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Azadi ka Amrit Mahotsav: ONGC organizes study tour for KV students to Tripura’s ADB Installation

Oil and Natural Gas Corporation Limited (ONGC) continues its study tours of students, as a part of the observance of Azadi Ka Amrit Mahotsav – celebrating 75 years of India’s Independence. On 5 January 2022, 106 students from Kendriya Vidyalaya of ONGC North Colony, Agartala visited ONGC Tripura Asset’s petroleum Installation.

The students traveled from ONGC’s Base Complex at Agartala in buses provided by ONGC. For added security and comfort of the students, they were accompanied by teachers from the school for proper supervision.

Senior engineers from ONGC Tripura Asset at ADB Gas Collecting Station explained the energy business to the students, beginning with a film on the origins of oil and gas followed by another short video presentation on ONGC’s operations. Students were given a walkthrough of the Installation and its key areas viz. Christmas Tree (ADB Well#01), Process Area and Dehydration Unit (from a distance), Manifold Area, etc.

Under the aegis of the Ministry of Petroleum and Natural Gas (MoP&NG), ONGC is organizing study visits of 25 groups, comprising of around 100 students in each group, since September 2021, under ‘Azadi Ka Amrit Mahotsav’ (AKAM). Till now, ONGC has organized study tours for over 1000 students at various locations of ONGC like Ankleshwar, Assam, Tripura, Rajahmundry, Ahmedabad, Cambay, Cauvery, Mehsana, etc.

Under this AKAM, ONGC is also collaborating with other oil PSUs, to launch various projects to boost the country’s indigenous handicraft sector. Center public enterprises under the Ministry of Petroleum & Natural Gas will be launching 75 different handicraft projects across the country. Among which, ONGC has taken the lead and is supporting 15 projects. ONGC has already launched six handicraft projects in Madhya Pradesh, Assam, Odisha, Jharkhand, Uttarakhand and Karnataka. Minister of State, Petroleum & Natural Gas and Labor & Employment Shri Rameswar Teli launched the 3rd project – Assam Handloom project ‘Ujjwal Abahan’ in August 2021.

Issued By: Oil and Natural Gas Corporation Ltd Corporate Communications, New Delhi, Phone: +91-11-26754013 Mail: ongcdelhicc@ongc.co.in

Source Link: https://ongcindia.com/wps/wcm/connect/en/media/press-release/study-tour-for-kv-students

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KDMIPE inks MoU with Centre of Scientific and Industrial Research-National Institute of Oceanography

ONGC’s premier upstream R&D Institute KDMIPE Dehradun and National Institute of Oceanography (NIO) Goa entered into a five-year Memorandum of Understanding (MoU) on 5 January 2022. This MoU will establish a formal affiliation for the purpose of enhancing the relationship between both institutions, in synergizing their respective strengths and to work together to promote sharing of industrial knowledge, expert lectures and to explore field of common areas for developing cutting-edge research.

The MoU describes the arena for future projects and relationships between KDMIPE-ONGC and CSIR-NIO. The projects under the MoU will focus on specific problem faced by the hydrocarbon industry. The special focus will be on the structure and evolution of the continental margins of India and the adjacent deep ocean basins. The studies under the MoU will provide the basic framework of hydrocarbon exploration in Indian continental margin basins.

The signing of this MoU marks the culmination of co-ordinated efforts of executives of KDMIPE and NIO in which both organizations will formulate and execute projects utilizing their respective strengths and experiences in plate tectonic reconstructions focussing on continental margin basins of India.

The MoU has received keen attention and guidance of Director (Exploration) of ONGC, underlining his vision of collaborative R&D as a means of skill development and capacity building. The event was held over a video conference session in presence of senior executives from both sides. Director NIO, Prof. Sunil Kumar Singh signed the MoU on behalf of NIO and ED-Head KDMIPE S N Chitnis signed on behalf of Director (Exploration) ONGC.

