Why ONGC Videsh Is Central to India’s Long-Term Energy Security
ONGC Videsh, a Navratna PSU, strengthens India’s energy security through 32 overseas oil and gas assets across 15 countries with strong FY25 production.
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New Delhi: ONGC Videsh Limited (OVL), a Navratna Schedule ‘A’ Central Public Sector Enterprise under the Ministry of Petroleum & Natural Gas, continues to play a critical role in strengthening India’s long-term energy security through its extensive overseas oil and gas operations.
A wholly owned subsidiary and the international arm of Oil and Natural Gas Corporation Limited (ONGC), ONGC Videsh is engaged in exploration, development, and production of oil and gas assets outside India. The company currently holds participating interests in 32 oil and gas assets spread across 15 countries, making it the second-largest petroleum company in India in terms of overseas reserves and production.
Strong Contribution to India’s Energy Needs
During FY 2024–25, ONGC Videsh produced 7.265 million metric tonnes (MMT) of crude oil and 10.278 million metric tonnes of oil equivalent (MMTOE) of oil and gas. This accounted for approximately 25.3% of India’s crude oil production and 15.9% of total domestic oil and gas output, underscoring its strategic importance to the country’s energy basket.
Diverse Global Asset Portfolio
ONGC Videsh’s international footprint spans key energy regions including Russia, Brazil, Vietnam, Mozambique, Colombia, Myanmar, UAE, South Sudan, Venezuela, Azerbaijan, and Bangladesh. The company maintains a balanced portfolio comprising producing assets, discovered fields, exploration blocks, and pipeline projects, ensuring sustainable growth and future production potential.
At present, the company has 14 producing assets, four discovered projects under development, 11 exploration-stage assets, and three pipeline projects, reflecting a strong and diversified operational base.
Strategic Partnerships and Technical Expertise
Operating in a highly competitive global energy market, ONGC Videsh has built strong technical and commercial capabilities. Over the years, it has forged strategic partnerships with leading International Oil Companies (IOCs) and National Oil Companies (NOCs), including ExxonMobil, BP, Shell, TotalEnergies, ENI, Rosneft, ADNOC, Petrobras, Petronas, CNPC, Sinopec, PetroVietnam, and Ecopetrol.
Backed by a highly skilled workforce and continuous support from its parent company ONGC, ONGC Videsh possesses deep expertise in project evaluation, techno-commercial due diligence, bid negotiations, and transaction execution.
With its expanding global presence and robust operational capabilities, ONGC Videsh remains a cornerstone of India’s strategy to secure reliable energy supplies from international sources.