MISSION, VISION AND OVERVIEW OF ONGC

Prepared By Ankit Panchal (15) Ankit Parikh (32)

Guided By Prof. Anjulika Singh

HISTORY AND OVERVIEW OF ONGC

ONGC was set up under the visionary leadership of Pandit Jawaharlal Lal Nehru, going against the wisdom of the then multinational oil companies operating in the country, who had almost written India off as a Hydrocarbon Barren country. Pandit Nehru reposed faith in Shri Keshav Dev Malviya who laid the foundation of ONGC in the form of Oil and Gas division, under Geological Survey of India, in 1955. A few months later, it was converted into an Oil and Natural Gas Directorate.

The Directorate was converted into Commission and christened Oil & Natural Gas Commission on 14th August 1956. 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. Over 50 years of its existence ONGC has crossed many a milestones to realize the energy dreams of India.

A written declaration of an organization's core purpose and focus that normally remains unchanged over time. Properly crafted mission statements (1) serve as filters to separate what is important from what is not (2) clearly state which markets will be served and how, and (3) communicate a sense of intended direction to the entire organization.

 1. 2. 3.

A well and clearly stated Mission statement should contain 3 things: The Purpose Statement The Business Statement Values

An aspirational description of what an organization would like to achieve or accomplish in the mid-term or long-term future. It is intended to serves as a clear guide for choosing current and future courses of action.

1. 2. 3. 4. 5. 6.

It is written in the present, not future tense. It is summarized with a powerful phrase. It describes an outcome, the best outcome we can achieve. It uses unequivocal language. It evokes emotion. It helps build a picture, the same picture, in peoples mind.

To be global leader in integrated energy business through sustainable growth, knowledge excellence and exemplary governance practices.

1. 2. 3.

The following Vision and Mission states three things: World Class Integrated In Energy Business Dominant Indian Leadership

TYPE TRADED AS

PUBLIC NSE: ONGC BSE:500312 BSE SENSEX CONSTITUENT OIL AND GAS

INDUSTRY FOUNDED

14TH AUGUST 1956 TEL BHAVAN, DEHRADUN, INDIA SUDHIR VASUDEVA (CHAIRMAN AND MD) PETROLEUM, NATURAL GAS AND OTHER PETROCHEMICALS. US$ 30.745 BILLION US$ 5.874 BILLION
US$ 45.475 BILLION US$ 26.784 BILLION GOVERNMENT OF INDIA 32,862 MRPL (MANGALORE REFINERY AND PETROCHEMICALSLIMITED)

HEADQUARTERS
KEY PEOPLE PRODUCTS REVENUES

PROFITS
TOTAL ASSETS TOTAL EQUITY OWNER(S) EMPLOYEES SUBSIDIARIES

Oil and Natural Gas Corporation Ltd. (ONGC) is engaged in E&P activities both in Onshore and Offshore. The Corporation is now venturing out to new areas i.e. deepwater exploration and drilling, exploration in frontier basins, marginal field development, optimization of field envelopment plan field recovery and other allied areas of service sector. Engagements in these areas will require bestin-class technology, processes and practices and savvy use of the R&D assets to their fullest advantage.

From the report done above we had a great learning and also it helped us to enhance our knowledge about the ONGC. We also learned about the Mission and Vision statement of Organization.