On the occasion, ED-Head KDMIPE expressed that KDMIPE and CSIR-NIO are coming together for the purpose of enhancing the relationship between both institutions through signing of this Memorandum of Understanding. He further stressed that both institutes are going to synergize their respective strengths and work together to promote sharing of knowledge and research expertise. In view of growing energy demand and challenges faced by the hydrocarbon industry, Prof. Sunil Kumar Singh expressed that MoU will certainly address the problems of industry through the specialized efforts from NIO in the form of Collaborative research.

Both the institutes expressed that Mesozoic hydrocarbon exploration would get a new thrust as deciphering the Mesozoic is possible through the improved plate tectonic models. Both the institutes involved will frame projects for relevant work association. This will help in bringing out new areas for hydrocarbon exploration. Furthermore, this collaboration will also support skill enhancement of associated ONGC geoscientists in the domain.

ED-Head KDMIPE S N Chitnis congratulated both sides for their endeavors that led to the signing of the MoU and also put forward his expectations that this collaboration may pave the way for similar such collaborations in future with greater objectives in exploration.

Team KDMIPE

Source Link: https://ongcindia.com/wps/wcm/connect/en/media/topstories/kdmipe-inks-mou-research-national-institute-oceanography

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Pankaj Kumar takes over charge as ONGC Director (Offshore)

Pankaj Kumar has taken over charge of Director (Offshore) of Oil and Natural Gas Corporation Limited (ONGC) on 4 September 2021. As Director (Offshore), Mr. Kumar will be responsible for the entire gamut of Offshore Oil & Gas fields contributing around 70 per cent of Crude Oil and 78 per cent of Natural Gas production of the Maharatna ONGC.

Mr Kumar is a thorough Oil & Gas industry professional with more than 34 years of experience across ONGC’s business functions, varying from Operations Management of Offshore and Onshore fields, Well Engineering, Joint Venture Management, Corporate Strategic Management and Asset Management. He has held key positions as Chief of Corporate Strategy & Planning group of ONGC and Asset Manager of Cambay and Ahmedabad Asset. Sustainable production enhancement from mature fields of Ahmedabad and Cambay is a testimony to his impeccable Asset and Project Management skills.  He has been instrumental in bringing numerous technological advances by working with various Assets across the Energy major.

During his recent tenure as Asset Manager of one of the largest onshore Assets of ONGC at Ahmedabad, the country faced the worst-ever pandemic and lock down. Under his dynamic leadership, during this severe lock-conditions, the Asset with 67 installations continued production round-the-clock.

He is known for his visionary approach and dynamic decision making. During his stint in Joint Venture (JV) Operations Group, Mr Kumar was instrumental in exceptional turnaround of CB-OS/2 Offshore JV block by making it profitable with almost 100 per cent increase in production and delivering complex offshore projects in Panna-Mukta and Tapti block, on-time and within allocated budget. Mr Kumar contrbuted in formulation of ONGC’s Long Term Growth Strategy: Energy Strategy 2040 as Chief Corporate Strategy & Planning.

Mr Kumar is also the Chairperson of Society of Petroleum Engineers India Section (SPE) – an international organization formed to collect, disseminate and exchange technical knowledge concerning the exploration, development and production of oil and gas resources and related technologies for the public benefit. He holds a Bachelor’s degree in Chemical Engineering from University of Roorkee (now IIT Roorkee) and Master’s degree in Process Engineering from IIT Delhi. He completed Advance Management Program at IIM Bengaluru and Leadership Development Program at IIM Calcutta.

Issued By: Oil and Natural Gas Corporation Ltd Corporate Communications, New Delhi, Phone: +91-11-26754013 Mail: ongcdelhicc@ongc.co.in

Source Link : https://bit.ly/39a3YRh

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ONGC organizing vaccination camps in its pan-India locations. Several camps in Chennai & Kakinada administered over 2000 jabs to serving & retired ONGCians, their family members and contractual workforce.

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Employee Engagement Initiative and Activities during lockdown for better Employee Relationship and Management

Employee Engagement Initiative and Employee Engagement Activities are the extent to which the employees feel passionate about their jobs, are committed to the organization, and put discretionary effort into their work. In today’s corporate world, with smart employees, Employee engagement goes beyond activities, games, and events.

