ONGC Mangalore Petrochemicals Limited (OMPL) as ONGC nominee
Director since August 2015.

Prior to joining as Director (HR), Dr Mittal held the post of Chief Skill Development (CSD) of the
Company. In her capacity as CSD she streamlined the activities and brought in uniformity in the
working of the Skill Development Centres of ONGC. During this period, she has also implemented
the National Apprenticeship Promotion Scheme (NAPS) in ONGC engaging more than 5000
apprentices across all work centres.

Previously she worked as Head CSR at Corporate Office and took up major CSR projects across
India.

Earlier, she has led the HR-ER functions in various capacities across regions including Vadodara,
Mumbai, Delhi and Jorhat, and was also the Head of Corporate Communications of ONGC during
2009.
She has a special penchant for training and mentoring, and has trained more than 11000 GTs of
ONGC since 2001 on “Corporate Governance” as part of their induction program.

As a senior HR specialist, Dr Alka Mittal has made rich contributions in various professional
forums and bodies. She is an Executive Committee member of NIPM (National Institute of
Personnel Management), and was President of Forum for Women in Public Sector (WIPs)
Northern Region till recently and heads the Women Development Forum of ONGC.

Dr Mittal has always strived to foster the philosophy of equal opportunity employer and has
contributed towards creating an inclusive workplace ecosystem in ONGC.

Government Nominee

Amar Nath Government Nominee (Joint Secretary - Exploration)

Mr. Amar Nath, Joint Secretary (Exploration) Ministry of Petroleum & Natural Gas is the
Govt. nominee Director and joined the board on 28 June 2016.

Mr. Amar Nath, an IAS Officer (1994 AGMUT Cadre) is a Bachelor of Science (Mechanical
Engineering) from National Institute of Technology, Kurukshetra, Kurukshetra University and
MA (International Development Policy) from Duke University, USA. Shri Amar Nath was
Secretary to the Department of Health, Government of National Capital Territory of Delhi prior to
the present assignment. He has held the positions of Administrator of Union Territory of
Lakshadweep, Chief Executive Officer of Delhi Urban Shelter Improvement Board, and Chief
Executive Officer of Chandigarh Housing Board in Chandigarh.

He has extensive experience of working in various Departments of Government at senior

management positions such as Finance, Economic Planning, Tourism and Industrial Development
in the states of Arunachal Pradesh, Pondicherry, Chandigarh and Delhi. Before joining IAS in
1994 he worked with State Bank of India and Steel Authority of India.

Rajiv Bansal Government Nominee (Additional Secretary & Financial Adviser)

Shri Rajiv Bansal, IAS is Additional Secretary & Financial Adviser,Ministry of Petroleum and
Natural Gas, Government of India.

He was earlier in Ministry of Electronics and Information Technology (MeitY) where he was
looking after Digital Payments, IT Act, Aadhaar, and Internet Governance. During his career
spanning almost 30 years, Shri Bansal has worked as Secretary, Central Electricity Regulatory
Commission (CERC), Joint Secretary, Department of Heavy Industries, Government of India and
Director, Ministry of Civil Aviation, Government of India. He has earlier been on the Board
BHEL, NACIL, AYCL, Alliance Air, HMT and GITA. He has also held important assignments in
the State Government.
He is a Civil Engineer by profession having graduated from IIT, Delhi in 1986 and has a Diploma
in Finance from ICFAI, Hyderabad and an Executive Masters in International Business from IIFT,
New Delhi.

Independent Director

Ajai Malhotra Independent Director

Ajai Malhotra holds an M.A. in Economics from The Delhi School of Economics, University of
Delhi. He joined the Indian Foreign Service (IFS) in 1977 and besides assignments at the Ministry
of External Affairs, New Delhi, worked at Indian diplomatic missions in Bucharest, Geneva,
Kuwait, Moscow, Nairobi, New York and Washington DC.

He was Minister (Commerce) at the Embassy of India, Washington DC (1999-2003), serving

simultaneously from 2002-2003 as Chairman of the International Cotton Advisory Committee. He
was Ambassador of India to Romania, concurrently accredited to Albania and Moldova (2003-
2005), Ambassador and Deputy Permanent Representative of India to the United Nations, New
York (2005-2009), Ambassador of India to Kuwait (2009-2011), and Ambassador of India to the
Russian Federation (2011-2013), before retiring from the IFS on November 30, 2013, after nearly
37 years of distinguished service.

