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"The deer scent the wolves and stand silent and watchful.
They turn and leap off like ballerinas,
their plume-like tails raised in alarm." - Kathleen Valentine, Each Angel Burns: A Novel

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ONGC drills 503 wells in FY'18

Thesynergyonline Corporate Bureau


NEW DELHI, MAY 02 :
Oil and Natural Gas Corporation Ltd (ONGC) has drilled 503 wells in 2017-18, which is the highest number of wells drilled in last 27 years.

Among the 503 wells, 119 exploratory and 384 development wells were drilled. In order to assess the prospectivity of existing acreages in a time-bound manner and add to the company's reserve base, more focus was laid on exploratory drilling.
In FY'18, ONGC's planned capacity expenditure outlay on drilling activities was Rs 16,038 crore with a target to drill 496 wells including 110 exploratory and 386 development wells. However, the company has drilled 503 wells at a cost of approx Rs 14,200 crore which is 11.5% lower than the budget outlay. The initiatives taken by the company to optimize cost and enhance operational efficiencies has yielded additional savings in the fiscal year ended March 31, 2018.

This is the second consecutive year that ONGC has drilled over 500 wells. Last year, the company drilled 501 wells at a cost of Rs 15,440 crore. This comes at a times when the company is looking to step up domestic output in line with the clarion call given by Hon'ble Prime Minister to reduce 10 percent import dependence by 2022.
Speaking about the achievement, Mr Shashi Shanker, CMD ONGC said, "We have taken measures to improve our operational efficiency by better well designs, inducting new technologies, improving cycle-speed, standardization of well testing procedures and minimizing idling period of rigs".

What's more remarkable is that among the 119 exploratory wells drilled, 8 were in the deep-water fields against initial target of 6 and 45 in shallow-water fields against target of 38.


In order to have a more focused approach in drilling operations, a new concept 'Company within Company' was rolled out in Mumbai High (MH) Asset to bring about operational efficiency in offshore drilling operations. "The plan has already paid rich dividends as MH Asset achieved highest-ever cycle and commercial speeds", Mr Shanker said.

This year, ONGC has set a capex outlay of Rs 17,615 crore on drilling activities. There is a significant upside in the number of deepwater development wells planned by the company. The company has set an ambitious target to drill 535 wells, of which 24 are deep-water development wells as part of Cluster-2 development of KG-DWN-98/2 project, off the East-Coast of India. The company is also set to drill 30 wells as part of its CBM development project.

MRPL wins BML Munjal award for Business Excellence through Learning and Development

Thesynergyonline Corporate Bureau


MANGALURU, APRIL 19 : Mangalore Refinery and Petrochemicals Limited (MRPL), subsidiary of Oil and Natural Gas Corporation (ONGC) won the prestigious BML Munjal Award for Business Excellence through Learning and Development.
The 13th edition of this Award was given away on 19th April 2018 at a grand function in New Delhi by Former President Shri Pranab Mukherjee. MRPL won the Runner up trophy in the PSU Manufacturing category. The award was received by Shri B H V Prasad, GGM(HR) on behalf of Team MRPL.

This HR award is unique as there is a stringent four stage due process to select the winners with eminent personalities of the Corporate India serving as the jurors. The Award recognises HR departments in Corporate that follow robust people processes that deliver a positive difference to business.

Subodh Gupta appointed BHel director ,Finance

Thesynergyonline Corporate Bureau


NEW DELHI, APRIL 19 : On his appointment as Director on the Board of Bharat Heavy Electricals Limited (BHEL), Mr Subodh Gupta, 54, has assumed charge as Director (Finance) of the Public Sector Engineering and Manufacturing Enterprise.
Prior to this he was handling overall financial planning and strategy, treasury management and taxation in the Corp. Finance division of BHEL, besides heading the finance function of Strategic Business Units under the company's Industry Sector business segment.