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World Environment Day , Hon’ble PM Narendra Modi released E20 notification to advance India’s ethanol blending target of 20% by 2025 from the earlier 2030 & also launch other ethanol initiatives for a decarbonised future.

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ONGC unending efforts in helping the nation and its people with their safety and security, the nation’s Maharatna gets conferred with the SKOCH Silver Award in the category “Response to COVID-19”. #ONGC urges everyone to register for #LargestVaccineDrive and be a proud participant of #IndiaFightsCorona

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Corporate Social Responsibility vis-à-vis Corporate Sustainability

A lot has been written and asked about “Difference between Corporate Social Responsibility & Corporate Sustainability”. To understand this, we must under the two major ingredients, Corporate Social Responsibility and Corporate Sustainability.

Corporate sustainability comes from the concept of “sustainable development.” Sustainable development means actions that “meet the needs of present generations without compromising the needs of future generations.” We personally like this best explained in these words. Simple and Short and to the Point.

To contribute to sustainable development, businesses should create resources to reduce poverty, but do so without harming the natural environment or creating a misbalance. In this way, businesses help our world today and ensure that future generations can also thrive. Corporate Sustainability often falls under the broader term “environmental social governance”.

1. The Environmental Pillar

The environmental pillar is often the most talked-about of the three pillars of corporate sustainability. It includes the various actions companies can take to reduce their environmental impact and carbon footprint.

2. The Social Pillar

The social pillar focuses on a company seeking the approval of its stakeholders, employees, and the local community. A big part of corporate sustainability is a company’s dedication to taking good care of people inside and outside of the business.

3. The Economic Pillar

The economic pillar involves implementing sustainable business practices to promote long term profitability. After all, a company can’t have a positive impact on the environment or community if it’s not profitable.

Now, let’s take a deep dive into knowing What Is Corporate Social Responsibility?

Corporate social responsibility (CSR) is a broader concept than corporate sustainability. In short, “[CSR] helps a company be socially accountable—to itself, its stakeholders, and the public.”

A company that engages in CSR operates in a way that enhances society, both locally and globally. CSR is a long-term strategy that is never temporary and always evolving.

Now we think that we have sufficient information to understand the question of “What is the Difference between Corporate Social Responsibility & Corporate Sustainability"?

Vision

CSR often looks backward and reflects on what a company has done to contribute to society. Corporate sustainability looks forward and develops a sustainable strategy for the future.

Target

The targets of CSR initiatives are often opinion formers (e.g., media, politicians, and pressure groups). Corporate sustainability looks at the whole value chain (i.e., everyone from end-consumers to stakeholders).

Motivation

The motivation and driving force behind CSR initiatives is to protect a company’s reputation. For corporate sustainability, the drive has more to do with creating new opportunities for emerging markets.

Corporate Social Responsibility (CSR) and Corporate Sustainability both focus on an organisation’s efforts to contribute positively to environmental and social impacts.

Conclusion

Sustainability and corporate social responsibility are different, yet connected. If sustainability is the bread, CSR is the butter. CSR aims to build brand trust by looking good and addressing current issues whereas Sustainability is about action for long-term impact and ensures a healthy planet, secure societies and robust economies for the generations to come and working towards maintaining a perfect socio-economic and environmental harmony.

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Employee Engagement Activities

Employee Engagement Activities are the extent to which the employees feel passionate about their jobs, are committed to the organization, and put discretionary effort into their work. In today’s smart world, with equally smart employees, Employee engagement goes beyond activities, games, and events. Employee Engagement Initiative and Activities at ONGC are all about creating the right conditions for all members of the organization to give of their best each day, committed to their organization's goals and values, motivated to contribute to organizational success, with an enhanced sense of their own well-being.

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ONGC “No effort Too Big in Saving Lives”

Navy, ONGC stood between life and death for personnel onboard Pappa 305

 It was scary situation for personnel onboard barge Pappa 305, caught in cyclone Tauktae which crossed Mumbai offshore on May 16 – 17, 2021. The heavy rains and gusty winds along with high sea swell made the situation worse. Nilesh Lingayat, Sumsuzaman Mirza, Sandip and several others were just praying for their lives as strong waves kept hitting the barge.

