ONGC Group owns several global oil and gas assets, including Sakhalin-1 and Imperial Energy in Russia, ACG in Azerbaijan, GNOP in South Sudan, BC-10 in Brazil, Rovuma in Mozambique, Block 06.1 in Vietnam, Carabobo-1 in Venezuela, and Myanmar’s Blocks A-1 and A-3.
Content:
- Who Are ONGC Group And What Do They Do?
- ONGC Group’ Global Reach: Companies It Owns
- 1. Sakhalin-1 Project (Russia)
- 2. Imperial Energy Corporation (Russia)
- 3. Azeri-Chirag-Gunashli (ACG) Oil Field (Azerbaijan)
- 4. Greater Nile Oil Project (South Sudan)
- 5. BC-10 (Parque das Conchas) Project (Brazil)
- 6. Rovuma Area 1 Offshore Block (Mozambique)
- 7. Block 06.1 (Vietnam)
- 8. Carabobo-1 Project (Venezuela)
- 9. Block A-1 and A-3 (Myanmar)
- ONGC Group International Business – Foreign Companies Owned By ONGC
- Sakhalin-1 Project (Russia)
- Imperial Energy Corporation (Russia)
- Azeri-Chirag-Gunashli (ACG) Oil Field (Azerbaijan)
- Greater Nile Oil Project (South Sudan)
- BC-10 (Parque das Conchas) Project (Brazil)
- Rovuma Area 1 Offshore Block (Mozambique)
- Block 06.1 (Vietnam)
- Carabobo-1 Project (Venezuela)
- Block A-1 and A-3 (Myanmar)
- Timeline of ONGC Group’s Major Foreign Acquisitions
- Who Owns ONGC Group? Family & Business Background
- How to Invest in ONGC Group?
- What Are The Foreign Companies Owned By ONGC Group? – Quick Summary
- ONGC Group’s International Operations – FAQs
Who Are ONGC Group And What Do They Do?
Oil and Natural Gas Corporation (ONGC) is India’s largest government-owned energy company, founded in 1956. It is involved in the exploration, production, refining, and distribution of crude oil and natural gas across India and several international locations.
ONGC operates through subsidiaries like ONGC Videsh, MRPL, and HPCL. The group plays a key role in ensuring India’s energy security by managing domestic reserves and acquiring overseas assets. Its global partnerships and energy investments contribute significantly to India’s fuel and petrochemical infrastructure.
ONGC Group’ Global Reach: Companies It Owns
1. Sakhalin-1 Project (Russia)
- Acquisition Year: 2001
- Investment: ₹15,000 crore
- About: Offshore oil and gas project in the Russian Far East
- Strategic Benefit: First major overseas upstream acquisition
- Presence: Russia
- Market Share: Key supplier to ONGC’s international oil portfolio
2. Imperial Energy Corporation (Russia)
- Acquisition Year: 2009
- Investment: ₹9800 crore
- About: Onshore exploration and production in Western Siberia
- Strategic Benefit: Added large reserves to ONGC Videsh
- Presence: Russia
- Market Share: Strong regional upstream presence
3. Azeri-Chirag-Gunashli (ACG) Oil Field (Azerbaijan)
- Acquisition Year: 2013
- Investment: ₹7300 crore
- About: Major offshore oil development in Caspian Sea
- Strategic Benefit: High production and steady returns
- Presence: Azerbaijan
- Market Share: Key offshore contributor in Caspian
4. Greater Nile Oil Project (South Sudan)
- Acquisition Year: 2003
- Investment: ₹4700 crore
- About: Oil producing field in conflict-prone zones
- Strategic Benefit: Diversified risk, high potential field
- Presence: South Sudan
- Market Share: Limited but strategic African presence
5. BC-10 (Parque das Conchas) Project (Brazil)
- Acquisition Year: 2008
- Investment: ₹5200 crore
- About: Deepwater oil field off Brazil’s coast
- Strategic Benefit: Entry into Latin American offshore assets
- Presence: Brazil
- Market Share: Small share in Brazil’s deepwater output
6. Rovuma Area 1 Offshore Block (Mozambique)
- Acquisition Year: 2013
- Investment: ₹8600 crore
- About: LNG-focused offshore gas block
- Strategic Benefit: Boosts ONGC’s LNG and gas portfolio
- Presence: Mozambique
- Market Share: Growing in the global LNG space
7. Block 06.1 (Vietnam)
- Acquisition Year: 1988
- Investment: ₹3600 crore
- About: Gas field in South China Sea
- Strategic Benefit: First successful overseas gas project
- Presence: Vietnam
- Market Share: Major gas supplier in the region
8. Carabobo-1 Project (Venezuela)
- Acquisition Year: 2010
- Investment: ₹4200 crore
- About: Heavy oil project in Orinoco Belt
- Strategic Benefit: Access to massive oil reserves
- Presence: Venezuela
- Market Share: High reserves, low realization
9. Block A-1 and A-3 (Myanmar)
- Acquisition Year: 2002
- Investment: ₹3100 crore
- About: Offshore gas blocks in Bay of Bengal
- Strategic Benefit: Supplies pipeline gas to India
- Presence: Myanmar
- Market Share: Significant for regional energy security
The chart shows ONGC Group’s Global Energy Projects – Investment Overview.