A career finance professional, Sh. Gupta brings with him more than 32 years of diverse experience in the financial operations of BHEL. As a certified TQM assessor from European Foundation for Quality Management, he has significantly contributed in improvement of business processes and conducted several internal and external TQM assessments. He is a Commerce (Honours) Graduate from University of Delhi and a Fellow member of the Institute of Cost Accountants of India (ICAI). He was conferred with CMA Achiever's Award - Certificate of Merit 2016, for his significant contribution to Corporate Management practices, under the category 'PSU Manufacturing - Large' by ICAI.

Mr Subodh Gupta started his career with BHEL as Trainee (Finance) in 1985 and during his career progression, equipped himself with all facets of financial management to take challenging responsibilities at a relatively younger age. While heading the team in the crucial area of costing in a major manufacturing unit, he played a pivotal role in BHEL receiving its first ICWAI National Award for Excellence in Cost Management 2005 and its maiden prestigious CII-Exim Bank Award for Business Excellence 2006.
With a passion to serve the profession and society, he has been actively associated with ICAI in various capacities as Faculty, Secretary and Chairman of the Haridwar Chapter.

Mr Gupta's earlier stints as Head of Finance at Transmission Business Group, International Operations Division and at Industry Sector resulted in developing financial strategies and policies for pricing, cost control and profit planning for achieving overall goals of the company. His contribution towards risk assessment and advising its mitigation measures in strategic tie-ups / consortiums and overseas business opportunities is significant. He has been a member of various corporate committees tasked with formulating new accounting policies and simplification of existing business policies to meet market challenges.

Sanjay Kumar Moitra takes charge
as Director (Onshore), ONGC

Thesynergyonline Corporate Bureau


NEW DELHI, APRIL 18 :
Mr Sanjay Kumar Moitra has taken over charge of Director (Onshore) of Oil and Natural Gas Corporation (ONGC) today. As Director (Onshore), he will look after oil and gas production from ONGC’s onshore fields.

With over 35 years of experience in oil & gas production activities at various Indian basins, Mr Moitra has conceptualised many out-of-box ideas for efficient resource management leading to implementation of a large number of complex and high-value projects in India's oil & gas industry.

Before assuming charge as Director (Onshore), Mr Moitra headed the Bassein & Satellite (B&S) Asset in Western Offshore, Mumbai - the highest gas-producing and second highest oil producing Asset of ONGC and the country - since 2013. The B&S Asset caters to about 30 per cent of total gas production of the country.

Earlier he has also handled critical senior management roles including Head Well Services-Offshore & Chief Offshore Technology & Projects [2012-13], Surface Area Manager - Mumbai High (North) [2010-12], In-charge Facility Engineering Group - Western Offshore [2008-10], Head- Production Planning, Monitoring & Analysis Group of all Offshore Assets and Plants of Mumbai Region of ONGC [2004-08].
He has headed various high-level committees and task forces to oversee critical projects related to oil and gas production, facility renewal, operational issues and technology initiatives.

A thorough technocrat, Mr Moitra has authored many scientific papers relevant to the oil and gas industry. He authored & presented a paper on “Integrated Asset Model of Mumbai High Field” at Offshore Technology Conference (OTC-2007), Houston, USA and also co-authored a paper on “Implementation of Integrated Network Optimization Model for the Mumbai High Field—Crucial to Field-Wide Optimization” at Offshore Europe-2009 at Aberdeen, UK.
 
Mr Moitra joined ONGC in the year 1982. He holds a BE in Mechanical Engineering from Jabalpur University, India and has also completed an Advance Management Course from Cambridge University, UK in 2011.

Secretary General OPEC takes a ‘Pilgrimage Tour’ to IndianOil’s Digboi Refinery


Thesynergyonline Corporate   Bureau

NEW DELHI, APRIL 17 :
Recently an Organization of the Petroleum Exporting Countries (OPEC )  delegation led by Secretary General HE Mohammad Sanusi  Barkindo visited IndianOil’s AOD Digboi Refinery, which is the oldest operating refinery in the world.


The OPEC delegation was given a guided tour of the Digboi Centenary Museum with a detailed brief about the incredible facts that led to the discovery of oil in the remote corner of India in the late 19th century.

 “I am on a pilgrimage” remarked HE Dr. Barkindo as he stood awestruck to behold the Oil Discovery Well No. 1 where it all began.