His wide ranging experience includes being on the Indian team negotiating issues such as
biological diversity, climate change, desertification, education, energy, forestry, health, human
rights, human settlements, intellectual property rights, international law, labour, ozone depletion,
sustainable development and international trade. In 2004, he was awarded an Honorary Doctorate
by Western University of Arad, Romania, in recognition of his work in support of environment
and development.

He is presently a Distinguished Fellow at The Energy and Resources Institute (TERI), New Delhi,
besides being Chairman and Managing Trustee of two organisations serving the underprivileged -
CHIKITSA and SHIKSHA - as well as Chairman, Nehru Trust for the Indian Collections at the
Victoria & Albert Museum, and Chairman, NAB Centre for Blind Women & Disability Studies.
He frequently contributes to seminars on economic, environmental, defence, political, trade and
security issues.

K M Padmanabhan Independent Director

K.M. PADMANABHAN, Chartered Accountant in practice for more than 27 years and is the
Senior Partner of SRINIVAS and PADMANABHAN, Chartered Accountants, Chennai.

As a practicing Chartered Accountant, he has created Internal Control Systems, processes and
procedure besides rendering business consultancy for a very big South based educational
institution spread into engineering, medical and also into hospitals.

He has been a regular Visiting Faculty in the area of Finance and Accounting at Indian Institute of
Management (Indore), Indian Institute of Management (Raipur), Institute for Financial
Management and Research (IFMR), RBI Staff Training College, Tamilnadu Judicial Academy,
The Institute of Chartered Accountants of India (ICAI). He has been trained in Case Method
Teaching at Harvard Business School, Boston, USA and at Harvard Business School Center,
Shanghai, China.

He is the founder member of Prerana Helpline Foundation (NGO) that caters for the need of
visually challenged people.

He was able to eliminate wastes and non- value added expenditure through Business Process
Reengineering and Kaizen cost Reduction Methods for various business units in the SME sector
in the last 10 years of business consulting

As a person trained in the pedagogy of Case Method Teaching at Indian Institute of Management,
Ahmedabad and at Harvard business School, Boston, USA, he had trained thousands of non-
finance executives in Finance, costing, and kaizen cost Reduction with strategic orientation.

He is also a Managing committee member of Madras Management Association one of most

acclaimed management associations in India.

Shireesh B Kedare Independent Director

Prof. Shireesh B. Kedare has obtained his B.Tech. in Mechanical Engineering from IIT Bombay
in 1985. He also obtained his Ph.D. in 1992 from IIT Bombay in “Reciprocating Wind Machine”.
He spent three years (1992-95) as a volunteer in social sector working on different issues related
to ‘Development’. He started his engineering consultancy in energy and environment in 1995. He
worked as a Technical Consultant (1998-2001) to the Chairman, Khadi and Village Industries
Commission when he worked on the issues related to Development of Rural Industries Clusters.
He is presently associated with IIT Bombay as a Professor.

He joined Department of Energy Science and Engineering, IIT Bombay as an adjunct faculty and
simultaneously Clique Developments Ltd., an engineering Company in Mumbai as its Director
(R&D). Based on his studies on different renewable energy systems, he identified a need for
developing concentrating solar thermal collectors for industrial process heat applications way back
in 1997. He acted as a Principal Investigator (2004 to 2007) under IIT Bombay-Clique R & D
project of ARUN 160 (160 sq.m Fresnel Paraboloid Solar Concentrator for industrial process heat)
sponsored by MNRE (Ministry of New and Renewable Energy), New Delhi. He has also worked
on integration of solar concentrator technology for a variety of industrial processes as well as
commercial applications using steam, pressurized water or thermic fluid as media and for steam
augmentation in thermal power plants.

Along with optimization of Solar Industrial Process Heat Systems with and without storage, his
focus is on development of solar thermal power plant with storage working for 24 h/d suitable for
Indian conditions. He is also associated with Centre for Technology Alternatives for Rural Areas
(CTARA), IIT Bombay and is working on rural energy and other technologies. He is presently
focusing on problem assessment and development and dissemination of small and affordable
implements for performance improvement for traditional wood fired cook-stoves (Chulha) used in
different regions of the country.
Deepak Sethi Independent Director

Deepak Sethi is a Commerce Graduateand a Fellow member of the Institute of Chartered

Accountants of India, having rich experience of 32 years practice in conducting Statutory, Tax and
Internal Audits of Companies, Partnership Firms, Proprietary concerns, Schools, Universities,
Hospitals, Trusts etc.

