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Corporation Limited
07 July 2017
ONGC is the flagship
National Oil Company of India, a
Maharatna, with interests in
E&P, Refining, LNG, Power,
Petrochemicals & New sources of
energy.
2
ONGC - Evolution
In 1955, GoI decided to
1955 Oil and Gas Division, GSI*
develop Oil and Natural Gas
resources in various regions 1955 Oil and Gas Directorate, GoI
of the country as a part of 1956 Oil & Natural Gas Commission
Public Sector Development.
1959 Autonomous Statutory Body
*Oil & Natural Gas division set-up in Oct1955 under Geological Survey of India to explore & develop hydrocarbon resources. 3
Promoted
Petronet LNG Exploring for CBM,
Refine > Ltd. UCG, Shale gas &
325,000 bpd 12.5% equity Alternates
of O+OEG
Petrochemicals,
Power,
Produce* ~
1.27 mbpd of Extract ~ 3.2
O+OEG MMTPA of
VAP
* Domestic
4 & Overseas Assets
Seismic data Acquisition, Processing
& Interpretation (API)
Well drilling & Work-over operations
Transportation, etc.
5
Processing Infrastructure
Hazira, Gujarat
Handling Capacity: 42 MMSCMD Sour Gas
Products: LPG, Naphtha, SKO, ATF, Propane
Uran, Maharashtra
Work-over Rigs
54+22*
G&G
KDMIPE Basin Modeling
Management
Development
ONGCA
Seismic Data
GEOPIC Processing
Technology hub
Well Logging Dehradun
CEWELL Drilling
Vadodara IDT Technology
Jorhat
Oil field Ahmedabad
equipment SMP Panvel Geo-microbial
maintenance INBIGS prospecting
Goa
Reservoir Geotechnical &
Management IRS IEOT Structural Enng.
9
ONGC Group
E&P
domestic
operations
(71.62%) (49.36%)
Services
(12.5%)
10
Shareholding Pattern*
FII NRI NBFC
0.23% 0.06% 0.00%
FPI
5.73%
IOCL
Govt. 7.69%
68.07% GAIL
2.40%
Banks
0.06%
FIs/Insurance
UTI companies
0.07% 10.21%
Bodies Corporate
Mutual Funds
1.41%
1.77%
Public Employees
2.25% 0.05%
* As on 30.06.2017 11
Trading data on BSE
Vacant
As per the SEBI Listing Regulations 2015 read with Companies Act 2013, ONGC shall require two more Independent Directors (including
one woman Director).
13
Corporate Governance in ONGC
14
Corporate Governance in ONGC
Constitution of 15 Board Level Committees to discuss threadbare
most of the agenda items before being recommended to the
Board for an informed decision
15
Corporate Governance in ONGC
Robust Internal Control Mechanism to monitor critical
businesses, functions and operations
16
Corporate Governance in ONGC
17
Corporate Governance in ONGC
18
Corporate Governance in ONGC
19
ONGC: Domestic Production
Physical Performance
FY'13 FY'14 FY'15 FY'16 FY'17 FY'13 FY'14 FY'15 FY'16 FY'17
ONGC (Oil) PSC-JV (Oil) ONGC (Gas) PSC-JV (Gas)
20
ONGC: Financials
21
Efficiency Parameters
RRR* (2P)
2
Commercial Speed 1.47 1.51 1.45
1.5 1.38
(meterage/rig-month) 1.25 1.24
1
1,600
0.5
1,400
0
Meterage/ Rig-month
22
60 Years of Exploration
ONGC discovered
6 out of the 7 producing Basins of India
1973: A&AA FB
1958: Cambay Basin
1980: KG Basin
1974: Mumbai
Offshore
1985: Cauvery
Basin
23
Exploration Successes
Kutch Basin
3 B-157N-1 / B-157N-A Oil & Gas Onshore
4 GS-71-1/ GS-71-AA Oil & Gas 3 Dahej/ Dahej-20 / DJAT Gas
24
ONGC: Oil & Gas sales
15 4.9%
4.2%
10 40 14 3.5%
13 2.8%
5 20 2.1%
12
1.4%
11 Gas flaring 0.7%
0 0 10 0.0%
FY'12 FY'13 FY'14 FY'15 FY'16 FY'17 FY'13 FY'14 FY'15 FY'16 FY'17
Oil Sales % Sales Gas sales (BCM) Gas flaing (%)
Increase in sale on account of improved Gas flaring reduced in FY17 to 2.4% vs 3.06% in
processing, control and reduction of losses FY16
25
O+OEG Production
ONGC is the largest Crude Oil & Natural Gas producer in India;
contributed 72% of O+OEG production of the country in FY17*.
FY17*: Crude oil production in India FY17*: Natural gas production in India
= 36.02 MMT (FY16: 36.95 MMT) = 31.90 BCM (FY16: 32.25 BCM)
Private Private
Operators Operators
20% 18%
OIL
OIL
9%
9%
ONGC
ONGC
71%
73%
61.60
58.73 59.20 58.34 57.38
4.37
2.92 2.87 3.34 1.18
1.79 1.57 1.50 3.41
1.35
22.09
23.55 23.28 22.03 21.18
27
ONGC Group: Financials, FY17
12,875
28
ONGC Videsh Ltd.