The delegates went around the refinery, which included pit-stops at the 1928 vintage Wax Moulding Shed and the historic “Still” used to treat crude oil.
When asked about his visit to Digbo, Dr. Barkindo said that Digboi was a name he had heard many  times since his student days; and now  “A dream is fulfilled finally as I have the distinct honour and privilege to visit the birth place of the oil industry  that fuelled the current civilization and will continue to do so in the foreseeable future. I congratulate the management of IndianOil, Digboi and the Government of India for preserving this prized history.”


After planting a sapling to mark his visit, HE Dr Barkindo added, “Contrary to some views, the Petroleum industry devotes its maximum priority, time and resources in the care and concern for the environment. I am extremely honoured on being able to participate in this meaningful action of tree plantation that too in this revered birth-place of oil.”
 

Skilling India: First batch graduates from SDI Ahmedabad with 100% campus placement

Thesynergyonline Corporate   Bureau

AHMEDABAD, APRIL 17 :
The Skill Development Institute (SDI) Ahmedabad, promoted by Oil and Natural Gas Corporation (ONGC) in association with other oil PSUs, has secured 100 per cent placement for its very first batch of ninety students. This is one of the first time that a full batch of students have been employed successfully after completing six months training in a Skill Development Institute. The students were trained in three different trades i.e. Fitter Fabrication, Industrial Welding and Technician (Production) and have been offered job opportunities through campus interviews.

Chairman IndianOil inaugurates ISFL-2018

Thesyneergyonline Energy Bureau

Mr Sanjiv Singh Chairman, IndianOil, inaugurating the 11th edition of International Symposium on Fuels and Lubricants (ISFL) at Surajkund, Delhi NCR

FARIDABAD, APRIL 16 :
Mr Sanjiv Singh Chairman, IndianOil, inaugurated the 11th edition of International Symposium on Fuels and Lubricants (ISFL) at Surajkund, Delhi NCR on April 15, 2018. Dr SSV Ramakumar, Director (R&D), Mr Tom Curtis, Corporate Vice President, Lubrizol Additives, other functional directors of IndianOil, Mr BV Rama Gopal, Director(Ref), Mr. Ranjan Kumar Mohapatra, Director(HR), were present on the occasion..

Speaking on the occasion Mr Sanjiv Singh commented that the oil industry and its associated stakeholders as a whole are confident and ready to collaborate to address the specific needs arising due to the implementation of BS IV to BS VI fuel norms across the country by 2020.

Dr Ramakumar exhorted the august gathering represented by ten countries that India has enormous business opportunities as the country recorded robust growth in various industries specifically automobile. Mr. Curtis reiterated that becoming a world class manufacturing centre, India has significant growth potential.

Based on the theme "Next Generation Fuels & Lubricants for Future Emission Compliance", the symposium has a special session on 'Start Up India'. Conference proceedings containing research findings of around 125 authors were also released on the occasion.

The symposium has eminent speakers from India and abroad addressing a gathering of 350 scientists and technologists from downstream petroleum industry, auto manufacturers, and environmentalists.

 

PM inaugurates 16th International Energy Forum

Emphasises on the need for responsible pricing and transparent & flexible markets
MoU for Ratnagiri Mega Refinery worth Rs 3 lakh crore signed


Thesynergyonline Energy Bureau

 

The Prime Minister of India, Mr Narendra Modi with the IEF Energy Ministers at the inaugural session of the 16th International Energy Forum Ministerial Meeting in New Delhi.


NEW DELHI, APRIL 11 : The Prime Minister Mr Narendra Modi on Wednesday inaugurated the 16th International Energy Forum Ministerial Meeting.
Addressing the gathering of Energy Ministers from 42 producing and consuming nations, Heads of International Organisations and industry leaders, the Prime Minister said India will be the key driver of global energy demand in the next twenty-five years as its energy consumption will grow by four point two percent a year for the next twenty-five years. This is fastest among major world economies.

He also highlighted the transition in energy supply and consumption patterns around the world in recent times and the need for global cooperation in creating conditions for the world to grow as a whole.