 On May 17, as the barge started sinking, and they were asked to ‘Abandon’ ship, each person onboard wore their life jackets and waited with baited breath for someone to rescue them. As life was at stake, mobiles, documents and other belongings did not matter to anyone.

 Caught between a sinking barge and cyclone, the persons onboard started jumping into the sea in groups of 5-6 members each, holding each other’s hands. Idea was to remain together, so that it was easy for the rescue team to spot them through the lights on their life jackets. But the strong waves were hitting them so hard that most of them got de-grouped in no time.  

 ONGC vessel Ocean Energy was the first responder to the SOS, followed by INS Kochi and INS Kolkata. But high waves, strong winds, incessant rains and low visibility made it difficult for rescuers to reach them.

 The choppy sea made it difficult for the rescue ships to reach near the barge. If the ships tried to move closer, there were chances that they might hit the barge. The rescue teams asked them to swim towards the ships so that they can be lifted. Luckily, for some, rescue teams made it in time.

 A total of 186 persons were rescued from Barge P-305. ONGC vessels rescued 54 survivors while rest by INS Kochi and INS Kolkata. Search and Rescue operations continue till all bodies of the deceased are identified by their family members.

 After the traumatic hours and fight for survival, the survivors were brought to Mumbai. They were provided first aid and were treated for any serious injuries. While their company provided them with accommodation, ONGC decided to provide an immediate financial assistance of Rs. 1 lakh to the survivors and Rs. 2 Lakhs to the families of the deceased.

 Quotes:

NILESH LINGAYAT, Housekeeper, Sinai Maritime

 “We were on the ship. They told us to wear a life jacket and stand in the queue and that the Indian navy will come to save us. But I was unconscious when the navy rescued me. I asked navy officers what time they saved me, they told me around 5/6 am, so it seems I was around 14 to 15 hrs in the water. They told me if there would have been any further delay, I may not have survived. We were taken to a nearby guesthouse, were given food, doctor was there to give us first aid and some treatment. ONGC gave us clothes and Rs 100,000 for which we are thankful.”

SUMSUZAMAN MIRZA, Housekeeper, Sinai Maritime

 “I was taking rest after duty hours, and suddenly as the storm and rain took its momentum, water gushed on the deck and everyone tried to use small utensils or buckets to throw the water out of the barge. Situation remained grim for quite a while, but when Indian navy rescued us we were taken to a near by guesthouse, were given food, doctor was there to give us first aid and some treatment. ONGC gave us clothes and Rs 100,000 for which we are thankful.”

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Oil Exploration & Upstream Petroleum Companies in India with Focus on Carbon Management

Whenever there is a mention of any Oil Exploration Companies in India, there is just one name that stands at the fore, and the name is country’s Maharatna, ONGC. The very name is synonymous of Exploration to Oil, Carbon Management, Leadership, commitment and keeping the nation safe and secure.

ONGC has a rich history of its evolution since 1954, and how the organisation became India’s most favoured Multi National Company. It was not surprising when in 2010 it was conferred with Maharatna status in the year 2010. Not only in Oil Exploration but we are also one of the leaders in Upstream Petroleum Companies and Carbon Management.

Let now know a little more about ONGC as an Upstream Petroleum Company. An Upstream oil and gas production is conducted by companies who identify, extract, or produce raw materials. Upstream oil and gas production and operations identify deposits, drill wells, and recover raw materials from underground.

They are also often called exploration and production companies. This sector also includes related services such as rig operations, feasibility studies, machinery rental, and extraction of chemical supply. Downstream oil and gas production companies are closer to the end user or consumer.

The next few years may witness a closer collaboration of Steel and Oil & Gas sectors of the Indian economy. Chairing a webinar on “Atmanirbhar Bharat– Fostering domestic steel usage in oil & gas sector”, the Minister of Petroleum & Natural Gas and Steel Mr. Dharmendra Pradhan said that the growth profile of the Oil and Gas sector offers a huge opportunity to the domestic steel industry.