He has a vast practice of Direct & Indirect Taxation and has appeared before Appellate Tribunals
of Service Tax, Sales Tax, Income Tax etc. He also possesses experience of Statutory audit,
inspection and revenue audits of Public Sector Banks, loss assessment for insurance Companies,
Bank Financing for Manufacturing Trading & Services providers, Financial advisory & consulting
work for Corporate and HNIs.

Sumit Bose Independent Director

Sumit Bose is presently Vice Chairman, National Institute of Public Finance and Policy (NIPFP).
He was the Union Finance Secretary & Revenue Secretary in the Ministry of Finance, Government
of India till his retirement in March, 2014. Thereafter, he was a Member of the Expenditure
Management Commission.

Educated at the Doon School, Dehradun (class of 1970), St. Stephen’s College, Delhi and the
London School of Economics, he joined the Indian Administrative Service in 1976.

In the Ministry of Finance, Government of India he was also Secretary, Department of Expenditure
from May, 2011 to August, 2012 and Secretary, Department of Disinvestment from February,
2010 to May, 2011. He was Secretary in the Thirteenth Finance Commission, from August 2007
to January 2010. Earlier, between 2004 and 2007, he was the Principal Secretary, Finance in the
Government of Madhya Pradesh. As Joint Secretary in the Ministry of Human Resource
Development, Government of India, between 1998 and 2003 he undertook the task of launching
the Sarva Shiksha Abhiyan. He had also served as Secretary, School Education in Madhya Pradesh
between 1994 and 1996.

Vivek Mallya Independent Director

Vivek Mallya is a Fellow member of the Institute of Chartered Accountants of India, Certified
Public Accountant (USA) and a Master’s Degree Holder in Commerce from Mysore University.
He has a rich experience of practice as a Chartered Accountant. His practice areas include
International Taxation, Income tax, Foreign Exchange Management Act and Banking matters.
He also holds the position of Honorary President of a leading NGO in Bangalore.

He regularly appears on popular Kannada News channels on Economic and Financial Matters and
is a regular speaker at ICAI. He has also spoken at various International forums on Indian Tax
and Economic matters.

Travelled extensively, he also advises clients on cross-border structuring, Acquisition and

Overseas direct investment matters and represents his clients before Enforcement Directorate, RBI,
Income-tax Appellate and Assessment matters.

Prior to Practising on his own, he was a Partner with PWC, a Big 4 Accounting Firm and AVP
Finance with Thomson Reuters. As a part of PWC, he specialized in Aerospace and Defense
matters as well. He handled significantly large assignments including dual-listed mergers, cross
border acquisitions and restructuring, delisting and Asset Reconstruction.

Dr Santrupt Misra Independent Director

Dr Santrupt Misra holds Masters in Political Science from Utkal University and Personnel
Management from Tata Institute of Social Sciences, he also possesses Doctorates in Public
Administration from the Utkal University as well as in Industrial Relations from Aston Business
School, United Kingdom.
He has over 28 years of professional experience in global business, research and organizational
development. He is associated with Aditya Birla Group since 1996. Prior to joining Aditya Birla
Group, he had also worked at the J.K Group, the Tata Institute of Social Sciences and Hindustan
Lever, India.

In 2007, under his leadership as the Director HR, the Aditya Birla Group has developed a strong
employer brand and has acquired laurels as the ‘Best Employer of India’ and a ‘Great Place for
Leaders to Work’.
He holds the following positions in various Companies:-

 CEO, Carbon Black Business and Director, Group Human Resources, Aditya Birla Group.
 Director on the Board of Aditya Birla Management Corporation Private Limited, the apex
decision making body of the US $41 billion Aditya Birla Group.
 Director on the Boards of Aditya Birla Science & Technology Company Limited;
Alexandria Carbon Black Company Limited; Thai Carbon Black Public Company Limited;
Indigold Carbon Mauritius Limited and SKI Carbon India.

He is the National President of the National HRD Network, he is also a Member in Advisory Board
of Association of Executive Search Consultants (AESC) U.S.A. and was appointed as Member of
the SHRM Certification Commission in 2014 for a period three years and is on the Boards of:-

 Xavier’s Institute of Management Bhubaneswar, India.