The Prime Minister emphasised on the need for responsible pricing and transparent & flexible markets to ensure growth for both producers and consumers.

He shared his vision for India's energy future– energy access, energy efficiency, energy sustainability and energy security and also reiterated India's commitment to combating climate change, curbing emissions and ensuring a sustainable future.
He also shared the recent efforts of the Government of India to revamp up-stream and downstream policies, shift to latest technology and bring competitiveness in the sector.

The Minister for Petroleum and Natural Gas & Skill Development and Entrepreneurship Mr Dharmendra Pradhan, in his speech, reiterated the need for synergy between producer and consumer countries to achieve sustainable development & broadening the prospect for inclusive growth. India being the 3rd largest energy consumer in the world, the need for improved producer-consumer cooperation to foster energy efficiency and productivity gains in energy supply chains was critical and would certainly help in further enhancing the global engagement of India in the energy domain.

The first day of the 16th IEF Ministerial Meeting saw discussions on issues ranging from the future of global energy security to sustainable and inclusive energy access; affordability.

It also witnessed the signing of an MoU between the Indian consortium consisting of IOCL, HPCL and BPCL and Saudi Aramco for Ratnagiri Mega Refinery in Maharashtra.
The strategic partnership will bring together crude supply, resources, technologies, experience and expertise of these multiple oil companies, with an established commercial presence around the world. This project, with an estimated investment of over Rs 3 lakh crores, will bring huge benefits to the region, in terms of large scale employment generation, direct and indirect as well as all round economic development.

On the sidelines of the event the Minister for Petroleum and Natural Gas & Skill Development and Entrepreneurship, held bilateral meetings with visiting Ministers and discussed issues of mutual interest in the oil and gas sector.

Dharmendra Pradhan fags Off ONGC's
KG-DWN-98/2 East Coast Project

Thesynergyonline Corporate Bureau

Mr Dharmendra Pradhan flags off ONGC's prolific east coast project of KG-DWN-98/2 by spudding its first well #KDG-A. He was accompanied by Mr. Amar Nath-Joint Secretary, Mr Satyajit Mohanti-Director MoPNG, Mr. Shashi Shanker, CMD ONGC and Mr. Rajesh Kakkar, Director Offshore- ONGC.  

NEW DELHI, PRILLLLLL 08 :
Mr Dharmendra Pradhan, Minister of Petroleum & Natural Gas and Skill Development & Entrepreneurship on Sunday flagged off ONGC's prolific east coast project of KG-DWN-98/2by spudding its first well #KDG-A.

The Minister spudded the well from the drillship Platinum Explorer 35km off the Andhra Pradesh coast in the Bay of Bengal. The Minister was accompanied by Joint Secretary Mr. Amar Nath, Director MoPNG Mr Satyajit Mohanti, ONGC CMD Mr. Shashi Shanker and ONGC Director Offshore Mr. Rajesh Kakkar.

Mr Dharmendra Pradhan flags off ONGC's prolific east coast project of KG-DWN-98/2 by spudding its first well #KDG-A. He was accompanied by Mr. Amar Nath-Joint Secretary, Mr Satyajit Mohanti-Director MoPNG, Mr. Shashi Shanker, CMD ONGC and Mr. Rajesh Kakkar, Director Offshore- ONGC.

The well #KDG-A is one of the 34 wells planned under this mega project. The deepwater well has a target depth of 2346 meters, under a water depth of 518 meters. The well is expected to produce around 5000 barrels of oil per day (bopd) when put to production.

This ambitious project of ONGC is going to be a major contributor towards the Hon'ble Prime Minister's target to reduce nation's hydrocarbon import dependence by 10 per cent by 2022. The project would cumulatively produce around 25 MMT of oil and 45 BCM of gas with peak production of 78000 barrels per day of oil and 15 MMSCMD of gas. ONGC expects to bring first gas from this project to market by 2019 end and oil by 2020.