ONGC Group International Business – Foreign Companies Owned By ONGC
ONGC Group, through its subsidiary ONGC Videsh, owns strategic oil and gas assets across Russia, Azerbaijan, Brazil, Mozambique, Vietnam, Venezuela, Myanmar, and South Sudan. These include Sakhalin-1, Imperial Energy, ACG oil fields, BC-10, and Rovuma gas blocks, among others.
These global assets help ONGC secure India’s energy needs while generating long-term revenues. Each acquisition adds geographical diversification, upstream production, and gas reserves, positioning ONGC as a global energy player with strong influence in both conventional and deepwater hydrocarbon exploration.
Sakhalin-1 Project (Russia)
Sakhalin-1 is ONGC’s first major international asset, acquired in 2001. Located in Russia’s Far East, it is an offshore oil and gas project. This investment provides significant crude output and long-term supply stability, though operations have faced geopolitical and operational challenges in recent years.
Imperial Energy Corporation (Russia)
Acquired in 2009, Imperial Energy operates onshore oil fields in Western Siberia. It gave ONGC access to large proven reserves. Despite early promise, the project has faced production issues and profitability concerns but remains a long-term investment in Russia’s energy-rich region.
Azeri-Chirag-Gunashli (ACG) Oil Field (Azerbaijan)
ONGC acquired a stake in the high-output ACG offshore oil field in 2013. Located in the Caspian Sea, this asset ensures consistent revenue and enhances ONGC’s deepwater portfolio. It is among the most commercially successful international projects for ONGC Videsh.
Greater Nile Oil Project (South Sudan)
ONGC invested in the Greater Nile Project in 2003. Located in politically unstable South Sudan, it includes several onshore oil fields. Despite operational hurdles due to conflict, the project is important for ONGC’s African energy presence and long-term crude sourcing diversification.
BC-10 (Parque das Conchas) Project (Brazil)
The BC-10 deepwater project in Brazil was acquired in 2008. It marked ONGC’s entry into the Western Hemisphere’s offshore oil sector. The asset offers deep-sea exploration experience and contributes to ONGC’s long-term production strategy from stable oil-producing regions.
Rovuma Area 1 Offshore Block (Mozambique)
Rovuma Area 1 is a key LNG-focused asset acquired in 2013. It holds large gas reserves and strengthens ONGC’s presence in the global gas market. This project supports future LNG supply and positions ONGC strategically in energy transition initiatives worldwide.
Block 06.1 (Vietnam)
Block 06.1, acquired in 1988, is ONGC’s oldest overseas producing asset. It is a gas-producing field in the South China Sea. The block plays a strategic role in ONGC’s Southeast Asia operations and supplies pipeline gas to Vietnam’s domestic market.
Carabobo-1 Project (Venezuela)
Acquired in 2010, Carabobo-1 is a heavy oil field in Venezuela’s Orinoco Belt. Despite large reserves, operations have been affected by U.S. sanctions and economic instability. It remains a long-term bet on high-volume output in a recovering geopolitical climate.
Block A-1 and A-3 (Myanmar)
ONGC holds stakes in offshore gas blocks A-1 and A-3 in Myanmar, acquired in 2002. These fields supply gas to India through an undersea pipeline. Despite political issues, they are crucial for regional energy security and cross-border cooperation in energy trade.
Timeline of ONGC Group’s Major Foreign Acquisitions
The chart shows the Timeline of ONGC Group’s Major Foreign Acquisitions
Who Owns ONGC Group? Family & Business Background
ONGC (Oil and Natural Gas Corporation) is a government-owned enterprise founded in 1956 by the Government of India. It operates under the Ministry of Petroleum and Natural Gas and is classified as a Maharatna company, reflecting its strategic and economic importance.
There is no individual family ownership in ONGC. It is a public sector undertaking with majority ownership held by the Indian government. Its global ventures are managed through ONGC Videsh Limited, focusing on upstream oil and gas exploration and acquisitions across Asia, Africa, and Latin America.
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What Are The Foreign Companies Owned By ONGC Group? – Quick Summary
- ONGC Group holds key global oil and gas assets, including Sakhalin-1, Imperial Energy, ACG, GNOP, BC-10, Rovuma, Block 06.1, Carabobo-1, and Myanmar’s Blocks A-1 and A-3, strengthening its international energy presence.
- Founded in 1956, ONGC is India’s largest government-owned energy company. It handles exploration, production, refining, and distribution of oil and gas both domestically and globally, contributing significantly to India’s energy security and infrastructure.