 Prince Aly Khan Hospital, an Aga Khan Foundation Hospital

Awards:

 Fellow of the National Academy of Human Resources (NAHR), USA,

 The HRD Excellence Award from the National HRD Network (NHRDN)
 The National Institute of Personnel Management (NIPM) Ratna Award
 ‘Ravi J Mathai National Fellow Award’ by Association of Indian Management Schools
 ‘Global Leader of the Year’ at the CEO India Awards 2014.
Smt. Ganga Murthy Independent Director

Ms Ganga Murthy is an M Phil from the Department of Economics in the Madras University. She
joined the Indian Economic Service in 1976 and have over 3 decades of experience in planning,
implementing, monitoring and evaluating schemes and programmes across different sectors of the
economy in the Government of India. During her career also obtained an MSc in National
Development and Project Planning from the University of Bradford, UK.

She began her career in the Planning Commission with planning for the decentralized sector and
ways to address regional imbalances in the country. This was followed by stints of varying time
periods in the Departments / Ministries of Rural Development, Pensions, Economic Affairs,
Chemicals & Petrochemicals, Health and Family Welfare and Consumer Affairs. She
superannuated from the Ministry of Consumer Affairs in August 2013 as Principal Economic
Adviser.

She was in-charge of the Economics Directorate in the Railways as Senior Economic Advisor,
between 2009-11 before moving in as Principal Economic Adviser in Consumer Affairs from
2011-2013.

She also acted as the Secretary for the Public Accounts Committee and the Joint Parliamentary
Committee to probe irregularities in Securities Transactions in 1992 during an interesting stint in
the Lok Sabha during 1991-93.
Board Level Committees

ongcindia.com/wps/wcm/connect/en/about-ongc/board-level-committees/

ist of Committees of the Board of the Company (Reconstituted by Board at its 313th Meeting held
on 14.02.2019)

1. Audit Committee Chairman - Shri K.M. Padmanabhan - ID

(AC): Members- S/ShriSumit Bose - ID, Vivek Mallya - ID, Deepak Sethi - ID, Rajesh
Kakkar - D(Off) and Sanjay Kumar Moitra - D(On)
2. Project Appraisal Chairman - Prof. S. B. Kedare - ID
Review Committee Members - S/ShriAmarnath - GD, Vivek Mallya - ID, Sanjay Kumar Moitra -
(PARC): D(On), Rajesh Kakkar - D(Off) and Smt. Ganga Murthy - ID

3. Stakeholders’ Chairperson- Smt. Ganga Murthy - ID

Relationship Members – S/Shri Subhash Kumar - D(F), Dr. Alka Mittal -D(HR), Sanjay
Committee (SRC): Kumar Moitra - D(On) and A. K. Dwivedi - D(E)

4. Nomination & Chairman - Dr. Santrupt B. Misra - ID

Remuneration Members - S/Shri Shashi Shanker - CMD, Rajiv Bansal - GD, K M
Committee (NRC): Padmanabhan - ID and Smt. Ganga Murthy - ID

5. Health Safety and Chairman – Shri Ajai Malhotra - ID

Environment Members - S/Shri Deepak Sethi-ID, Santrupt B. Misra- ID, - D(T&FS), A. K.
Committee (HSE): Dwivedi -D(E), Subhash Kumar - D(F) and Dr. Alka Mittal - D(HR)
[Reconstituted w.e.f.
29.03.2019]

6. Corporate Social Chairman - Shri Ajai Malhotra - ID

Responsibility Members - S/Shri Santrupt B. Misra- ID, A. K. Dwivedi - D(E), Subhash Kumar
Committee(CSRC): - D(F) and Dr. Alka Mittal - D(HR)
7. Chairman – Shri Sumit Bose - ID
Committee on
Members - S/Shri Shashi Shanker - CMD, Ajai Malhotra -ID, N. C. Pandey
Dispute Resolution
- D(T&FS) and Santrupt B. Misra – ID, A. K. Dwivedi - D(E)
(CODR):

The role of
committee would be
limited to the
claims/disputes with
regard to the
vendors/contractors
of the Company

8. Committee for Chairman – Shri Subhash Kumar - D(F)

Issue of Share Members - S/Shri Rajesh Kakkar - D(Off), Sanjay Kumar Moitra - D(On) and
Certificates Dr. Alka Mittal - D(HR)
(CISC):

9. Research and Chairman – Shri Vivek Mallya - ID

Development Member - S/Shri Sumit Bose- ID, K M Padmanabhan - ID, N. C. Pandey
Committee (R&D): - D(T&FS), Rajesh Kakkar - D(Off), A. K. Dwivedi -D(E)