Analysing the structure of the upstream petroleum Industry, the three major upstream segments are: (1) Production facilities like GGS in onshore or Process Platforms in offshore, (2) Line pipes for transportation and (3) Oil Country Tubular Goods for Exploration and Development. “The projects in all these segments will rise in the next few years.”

We care for our planet

ONGC being one of the premier energy majors of the world, we realise our roles and responsibilities in ensuring sustained development through protection of the ecological system. We care for our environment and want our generations to enjoy the green ecological system. We therefore strive to position our self as a leading organisation in sustainable management and strive to achieve sustainable development through a holistic approach to carbon management.

ONGC believes that focused Carbon Management efforts are an ideal route to cover the elements of our business specific sustainable development issues across the environmental dimensions. A critical area of environmental sustainability is mitigation of global greenhouse gas from operations. It is an organizational objective for us to progressively reduce our carbon footprint by working towards reduction in both direct and indirect energy consumption.

We have a highly dedicated Carbon Management & Sustainability Group (CM&SG) with a specific mandate to position ONGC as the leading organisation in sustainable development (SD) and to voluntarily take up carbon management strategy to synergise all business activities with sustainable development, particularly to address issues related to climate change risks and opportunities arising from carbon mitigation initiatives.

The management has been active in engaging with national and international climate change forum to ensure that the organisation stays current with global climate change negotiations and India’s domestic commitments.

At this point we find it worthwhile to mention about our Global Methane Initiative (GMI). Global Methane Initiative (GMI) was launched by United States Environmental Protection Agency (USEPA) is a voluntary, multilateral partnership and other interested stakeholders in a collaborative effort to reduce methane gas emissions and advance methane recovery and use as a clean energy source.

The efforts not only reduce global methane emissions but also stimulate economic growth, strengthen energy security, improving local air & water quality in addition to the safety of the manpower employed.

ONGC signed a voluntary agreement with USEPA in 2007 for the purpose of reducing fugitive methane emission in atmosphere by implementing cost effective emission reduction technologies and practices. Regular gas leak surveys are conducted at various production installations using Gas Find Infrared Camera.

The main objective of the gas leak survey was to identify the fugitive gas leaks to enable the remedial action in order to improve the operational efficiency, enhancing workplace safety, protecting the environment and increasing marketable natural gas.

In FY20, CM&SG group had completed the GMI Survey of the following locations

Uran Plant  (11.11.2019 to13.11.2019) Hazira Plant (22.04.2019 to 25.04.2019) Assam Asset (30.10.2019 to 02.11.2019)

In FY21, CM&SG group had completed the GMI Survey of the following locations

Ahmedabad Asset (11.03.2021 to 13.03.2021) Cambay Asset ( 15.03.2021 to 16.03.2021)

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ONGC as Top 25 Best Workplaces to Grow Your Career in India” by LinkedIn for the year 2021

We all dream and strive hard to have a successful, challenging and most importantly, a satisfying career in an organization. So how does one ensure that the future is safe and secure and fulfils the professional dream. A simple answer lies in the fact is the “Work Culture”. The work culture of an organization can absolutely be the deal-breaker or a decisive factor when it comes to defining an employee’s success and the success of an organization. This is why we are India’s Top 25 Workplaces to grow your career in India as per the survey conducted by Linkedin and Published on April 28, 2021.

One such promising organization is none other than ONGC India. ONGC is a brand that is synonymous with Success, challenge, opportunities, and career progression. At ONGC, we care more about the kind of people we acquire than the money or time that goes into hiring them. Let us know the Methodology which was used to set various stringent parameters, so that, only the best remains. There were as many as seven such parameters that were used, at a minuscule level, to say the least, to reach the conclusion of their survey.

As we are all aware that over the last few months, every organization has had its fair share of ups and downs, a little tweak in the work distribution and management, certain revision of the policies and so on and so forth. But when we talk about the nation’s Maharatna, ONGC, the culture, work management, remained intact. At this point, we think that it is worth to mention that the company started its own 24x7 Helpdesk for Covid19 For better coordination and information dissemination, known as  OCAY Desk (ONGC Covid19 Assistance for You).