Wishing ONGC successful completion of the project KG DWN 98/2 in east coast Mr Dharmendra Pradhan emphasized that best-in-class project management will ensure achievement of the targets within time. He also emphasized the Union Govt's strong commitment towards Andhra Pradesh, which is emerging as a major oil and gas hub of India. "It is our endeavour to make these major investments in oil and gas sector bring prosperity to the people of Andhra Pradesh", he said.

Mri Pradhan also said that oil sector projects like ONGC's 98/2, would generate large employment opportunities and leverage local services & materials wherever possible as per the 'Make in India' policy.

Mr Dharmendra Pradhan on Drill Ship Platinum Explorer with Joint Secretary Mr. Amar Nath, Director MoPNG Mr Satyajit Mohanti, ONGC CMD Mr. Shashi Shanker and ONGC Director Offshore Mr. Rajesh Kakkar and other ONGCians.

The project KG DWN 98/2 involves some of the most advanced oil field technologies in drilling and completion of 34 subsea wells, laying about 425km of pipeline and 150KM of control umbilical in water depths varying from 300 to 1400 meters. There will be an Offshore Process Platform for processing & evacuating 6.5mmscmd of gas.

Balance 5.75 mmscmd gas shall be transported through ONGC's existing sub-sea infrastructure and facilities created at onshore terminal of Odalarevu in Andhra coast. Floating Production, Storage and Offloading Vessel( FPSO) will also be deployed in water depth of 413 meters to process the oil and gas.

The project envisages an capacity expenditure of of 5.07 Billion US Dollars and OPEX of 5.12 Billion US dollars over field life of 16 years.

L&T Hydrocarbon Engineering award for three gas production deck modules by Saudi Aramco
Thesynergyonline Corporate Bureau

NEW DELHI, APRIL 05 :
L&T Hydrocarbon Engineering (LTHE), wholly- owned subsidiary of Engineering and Construction major Larsen & Toubro announced an award for three gas production deck modules by Saudi Aramco. This is the fourth award for the consortium of LTHE with Subsea 7. There are three offshore contracts currently under execution by the Consortium for Saudi Aramco under the long-term agreement.

The project

The project consists of engineering, procurement, fabrication, transportation, installation and commissioning of three gas production decks with a high integrity protection systems and exotic materials that will protect the plant for a life of fifty years and more. Two of the decks will be installed in Hasbah and one in Arabiyah field of Saudi Aramco.

 

 

The significant award validates Aramco's confidence in selecting LTHE's offering for performance in fast-track implementation of complex offshore projects. LTHE has three fabrication yards and this project will be built at its flagship facility at Hazira, establishing a strong track-record to "design and build" offshore oil & gas projects.

Over the past three decades, LTHE has served the offshore oil & gas industry with consistent delivery that brings Oil Majors and National Oil Companies to place repeat orders on LTHE for challenging projects.

 

Rajesh Kakkar takes charge
as Director (Offshore), ONGC


Thesynergyonline Corporate Bureau


NEW DELHI, FEBRUARY 19 :
Mr Rajesh Kakkar has taken over charge of Director (Offshore) of Oil and Natural Gas Corporation (ONGC) today. As Director (Offshore), he will look after oil and gas production from ONGC’s offshore fields that contribute 70% and 78% of ONGC’s domestic crude oil and gas production respectively.

Mr Kakkar has more than three and a half decades of experience in the various aspects of operations and management in both offshore and onshore fields.

Mr Kakkar played a key role in reversing the production trend at Western Offshore in 2015. He has been pioneer of “field-life-cycle maximization” to enhance production from the ageing fields. Through many brownfield as well as marginal field development, he has ensured incremental production of oil and gas.

He has held key positions in various high-level committees and task forces concerning oil & gas development projects. He played a pivotal role in ensuring health safety and environment as far as the offshore operations are concerned.

Mr Kakkar is well-known for his people management and interpersonal skills to foster team approach to the operations.

Mr Kakkar holds a Bachelors degree in Mechanical Engineering with Honors from Ravi Shankar University, Raipur. He completed Global Managers’ program at IIM, Kolkata and Leadership Development Program at IIM, Bangaluru. He was recognized as the “Young Executive of the Year” in 1991 and also received Chairman’s award in 1992 for “Consistent Performance in Offshore Production Operations”.