10. Asha Kiran: Chairman – Shri Subhash Kumar - D(F)

Members - S/Shri Deepak Sethi - ID and S B Kedare - ID and Dr. Alka Mittal
- D(HR)
11. Risk Management Chairman – Shri Deepak Sethi - ID
Committee (RMC): Members – S/ShriS B Kedare- ID, A. K. Dwivedi - D(E), Rajesh Kakkar
- D(Off), Sanjay Kumar Moitra - D(On) and N. C. Pandey - D(T&FS)
Awards and Recognition

ONGC ‘Maharatna of the Year (Non-Manufacturing)’ in Dalal Street’s Roll of Honor

ONGC has been recognized in the Dalal Street Investment Journal’s Roll of Honor list of India’s
Best Public Sector Undertakings 2017 as the ‘Maharatna of the Year (Non-Manufacturing)’.

Coming from one of the country’s leading voices in trade and investment, DSIJ’s
acknowledgement of ONGC’s contribution as a PSU to the cause of nation-building and
supporting the country’s economic growth serves as a shot in the arm for the Company as it gears
to deliver on its larger goal of bolstering domestic energy security through greater indigenous
production of oil and gas, and ensuring higher value for each unit of energy as an integrated energy
major as well. It is also a testament to ONGC’s sustained record of strong operational and financial
performance in strategically important sectors of oil and gas.

DSIJ’s assessment of the awardees is based on the Company’s stature and performance relative to
its peers in the category. The basic parameters used to assess the winning companies are in terms
of Balance sheet size, net sales and profitability. The awards were published in the flagship issue
of DSIJ PSU Award, which, over the years, has served as an exclusive platform to recognize the
efforts and achievements of PSUs in India.

ONGC’s Green Rameswaram project bags accolades at 2nd Innovative Practices Awards

ONGC's Green Rameswaram CSR Project was crowned winner under the ‘Sanitation Category’
at the 2nd Innovative Practices Awards for Sustainable Development Goals at Bengaluru on 8 June
2018. Under the Green Rameswaram Project, ONGC had provided infrastructure for solid waste
management like vehicles for door to door waste collection, developing clean roads, drains,
collecting, segregating & processing recyclable and biodegradable waste in a sustainable manner.

Through Green Rameswaram Project, ONGC enabled collection and recycling of 339 tons of
waste and production of 11.1 tons of compost, which was later distributed free of cost to the
neighbouring farmers creating tremendous goodwill for the Maharatna among the local population.

The Global Compact Network India (GCNI) organized its 2nd Innovative Practices Awards on
"Sustainable Development Goals" (SDGs) to recognise the innovation and excellence in
sustainable practices.
Global Compact Network India (GCNI), a local arm of the United Nations Global Compact, New
York held its 13th edition of its annual flagship event in Bengaluru on 8th June 2018. The overlying
theme for the event focused on 'Sustainable Development Goals (SDGs): A Blueprint for Action'.
The event was well attended by the eminent personalities including CEOs, CXOs and Heads from
Corporates, PSUs, Academia, Civil Society Organizations and UN entities from across the world.

ONGC wins Dun & Bradstreet Award 2018

ONGC has been adjudged the winner in the 'Oil and Gas Exploration' category the Dun &
Bradstreet Corporate Awards 2018. The award was received on May 25, 2018 at Mumbai by
Director (Finance), Subhash Kumar on behalf of the organization from Honorable Minister of State
for Finance, Government of India, Shri Shiv Pratap Shukla.

The event was attended by some of the most recognizable names and faces in the Corporate Sector
space. The awards were given in four segments, Manufacturing, Service, Agriculture and New
Age.

Over the past decade, Dun & Bradstreet India has endeavored to provide top Indian companies a
global platform through its initiative Dun & Bradstreet Corporate Awards. The award recognizes
the exemplary performance in the corporate world and felicitates the top companies across various
sectors.

There were stringent yardsticks and tough competition in all the sectors as the awards were decided
by eminent jurists on various parameters of performance and best–practices across the industry.
The parameters considered for the awardees were total income, net profit, net worth, net profit
margins, growth in total income, growth in net profit, return on net worth and return on assets,
among others. Front-runners in various categories were chosen on the basis of a composite score
of the weighted parameters.

ONGC bags ‘India Pride Awards’

ONGC has won the prestigious Dainik Bhaskar India's Pride Award for ‘Excellence in the
Maharatna Category'.