- ONGC Videsh, ONGC’s overseas arm, owns strategic energy assets across countries like Russia, Azerbaijan, Brazil, and Vietnam, enhancing India’s global energy reach through projects like Sakhalin-1, ACG, Rovuma, and Greater Nile Oil Project.
- Sakhalin-1, acquired in 2001, is ONGC’s first major overseas asset. Located offshore in Russia, it provides long-term crude supply but has faced geopolitical and operational challenges, especially in recent years.
- Imperial Energy, bought in 2009, operates onshore in Western Siberia. Though it provided ONGC access to large reserves, the project has struggled with production and profitability, but remains a long-term strategic asset in Russia.
- ONGC acquired a stake in Azerbaijan’s ACG oil field in 2013. Located in the Caspian Sea, it ensures strong revenues and boosts ONGC’s deepwater portfolio as one of its most commercially successful international assets.
- ONGC invested in South Sudan’s Greater Nile Project in 2003. Despite civil unrest and operational disruptions, the onshore project remains important for ONGC’s presence in Africa and crude sourcing diversification.
- BC-10, acquired in 2008, is ONGC’s deepwater project in Brazil. It marked the company’s entry into the Western Hemisphere’s offshore sector, enhancing deep-sea exploration capabilities and long-term oil production strategy.
- Rovuma Area 1 in Mozambique, acquired in 2013, is a gas-rich LNG project. It boosts ONGC’s global gas presence and supports future LNG supply, aligning with global energy transition and diversification goals.
- Block 06.1 in Vietnam, ONGC’s oldest overseas asset since 1988, is a gas-producing field in the South China Sea. It ensures pipeline gas supply to Vietnam, playing a key role in Southeast Asia operations.
- Carabobo-1, acquired in 2010, is a heavy oil field in Venezuela. Despite large reserves, operations are constrained by sanctions and economic issues. It remains a long-term investment in the geopolitically sensitive Orinoco Belt.
- ONGC’s Myanmar Blocks A-1 and A-3, acquired in 2002, supply gas to India via an undersea pipeline. Despite political instability, these fields are vital for regional energy security and Indo-Myanmar energy collaboration.
- ONGC, established in 1956, is a Maharatna public sector enterprise under the Ministry of Petroleum and Natural Gas. It is India’s premier government-owned energy firm, reflecting its economic and strategic national importance.
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ONGC Group’s International Operations – FAQs
ONGC Group’s first foreign asset was Block 06.1 in Vietnam, acquired in 1988. It marked the company’s initial step in overseas exploration and production, establishing a long-term presence in Southeast Asia and supporting India’s early efforts toward energy security through global assets.
ONGC invested approximately ₹15,000 crore in the Sakhalin-1 Project in Russia through ONGC Videsh. The stake provided ONGC access to significant crude oil and gas reserves and represented India’s largest foreign energy investment at the time, boosting its global upstream presence.
ONGC Group, via ONGC Videsh, currently operates in over 30 oil and gas projects spread across more than 15 countries. These include producing, exploratory, and pipeline assets in Asia, Africa, South America, and the CIS region, making ONGC India’s leading global energy explorer.
The ACG Oil Field produces around 400,000 barrels of oil per day. ONGC’s stake contributes a proportionate share to its global production portfolio, making it one of the group’s highest-yielding international assets with steady financial returns and strong production consistency.
ONGC is owned and controlled by the Government of India. It operates as a public sector enterprise under the Ministry of Petroleum and Natural Gas. There is no family or private ownership, and its operations are managed by appointed government and corporate professionals.
ONGC generates approximately ₹10,000 to ₹15,000 crore annually from its international operations. Revenues come from producing assets like Sakhalin-1, ACG, and Mozambique’s Rovuma Block. These assets support ONGC’s profitability and ensure a diversified energy income beyond domestic oil and gas production.
ONGC acquired Imperial Energy Corporation in 2009 for about ₹9800 crore through ONGC Videsh. It was an all-cash deal involving a takeover of the UK-listed company with producing and exploratory blocks in Russia, marking a major upstream expansion into Western Siberia.
ONGC invested approximately ₹8600 crore in Mozambique’s Rovuma Area 1 block. This LNG-focused asset holds massive gas reserves and is central to ONGC’s global natural gas portfolio. It plays a key role in India’s future LNG imports and clean energy strategies.
Apart from Sakhalin-1 and Rovuma, ONGC holds stakes in Imperial Energy (Russia), ACG (Azerbaijan), BC-10 (Brazil), Carabobo-1 (Venezuela), Blocks A-1 and A-3 (Myanmar), Block 06.1 (Vietnam), and GNOP (South Sudan). These assets span oil, gas, LNG, and deepwater exploration globally.
ONGC Group has elevated India’s global energy footprint by securing equity oil and gas abroad. Through ONGC Videsh, it ensures energy security for India, partners in multinational exploration, and contributes to stabilizing supplies, particularly in LNG and conventional oil-producing regions worldwide.
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