The company’s COVID-19 response is premised on preserving ‘People, Material and Resources’, and continuously reassessing its efficacy and effectiveness and also revisiting the strategies based on regular updates from operations teams, channel partners, and in-house HSE, Risk and Medical teams.

When it is said that ONGC is amongst the top 25 best workplaces to grow your career, it doesn’t mean just one particular level. Every organization has many Operational Verticals, many cross function and everything single part of the huge machinery was included in this survey. Just as much an Organization has certain expectation from an employee, so does an employee, after all, it is a two way street.

Understandably, remuneration package plays a vital role in the decision making process, but with the change in the dynamics and the mind set of an employee, they want a little more, it could be in a form of a Non Monetary benefit, such as a certain degree of risk, an element of adventure, a change in the work secrecy and many more.

And this is where ONGC becomes a complete package in the form of a workplace to start a career with. With numerous training workshops to upgrade employees skills and help them in their career progression, to assistance in picking up any challenging adventure, these are all covered and come with ONGC where dreams and Sky, have no limit.

Source Link: https://www.linkedin.com/pulse/top-companies-2021-25-best-workplaces-grow-your-career-/

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The Role of E & P Companies in India in a Rapidly Changing Energy Market

Exploration and production refers to two key processes in the mining industry e.g. exploration, which is the initial stage when the availability of the energy source or crude oil is explored in specific locations. It follows from here to production which is when the final product rolls out into the market for use by the consumers. Interestingly, E & P companies in India or elsewhere, do not normally get into production and ships the raw petroleum or gas to other companies specialized in such operations. Oil and Natural Gas Commission (ONGC) is a Maharatna public sector undertaking (PSU) that is at the forefront of oil and gas exploration in the country and is also known as a leading company globally.

The booming hydrocarbons sector in India

India's hydrocarbons sector comprising oil and gas companies both in the public and private sectors, is booming. This is mainly due to the fast growth registered by the automotive sector, which is set to grow even faster in the years ahead. The automotive sector is the main consumer of most of the oil and gas that the country procures either by way of imports or through domestic production. ONGC and Oil India, another public sector oil and gas exploration company, are the main E & P companies in India.

Currently, India is one of the largest consumers of oil and gas in the world, just after China and the United States. India's oil import bill in the year 2019-20 was USD 101 billion which is lower than the previous year’s bill even though the volume of import had increased marginally to around 227 million tonnes in 2019-20. The domestic oil production in India in 2020 continued to be significantly low. The growth in consumption of petroleum products increased more than 27% in March 2020 as compared to what it was a year ago when the nationwide lockdown was imposed to check the pandemic.

One of the world’s biggest petroleum products market

The Indian petroleum products market is worth well over a hundred billion dollars of which, over four-fifths of the supply is imported. On the demand side, the automotive sector which is the biggest consumer of petroleum products is projected to grow very fast over the next few years. The massive petroleum import bill is a drag on the economy and the near total dependence on imports is a strategic challenge for the government. To tackle this situation the government intends to reduce import dependence significantly in the years ahead.

In order to sustain the lower import dependence well into the future, domestic production of oil and gas needs to be scaled up. The major E & P companies in India like ONGC will play a significant role in exploring new oil and gas reserves as well as operationalizing those that are yet to be officially sanctioned for exploration. ONGC’s long experience will be critical in optimizing India’s limited oil reserves for sustainable production in the long run. At the same time other innovations like bio-ethanol blending, compressed natural gas (CNG), etc. will also help the nation in reducing dependence on oil imports.

How the Oil Supply Chain Works

Exploration for oil and gas by E & P companies in India like ONGC is essentially an upstream process involving.

Survey and exploration – Expert teams equipped with preliminary information about the likely location of oil and gas reserves, carry out the survey and exploration for oil.

Digging and construction of wells - Crude petroleum has high paraffin wax content and is extremely messy and difficult to manage after extraction.