Hon'ble Chief Minister of Madhya Pradesh Mr Shivraj Singh Chouhan gave away the Award at
New Delhi on 28 March 2018, along with Hon’ble Union Minister of Petroleum & Natural Gas
and Skill Development & Entrepreneurship Mr. Dharmendra Pradhan. ONGC CMD Mr. Shashi
Shanker received the award on behalf of the Energy Maharatna.

The awards evening at Hotel Ashok was marked by the presence of the Who's Who of the country's
public sector universe, both central and state, key corporate players from the private sector and
senior bureaucrats. The Awards serve as an important platform to provide much-deserved
acknowledgement of the remarkable services rendered by the public sector and its invaluable
contributions to creating the foundations of the nation's economy. ‘India Pride Awards’ is a tribute
to honor and recognize the contributions made and excellence achieved in public services,
especially by the Public Sector Undertakings (PSUs).

ONGC - ONGC Moves up 9 Notches in Platts global Ranking

On 25 September 2017, Energy major Oil and Natural Gas Corporation has been ranked 11th and
number one E&P Company in the coveted Platts Top 250 Global Energy Company Rankings 2017.
Russia’s Gazprom end American giant Exxon Mobil’s 12-year still reign at No.1.

Significantly, 10 of the 14 Indian energy companies that made it to the S&P list this year improved
their rankings.

Revenues of the top 10 companies surged more than 30 percent to $1.1 trillion from $830.2 billion
in the 2016 rankings. These companies posted combined profits of $63.7 billion last year, 14 per
cent lower than the $74.3 billion posted the year before. The top 250 profit figures are adjusted for
preferred dividends and exclude discontinued operations and extraordinary operations.

On 25 September 2017, Energy major Oil and Natural Gas Corporation has been ranked 11th and
number one E&P Company in the coveted Platts Top 250 Global Energy Company Rankings 2017.
Russia’s Gazprom end American giant Exxon Mobil’s 12-year still reign at No.1.

Significantly, 10 of the 14 Indian energy companies that made it to the S&P list this year improved
their rankings.

Revenues of the top 10 companies surged more than 30 percent to $1.1 trillion from $830.2 billion
in the 2016 rankings. These companies posted combined profits of $63.7 billion last year, 14 per
cent lower than the $74.3 billion posted the year before. The top 250 profit figures are adjusted for
preferred dividends and exclude discontinued operations and extraordinary operations.
ONGC Other Companies

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

ONGC Videsh Limited, a Miniratna 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. ONGC Videsh owns Participating Interests in 41 oil and gas assets
in 20 countries and produced about 26.2% of oil and 20.7% of oil and natural gas of India’s
domestic production in FY’18. In terms of reserves and production, ONGC Videsh is the second
largest petroleum company of India, next only to its parent ONGC.

Mangalore Refinery and Petrochemicals Ltd (MRPL)

Mangalore Refinery and Petrochemicals Ltd. (MRPL), an ONGC group company, and a ‘Mini
Ratna 1’ is nestled in the lush green glades of Dakshina Kannada District in Mangalore,
strategically located on the West Coast of South India, close to Middle East & Far East crude and
product markets. Originally started as a joint venture company promoted by Hindustan Petroleum
Corporation Ltd. (HPCL) and the Aditya Birla Group (ABG), MRPL got its lifeline once the ABG
shareholding was taken over by Oil and Natural Gas Corporation Ltd. (ONGC) in 2003. The
company turned around and has not looked back since notching benchmarks in the Indian Oil
Industry, on production, turnover, capacity utilization, safety performance, energy consumption,
environment, project implementation and quality management processes.

Hindustan Petroleum Corporation Limited (HPCL)

Standard Refining Company of India Limited was incorporated in 1952, and its name was changed
to ESSO Standard Refining Company of India Limited (ESSO) in 1962. HPCL was formed in
1974 pursuant to the acquisition of shares in ESSO by Government of India and subsequent merger
of ESSO and Lube India Limited. Thereafter, Government of India acquired shares of Caltex Oil
Refining (India) Limited in 1976 and merged it with HPCL in 1978. Kosana’s Company was
merged with HPCL in 1979. HPCL is currently a Central Public Sector Enterprise (CPSE) with
majority shareholding (51.11%) by President of India the equity shares of HPCL are listed on the
Bombay Stock Exchange and the National Stock Exchange.

