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PRESENTATION ON SUMMER INTERNSHIP/ TRAINING IN ONGC Ltd. Oil & Natural Gas Corporation Limited (ONGC) is the premier company in the Indian upstream of Petroleum Sector. Born in 1956. ONGC was public in 1994.
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Oil & Natural Gas Corporation Limited (ONGC) is the premier company in the Indian upstream of Petroleum Sector. • Born in 1956. ONGC was public in 1994. • Its produces 77 percent of India’s domestic petroleum and 81 percent of its natural gas.
Company Details Vision Statement • To be a world class Oil and Gas Company integrated in energy business with dominant Indian leadership and Global Presence.
Mission Statement 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 Health, Safety and Environment to enrich quality of community life.
Integrated in Energy Business • Focus on domestic and international Oil & Gas exploration and production business opportunities. • Provide value linkages in other sectors of energy business. • Create growth opportunities and maximize shareholders value.
Dominate Indian Leadership • Retain dominant position in Indian Petroleum sector and enhance India’s energy availability.
History • During pre- independence period the Assam Oil Company and Attock Oil company was the only oil company in India. • After independence, the national Government realized the importance oil and gas for rapid industrial development. • Assam Oil Company was producing oil at Digboi (discovered in 1889)
Oil India Ltd is a 50% joint venture between Government of India and Burma Oil Company. • In West Bengal, the Indo-Stanvac Petroleum project is a joint venture between Government of India and Standard Vacuum Oil Company of USA. • In 1955, Oil and Natural Gas Directorate was set up which was later converted to Oil and Natural Gas Commission in 1956 August..
Oil and Natural Gas Commission was later change to Oil and Natural Gas Corporation in 1994. • In 1958, ONGC found a oil-well in Cambay now Khambhat which was a first well owned by Government of India only. • ONGC went offshore in early 70's and discovered a giant oil field in the form of Bombay High, now known as Mumbai High.
Global Ranking • ONGC ranks 3rd Oil & Gas Exploration & Production (E&P) Company in the world and 23rd among leading global energy majors as per Platts 250 Global Energy Companies List for the year 2009• ONGC ranks 24th among the Global publicly-listed Energy companies as per ‘PFC Energy 50” (Jan 2008)
Finance Asia 100 list ranks ONGC no 1 among Indian Blue Chips. • Occupies 155th rank in “Forbes Global 2000” list 2010 of the world’s biggest companies for 2010 based on sales, profits, assets and market capitalization. • ONGC ranked 402nd position as per Fortune Global 500 - 2009 list;, based on revenues, profits, assets and shareholder’s equity.
ONGC PRODUCT DETAILS • ONGC Ltd. has following product profile • Crude Oil • Petroleum • Gas oil • Jet/kero • LPG • MS/ Naphtha • Petrochemical • Mixed Xylene • Para Xylene • Propylene • Benzene
ONGC Ltd. Cambay production of Crude Oil, Natural Gas and Crude Oil processing & Transportation. Their customer are: • IOCL (Crude Oil) • GAIL (Natural Gas) • GSPC/NIKO (Processing of Crude Oil) • HERAMEC Ltd. (Processing of Crude Oil)
Broad Function • Stacking of released locations and Handling over a Drilling & Oil Mining • Land acquisition • Preparation of approach roads and drill sites • Preparation of GTO (Geological Technical Order) and other related technical data. • Collection of subsurface geological data during drilling
Monitoring of day to day drilling operations for healthy/timely well completion. • Planning, provisioning and inventory control of casing, well heads, floating equipments, centralizers etc. • Co-ordination with other services such as Logging, WSS (well stimulation service), Cementing, Logistic.
Planning and monitoring production testing. • Planning and execution of work over jobs • Documentation of the data for each well • Budget preparation • Well completion reports • Cost reduction planning • Other miscellaneous jobs related to DRILLING.
Corporate Social Responsibility OF ONGC • CSRis about how companies manage the business processes to produce an overall positive impact on society.
There are four aspects of CSR 1) Work Place: • Providing a safe and healthy work environment • Adopting fair labor polices 2) Environment: • Protecting the environment 3) Market Place: • Being truthful in advertising • Avoiding price discrimination 4) Social Welfare: • Donating to charity
Activities CORPORATE LEVEL: • ONGC’ s CSR programs at the corporate level focused on disaster relief management and water management projects. • When a heavy cyclone hit the eastern state of Orissa in 1999,ONGC provided immediate relief like food , drinking -water, medicine, clothing etc.
SOCIETY: • ONGC was involved various community development programs in India. • In 1983 ONGC formulated its Environment Policy for protecting Environment. • For improving the safety, health, and environment standard ONGC set up the Institute of Petroleum Safety, Health and Environment management in 1989.
ONGC contributed to several socio-economic developmental programs like building schools and hospitals, developing agriculture and cottage industry, building infrastructure facilities.
ISSUES/ PROBLEMS AREA: • In 1994, the Nagaland government asked the Oil and Natural Gas Corporation (ongc) to shut shop in the state. Because the state government claims to have resolved old issues but local people and militant groups dispute that. They have also raised the issue of pollution from oil wells.
ONGC Company has been facing hurdles in its efforts to invite global bids for high tech drilling operations as the local industry has been obstructing the induction of foreign technology. • The jack-up drilling rig Transocean Nordic, which was slated to be re-deployed from Bengal offshore to the Mahanadi basin, got one of its legs stuck under the sea bed. The loss is estimated at $74,000 per day only on the hiring charges of the rig alone.
Compare With Other Oil Exploration Company • Current Ratio
Quick Ratio *RIL including Reliance Fresh, # Crain India was public in 2007. There is a lack of information
Finding • The company having comfortable working capital position. • The absolute liquidity of the ONGC Limited is in favors. • The collection policy of the company is very good. • Inventory turnover ratio is high in 2007-08 as compare to the previous year but in current year which is little bit lower than previous year but ONGC Limited had good Inventory Turnover Ratio in comparison with other industries
BIBLIOGRAPHY • www.ongcreports.com • www.ongcindia.com • www.moneycontrol.com • Annual Reports