Extraction of crude oil - Once the oil is extracted, it needs to be stored and transported to the refinery for processing and refining in order to make it usable for consumers.

Abandonment of wells – Every oil well has a specific capacity up to which, it has oil reserves that can be extracted. Once the available oil in the well has been extracted to the extent possible, the well needs to be sealed and abandoned.

Storage and transportation of crude oil – The crude oil needs to be transported via pipeline to the refinery where it has storage facilities.

Refining the crude oil for end use – The crude petroleum gets processed and refined at the refinery for use by end consumers.

Distributing the refined oil to retailers – The refined oil is then distributed via automobile tankers to the retail point of sale (POS) units like petrol pumps.

Conclusion

The two major state-owned PSU E & P companies in India, ONGC and Oil India along with others in the private sector can explore and produce only that much oil and gas that is available in the identified reserves of India. Unfortunately, India is not very richly endowed with petroleum deposits to meet even on-fifth of her requirements. As the fastest growing major economy which is set to overtake Germany and become the 4th largest economy in the world in exchange rate terms, India has a huge and growing demand for auto-fuel.

Domestic production cannot be increased in absolute terms and neither is the government willing to increase dependence on imports beyond the current level. In the long run, as alternative fuels cut into the market share of petroleum, the country's E & P companies will play a very important role in ensuring that India's domestic production of oil and gas meets an ever larger share of her petroleum products market. The government also has plans to upgrade the end use petroleum products by blending bio-ethanol and other innovative ingredients and here too, the E & P companies will play a key role.

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ONGC bags 7 Blocks in Bid Round IV of OALP

ONGC started the year 2020 on high notes, bagging all seven Oil and Gas Blocks offered in the fourth bid of the Open Acreage Licensing Policy (OALP) of the Ministry of Petroleum and Natural Gas (MoPNG).

The contract signing ceremony of was held on 2 January 2020. Director (Exploration) Mr R K Srivastava and Director General of Hydrocarbon (DGH) Mr S C L Das signed the contract, amid the presence of Petroleum Minister Mr Dharmendra Pradhan, ONGC CMD Mr Shashi Shanker, Director (Finance) Mr Subhash Kumar, Director (Offshore) Mr Rajesh Kakkar, Director (Onshore) Mr Sanjay Kumar Moitra, Director (HR) Dr Alka Mittal and Head Excom Sanjay Chawla. Also present at the ceremony were MoPNG Secretary Dr M M Kutty, Joint Secretary Mr Amar Nath and Additional Secretary Mr Rajiv Bansal.

The fourth round of the OALP biddings opened on 27 August 2019, and the signing ceremony was the culmination of the process with revised policy framework. In the latest bid, 18,510 sq Km was offered to ONGC for exploration and production. Of the seven blocks, five are located in Madhya Pradesh and one block each in Rajasthan and West Bengal. The Blocks in Madhya Pradesh fall under the Vindhya Basin – which is a Category II Basin and the Block in the Bengal Purnea Basin fall under Category III – which is not yet being explored.

Addressing the gathering at the ceremony, Mr Dharmendra Pradhan said that the signing of the contract through OALP aims at securing the energy security of the country. The Petroleum Minister said that energy major like ONGC, with its modern technologies and digitalization, will make the best out of all the seven blocks offered.

Mr Pradhan noted that in the last two fiscal years, the government has successfully bid out 140,000 sq km for exploration and production and has made multiple policy reforms. “As many as 55 Blocks were awarded in the first round of OALP and 32 blocks each in the second and third round,” he said.

He further stated that the government intends to focus on production maximization than revenue optimization. He asserted that in the year 2020 the country will take a new leap in ensuring energy security for all.

Earlier in his welcome address, DGH Mr SCL Das said that the OALP biddings aim at facilitating the E&P sector towards the national vision of energy security. He mentioned that in the present time there is a critical requirement of hydrocarbon in meeting the growing energy requirement in the country. He further said that the Oil and Gas industries are the major factor in the growth of the Indian economy and Petroleum and Natural Gas contribute significantly to the country’s GDP.