As the Government of India (GOI) through President of India, being the promoter of ONGC
(holding 67.72%) and HPCL (holding 51.11%) is the seller, the transaction is a related party
transaction between the Government and a government company within the meaning of the SEBI
(Listing Obligations and Disclosure Requirements) Regulation 2015 (LODR) and the Companies
Act 2013 (Act). The SEBI has been pleased to grant an exemption from the application of
Regulation 23 of the LODR to ONGC for this transaction vide its letter dated 30 November 2017.
Requisite approval from the shareholders of ONGC for the related party transaction will be sought
by ONGC after the execution of the share purchase agreement in accordance with provisions of
Section 188(3) of the Act. The acquisition has been made on an arm’s length basis. The transaction
is exempt from the requirement to make an open offer under the provisions of Regulation
10(1)(a)(iii) of the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations 2011. The
Ministry of Corporate Affairs has notified an exemption for CPSEs in the oil and gas sector from
the applicability of provisions of Sections 5 and 6 of the Competition Act 2002 on 22 November
2017, which exemption is applicable to this transaction. The CCEA has provided its in-principle
approval for the transaction on 19 July 2017 and the alternate mechanism set up for the finalizing
the price, terms and conditions of the transaction has accorded its final approval on 20th January
2018. No other regulatory approvals are required for the transaction.

ONGC Board on 19th January, 2018 considered the proposal and approved acquisition of the entire
51.11% shareholding (778,845,375 equity shares) of the President of India, at a cash purchase
consideration of INR 473.97 per share with a total acquisition cost of Rs. 36,915 Crore.

Petronet MHB Ltd (PMHBL)

Petronet MHB Ltd. (PMHBL) is a joint venture of ONGC and HPCL with equity shareholding of
32.72% each and balance 34.56% of equity is being held by banks. PMHBL became the subsidiary
of the Company, post HPCL acquisition.

PMHBL owns and operates a multiproduct petroleum pipeline to transport MRPL Refinery’s
products to various parts of Karnataka.
During 2017-18, PMHBL has achieved highest ever throughput of 3.5 MMT as compared to 3.43
MMT during previous year. PMHBL has registered highest ever total revenue of Rs 171.13 crore
as compared to Rs 170.20 crore in the previous year and recorded the highest ever net profit of Rs
83.46 crore as compared to Rs 80.95 crore achieved in 2016-17. PMHBL has paid its maiden
interim dividend of 9% to the shareholders for the year 2017-18.

To expand the pipeline network further, PMHBL has submitted the Expression of Interest to
PNGRB for laying a petroleum product pipeline from Hassan to Chitradurga (from existing Hassan
Pumping station) in Karnataka state.
Joint Ventures

ONGC Tripura Power Company Limited (OTPC)

OTPC, a joint venture company of ONGC, IL&FS Energy Development Co. Ltd. and Govt. of
Tripura, is setting up a 726.6 MW capacity combined cycle gas turbine based Mega Power Project
in the state of Tripura with the objective of monetization of gas, which had been lying idle for want
of adequate market in the region. The first unit of 363.3 MW capacity is set to commence
commercial operations in January 2013.

OTPC, a Joint Venture company of ONGC The project, combined with ONGC’s upstream gas
supply development project and associated 400 kV 650 km long Double Circuit transmission line
from the project site in Palatana to Bongaigaon being implemented by a JV company of OTPC to
evacuate the power generated from the project, constitutes the single largest investment in the
entire NE region.

ONGC Petro-additions Limited (OPaL)

ONGC Petro additions Limited (OPaL), a private joint venture company was incorporated in year
2006, by Oil and Natural Gas Corporation (ONGC) and Gujarat State Petroleum Corporation
(GSPC), with 26 per cent and 5 per cent stakes respectively. Later, Gas Authority of India Limited
(GAIL) also acquired a 19 per cent stake in OPaL OPaL aims to provide world-class products and
services across the globe by effective use of technology, while being sensitive towards the
environment at all times.

It is setting up a grass root Mega Petrochemical project in the PCPIR / SEZ zone at Port City of
Dahej, Gujarat, India. The complex will have a 1.1 Million tons Dual Feed cracker. It will mainly
produce HDPE (Swing and Dedicated lines), LLDPE, PP, Benzene, Butadiene, CBFS and Pygas.
Likely date of commissioning is first quarter of 2014.

