ONGC Videsh Limited


ONGC Videsh Limited is an Indian oil and gas exploration and production company. It is a wholly-owned subsidiary of the state-owned Oil and Natural Gas Corporation, operating under the ownership of the Government of India and the administrative control of the Ministry of Petroleum and Natural Gas. The company holds participating interests in hydrocarbon assets outside India.

History

ONGC Videsh was established as a subsidiary of ONGC to manage international exploration and production activities. It was re-named from Hydrocarbons India Private Limited on 15 June 1989. As of 2024, ONGC Videsh held participating interests in oil and gas assets across 15 countries.
On 10 January 2024, the company incorporated a wholly owned subsidiary, OVL Overseas IFSC Ltd, at Gujarat International Finance Tec-City. The subsidiary was established to manage treasury-related activities for ONGC Videsh and its subsidiaries operating in multiple countries. ONGC Videsh holds participating interests in 32 oil and gas assets across 15 countries and is the second-largest Indian petroleum company by overseas reserves and production, after its parent company, Oil and Natural Gas Corporation. On 11 September 2024, the company signed a memorandum of understanding with Oil India Limited, Khanij Bidesh India Limited, and UAE-based International Resources Holding RSC Ltd. to cooperate on projects related to the critical minerals supply chain.
On 30 November 2024, the company acquired an additional 0.615% participating interest in the Azeri-Chirag-Gunashli field and 0.737% share in the BTC pipeline from Equinor for about USD 60 million.

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