ONGC Videsh to increase production in Brazil

October 12th, 2009 NEW DELHI - State-run Oil and Natural Gas Corp (ONGC) has bagged 13 blocks in the latest round of auction of hydrocarbon assets, which saw only about half of the oil blocks receiving bids. If ONGC is getting those blocks, then they should find resources to meet their commitments, said Petroleum Secretary R.S.

October 1st, 2009 NEW DELHI - The overseas investment arm of state-run Oil and Natural Gas Corp (ONGC) has secured the government's nod for an additional investment of $149.46 million in a gas block in Vietnam, as part of India's quest for energy security. The permission was given by the Cabinet Committee on Economic Affairs during a meeting here Thursday presided over by Prime Minister Manmohan Singh, officials said.

August 3rd, 2009 MUMBAI - Construction and engineering major Larsen and Toubro (L&T), Monday said it has bagged two offshore contracts from upstream major Oil and Natural Gas Corp (ONGC) worth Rs.5,300 crore ($1.18 billion). The projects have to be completed within 33 months, the company said in a regulatory statement.

July 27th, 2009 NEW DELHI - ONGC Videsh Ltd (OVL), the overseas arm of Oil and Natural Gas Corp (ONGC), has submitted a proposal to Iranian authorities for developing a gas field in that country, the government said Monday. Petroleum and Natural Gas Minister Murli Deora told parliament that the oil giant had submitted the master development plan for the Farzad-B gas field to the Iranian Offshore Oil Co.

July 13th, 2009 NEW DELHI - The state-run Oil and Natural Gas Corp. Ltd will invest $730 million in a Cairn India block in Rajasthan, despite expecting negative returns, Petroleum Minister Murli Deora said Monday.

July 5th, 2009 ASTANA - Kazakhstan has resolved its issues with steel magnate Lakshmi N. Mittal and with India's largest oil explorer ONGC Videsh and the "situation is coming to a successful end", a top diplomat has said, adding that the country supported India's aspirations for a greater role in an expanded UN Security Council.

March 26th, 2009 NEW DELHI - Government-run oil producer Oil and Natural Gas Corp Thursday conceded that this quarter's production may drop on account of the recent employees' strike. Speaking to reporters on the sidelines of an industry conference, ONGC chairman R.S.

March 26th, 2009 NEW DELHI - The state-run Oil and Natural Gas Corp (ONGC) has postponed its investments in its biggest acquisition, Imperial Energy, and will consolidate operations in western Siberia, the top company official said here Thursday. 'We have decided to do analytical and consolidation studies rather than investing more in raising output,' ONGC chairman and managing director R.S.

February 6th, 2009 AHMEDABAD - The state-run oil producer Oil and Natural Gas Corp (ONGC) has discovered two new oil wells in Patan district in Gujarat, which have estimated oil reserves of over one million tonnes, an official said here Saturday. The oil find was made at a crucial time as the upstream major's Mehsana production unit in the state was witnessing fall in output, said the official, who did not want to be identified.

January 27th, 2009 NEW DELHI - State-run Oil and Natural Gas Corp (ONGC) Wednesday reported a 43 percent dip in net profit in the quarter ended Dec 31, but expressed hope that the fourth quarter performance will be better as there would not be any further subsidy burden. The company's net profit for the third quarter fell to Rs.24.75 billion (Rs.2,475 crore/$506 million) from Rs.43.7 billion a year ago.

January 23rd, 2009 NEW DELHI - India's ONGC and its partner Lakshmi N. Mittal Saturday signed an agreement with Kazakhstan's national oil company for a stake in a block in the Caspian oil fields of the Central Asian country.

January 13th, 2009 NEW DELHI - India and Syria Wednesday signed an agreement paving the way for ONGC Videsh, the foreign arm of upstream major Oil and Natural Gas Corp, to explore for oil and natural gas in Syria. The agreement was signed here by Petroleum Minister Murli Deora and Syrian Minister of Petroleum and Natural Resources Sufian Al Alaw on the sidelines of Petrotech India 2009, an international conference on oil and gas.

January 11th, 2009 NEW DELHI - India's ONGC Videsh may buy a stake of up to 40 percent in an oil block in Kazakhstan, an oil ministry official said Monday. ONGC Videsh, the overseas arm of state-run explorer Oil and Natural Gas Corp., may get a share of 30-40 percent in the Satpayev block in the oil and mineral resources rich Central Asian country, the official official said.

January 11th, 2009 NEW DELHI - Oil and Natural Gas Corp (ONGC) is set to invest over $600 million for the development of assets of Imperial Energy, in addition to its acquisition price of $2.1 billion, said a company official Monday. ONGC acquired Imperial Energy after more than 97 percent of its shareholders had approved the deal last December.

January 5th, 2009 AGARTALA - India's premier hydrocarbons exploration company, Oil and Natural Gas Corp (ONGC), has undertaken a Rs.43.76-billion project in Tripura to boost gas output, the company said here Tuesday. 'The investment proposal has been approved to produce and supply six million cubic metres gas per day from the state's gasfields,' ONGC executive director Biplab Guha told reporters.