ONGC Petro-additions Plant C2-C3 Project of ONGC This project is being implemented by
ONGC Petro Additions Ltd. (OPaL). Since, ONGC has been given the rights to extract the rich
C2+ components from the first 5 MMTPA rich LNG supplied by M/s Ras Gas, Qatar to M/s
Petronet LNG Ltd, it ONGC has set up a first of its kind C2 + extraction plant in the SEZ region
of Dahej, Gujarat. Based on the C2 + streams from the extraction plant and the Naphtha produced
from ONGC’s Uran and Hazria plants, ONGC has conceptualized a mega petrochemical project
of 1.1 MMTPA dual feed cracker which shall be producing 1100 KTPA of ethylene and 360 KTPA
propylene which shall be processed in the downstream units to produce various grades of polymers
like HdPE, LLdPE, PP, Butene-1 etc.

Mangalore Special Economic Zone Limited (MSEZ)

Mangalore SEZ, a Special Purpose Vehicle, was incorporated on 24th February, 2006 with
participation of ONGC, Infrastructure Leasing & Finance Corporation (IL&FS), Karnataka
Chamber of Commerce and Industries (KCCI) and Karnataka Industrial Area Development Board
(KIADB). Present Equity Structure of MSEZ is ONGC- 26%, IL&FS- 50%, KIADB-23%, OMPL-
0.96% and KCCI- 0.04%. MSEZ is envisaged to be developed in two phases.

MSEZ MSEZ Phase I, notified as a sector specific Petrochemical SEZ, is being developed over an
area of 1638 acres. Major Companies who are setting up their units in MSEZ Phase I are ONGC
Mangalore Petrochemicals Ltd(OMPL), ISPRL, JBF Petrochemicals Ltd and Cardolite Specialties
Chemicals Ltd.

ONGC Mangalore Petrochemicals Limited (OMPL)

ONGC Mangalore Petrochemicals Ltd. (OMPL), a company promoted by Oil and Natural Gas
Corporation Limited (ONGC) is setting up an aromatic complex along with Mangalore Refineries
& Petrochemical Limited (MRPL) at Mangalore in Mangalore Special Economic Zone (MSEZ)
adjacent to the existing MRPL refinery. OMPL’s equity share constitutes ONGC and MRPL
holding 49% however, the balance 51% equity will be offered to Strategic / financial investors and
retail investors. OMPL was incorporated on 19th Dec. 2006 and its Registered Office is at
Mangalore Special Economic Zone, Permude, Mangalore, India.

The Plant will produce about 913.70 KTPA of Paraxylene and about 283.10 KTPA of Benzene.
This complex will get its feedstock, mainly naphtha and aromatic streams from the MRPL refinery,
for which it shall enter into a feedstock sourcing arrangement with MRPL for continuous supply
of naphtha and other streams. The required land of 442 acres was acquired by the company from
MSEZL on long term lease basis. The project is expected to commence commercial operations in
Q1 of FY 2013-14.

OMPLThe Project is being located inside a Special Economic Zone (SEZ) and is being developed
by Mangalore SEZ Ltd. (MSEZL). The Project Site is adjacent to the MRPL refinery, from where
the entire feedstock will be supplied to the aromatics complex through pipelines. The site is also
well connected to national and state highways. It is 2 km away from the New Mangalore Port and
about 15 kms from Mangalore International Airport.

Dahej SEZ Limited (DSL)

Dahej SEZ, a joint venture between Gujarat Industrial Development Corporation (GIDC) and
ONGC, was incorporated on 24th Sept 2004. The envisaged equity structure of DSL is ONGC-
23%, GIDC-26% and rest to be tied up with Strategic investors whereas percentage of equity of
ONGC and GIDC on the current paid-up equity is 49.99% each. DSL is a multi product SEZ being
set up over an area of 1732 hectares and ONGC promoted OPaL is one of the anchor tenants of
DSL. ONGC’s C2-C3 plant has also been set up in SEZ which will be providing the feedstock for
OPaL.

Dahej SEZ Limited (DSL) Other major industries are DIC Fine Chemicals, Pidilite industries,
Torrent Pharmaceuticals, Rallis India Ltd, Godrej & Boyce etc. Dahej SEZ is strategically located
in the Western Coast with excellent connectivity to National Highways, State Highways, Broad
Gauge Railways, State-of-the-art Ports in the vicinity and along the proposed Delhi-Mumbai
Industrial Corridor (DMIC). SEZ has become operational since 2009-10 with export of products
by SEZ Units which has increased from Rs 83.59 crore in FY 09-10 to Rs 836.79 crore in 2011-
12.