29
29
ONGC Videsh: Global footprint
37 projects in 17 Discovered/
Producing: 14 Exploration: 17 Pipeline: 2
countries Develop: 4
CIS
Azerbaijan 1
Russia 3
Myanmar 2 2
Bangladesh 2
Asia-Pacific
Middle East N. Zealand
1
Syria 1 1
Africa
Latin America
Libya 1 Iraq 1
Venezuela 1 1
Sudan 1 Iran 1
Colombia 7 1
South Sudan 2
Brazil 1 1
Mozambique 1
30
ONGC Videsh: Overseas Production
4.37 Azerbaijan
8.87 8.92 Vietnam 7%
8.36 12%
7.26 Myanmar
2.87 3.34 3.41 7%
2.92
8.43
4.34 5.49 5.53 5.51 Brazil
5%
Russia
56% Colombia
4%
FY'13 FY'14 FY'15 FY'16 FY'17 Venezuela
31
ONGC Videsh: Financials
22,224
19,149
18,029
10,080
9,862
3,929 4,445
1,904 701
32
Mangalore Refinery Petrochemicals Ltd. (MRPL)
33
MRPL: Financials*
-757
-1,712
FY'13 FY'14 FY'15 FY'16 FY'17 FY'13 FY'14 FY'15 FY'16 FY'17
During FY17 GRM 7.75 $/bbl; one of the best among PSU refineries
34
ONGC Mangalore Petrochemicals Ltd. (OMPL)
Aromatic Petrochemical Complex producing Paraxylene & Benzene;
production commenced from 1st October 2014
Feedstock@ Products
Achieved highest revenue of ` 5,256
Crore with highest exports of ` 3,900
Naphtha & Para-xylene: 914,000 Crore in FY17 establishing a niche
TPA
Aromatic
Benzene: 283,000
presence in the International market
streams
TPA
35
OMPL: Financial
6000
5,257
5000
4,188
4000
3000
Rs. Crore
2000
1000
0
FY'16 FY'17
-1000 -493
-879
-2000
Turnover PBT
36
ONGC Petro Additions Ltd. (OPaL)
Successfully raised Rs 7,286 Crore through
Compulsorily Convertible Debenture at
competitive interest rates.
With this the entire equity of Rs 11,230 Crore
has been tied.
37
ONGC Tripura Power Company Ltd. (OTPC)
726.6 MW (363.3x2) Combined Cycle Gas Turbine (CCGT) thermal power plant
Financials FY17
Turnover ` 1,298 Crore up 18% from ` 1,099 Crore during
FY16
Net Profit ` 130.45 Crore, a 9 fold jump from ` 12.96 Crore
in FY16.
IEDCL: IL&FS Energy Development Company Limited
IDFC: India Infrastructure Fund-II through IDFC Alternatives Ltds
38
38
Evolution of Upstream industry in India
HELP
NELP era
254 blocks
Pre-NELP era
28 Blocks, 29 Fields
Nomination era
355 ML, 24 PEL
Pre Independence PSC Regime
era
1886 - 1946 1947 - 1990 1990 - 1996 1997 2015 2016 - onwards
39
HELP - 2016
Hydrocarbon Exploration & Licensing Policy (HELP)
announced in 2016 will simplify the policy
The uniform licence will enable the contractor to explore conventional as well as
unconventional oil and gas resources including CBM, shale gas/oil, tight gas and
gas hydrates under a single license. The concept of Open Acreage Policy will
enable E&P companies choose the blocks from the designated area.
40
Domestic Gas & Midstream Milestones
41
Gas price revision
42
Gas price revision
However, within a period of less than two years, the domestic natural gas
price is expected to drop to less than half from US$ 5.05 to US$ 2.45 per
mmbtu.
Even existing price of US$ 3.06/ mmbtu on GCV basis (equivalent to US$
3.40/mmbtu on NCV basis) is lower by 20% even from price of APM gas
fixed on NCV basis (i.e. US$ 4.2/mmbtu) and lower by 20%-35% from price
of non-APM gas (US$ 4.2/mmbtu to US$ 5.25/mmbtu) which was applicable
till Oct14.
Applicable Equivalent
Domestic Gas Domestic Gas
Period %age change
Price price
GCV basis NCV basis
01.11.14 to 31.03.15 5.05 5.61
01.04.15 to 30.09.15 4.66 5.18 -7.66%
01.10.15 to 31.03.16 3.82 4.24 -18.15%
01.04.16 to 30.09.16 3.06 3.40 -19.81%
01.07.16 to 31.03.17 2.50 2.78 -18.24%
01.04.17 to 30.09.17 2.48 2.75 -1.08%
43
Awards and Accolades
Special technical award Greening of Oil and Gas Business, Corporate during
Petrotech 2016 for excellent and outstanding commitment & contributions
towards greening of oil and gas business
Energy and Environment Foundation Global Sustainability Award 2016 in Gold
Category for excellent and outstanding contributions, commitment and actions that
have made a positive impact on the environment