 

ONGC led Indian Consortium to acquire 10% stake
in Lower Zakum Concession, Offshore Abu Dhabi

Thesynergyonline Corporate Bureau

H H Sheikh Mohamed Bin Zayed and Prime Minister of India
Narendra Modi witnessing signing of historic ADNOC Offshore
Concession Agreement, awarding ONGC-Led Consortium 10%
stake in Lower Zakum Offshore concession for 40 years for
a participation fee of AED 2.2 billion

ONGC led Indian Consortium to acquire 10% Stake in Lower Zakum Concession, Offshore Abu Dhabi
NEW DELHI, FEBRUARY 11: An Indian Consortium led by ONGC Videsh, wholly owned subsidiary and overseas arm of Oil and Natural Gas Corporation Limited (ONGC), BPRL & IOCL signed a pact for acquisition of 10 per cent  participating interest in the ADNOC Group owned offshore Lower Zakum Concession for 40 years from 2018 to 2057. This is the first time that Indian oil & gas companies have been given a stake in the development of Abu Dhabi’s hydrocarbon resources.


The Concession, which has a term of 40 years, was signed by Mr Shashi Shanker, Chairman, ONGC Group of companies and His Excellency Dr Sultan Ahmed Al Jaber, Chief Executive Officer, ADNOC Group and member of Abu Dhabi’s Supreme Petroleum Council, in the presence of Prime Minister of India Mr Narendra Modi and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the United Arab Emirates Armed Forces.
H.H. Sheikh Mohamed Bin Zayed and  PM, Shri Narendra Modi witnessed  signing of historic ADNOC Offshore Concession Agreement, awarding ONGC-Led Consortium 10% stake in Lower Zakum Offshore concession for 40 years for a participation fee of AED 2.2 billion.

 Sixty percent of the participating interest will be retained by ADNOC and the rest will be awarded to other international oil companies. Lower Zakum is one of three separate offshore concession areas that were formerly part of the ADMA offshore concession.

The  Prime Minister Mr Narendra Modi said ,"The ADNOC offshore concession in favor of the Indian consortium has taken our bilateral engagement in the oil and gas sector to a new level, which befits the comprehensive strategic partnership between India and the UAE."

ADNOC Group’s CEO, Dr Sultan Ahmed Al Jaber stated that this strategic partnership with ONGC and other members of the consortium would  help India meet its growing demand for energy and refined products, and create opportunities for ADNOC Group to increase its market share in a key growth market.
Mr Shashi Shanker, CMD, ONGC Group of Companies stated “This agreement with ADNOC Group will bring a plethora of opportunities in the times to come.”

 

ONGC net profit up 15.2 %
q-o- q at Rs 5,015 crore


Thesynergyonline Corporate Bureau

 


NEW DELHI, FEBRUARY 09 : Oil and Natural Gas Corporation (ONGC) registered 15.2 per cent rise in standalone net profit on a year-on-year (y-o-y basis to Rs 5014.67 crore for the quarter ended December (Q3FY'18).

The company's standaloneproduction registered upswing in 9 month period , natural gas up 7.7 per cent ; crude oil up 1.2 per cent and VAP up 4.9 per cent in FY'18 as against the corresponding period in FY'17.

The company notified 10 discoveries so far in FY'18.

The company's gross gross revenue was at Rs 22,996 crore, up 14.9 per cent q-o-q
The company regsistered net profit of Rs 5,015 crore, up by 15.2 per cent q--o-q , the company's statement said.

Revenues from operation rose 14.9 pe rcent on a y-o- y basis to Rs 22,995 crore for the quarter ended December which was slightly higher than the CNBC-TV18 estimate of Rs 22,888 crore.
The company reported revenue from the operation of Rs 20,013 crore in the corresponding quarter of last fiscal and Rs 18,964 crore in the previous quarter.

Earnings before interest, tax, depreciation, and amortisation rose 19.5 percent on a sequential basis to Rs10,919 crore for the quarter ended December 2017, compared to Rs9,136 crore reported in the previous quarter.

 

 

 

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