ONGC Videsh Company News

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ADNOC Adds Chinese Firm to Offshore Concessions
The above image shows the Umm Shaif concession. PHOTO SOURCE: ADNOC
8:00 PM EST | July 27, 2020
$16B LNG Funding Deal Bucks Slowdown
Total SA's Mozambique LNG project has completed as much as $16 billion in funding.
8:00 PM EST | July 15, 2020
India Tells State Oil Firm ONGC to List Overseas Unit
he Indian government has asked its biggest state-owned firm, Oil and Natural Gas , to list its overseas unit ONGC Videsh, according to a letter seen by Reuters.
8:00 PM EST | August 20, 2018
India's ONGC Videsh to Spend Over $3 Billion on Iran Gas Block
The overseas arm of India's biggest oil and gas explorer intends to spend more than $3 billion on Iran's Farzad-B natural gas block.
8:00 PM EST | April 03, 2017
India Clears ONGC's Extra 11% Stake Buy in Russia's Vankor Fields
India's cabinet approves ONGC Videsh's purchase of an additional interest in Russia's Vankor oilfields from Rosneft for $930 million - raising ONGC's stake in the project to 26%.
8:00 PM EST | October 04, 2016
ONGC Videsh Inks Deal with Rosneft to Up Stake in Russia's Vankorneft
India's ONGC Videsh inks agreement with Rosneft to acquire an additional 11 percent stake in Vankorneft, the operator of the Vankor field and North Vankor license in Russia.
8:00 PM EST | September 14, 2016
OVL Given More Time by Vietnam to Explore Block 128 in South China Sea
India's ONGC Videsh (OVL) gets an extension from Vietnam to continue exploration in Block 128 in the South China Sea.
8:00 PM EST | August 22, 2016
India, Iran Plan to Seal Deal to Develop Offshore Farzad B Field by October
India expects to finalize contract with Iran to develop the Farzad B gas field in the Persian Gulf by October.
8:00 PM EST | June 05, 2016
Iran, India Sign MoU to Develop Oil, Gas Projects
Iran and India sign a memorandum of understanding to develop oil and gas projects, according to Iranian Petroleum Minister Bijan Zangeneh.
8:00 PM EST | April 10, 2016
India's Overseas Oil Resource Target Stymied By Crude Collapse
The chance to gobble up cheap assets after oil's collapse to the lowest in 12 years is slipping out of reach for India's biggest overseas producer.
7:00 PM EST | January 27, 2016
ONGC Videsh, Equatorial Guinea Govt Sign MoU for Oil, Gas Cooperation
India's ONGC Videsh and Equatorial Guinea's Ministry of Mines, Industry and Energy sign a memorandum of understanding to cooperate in the West African country's oil and gas industry.
7:00 PM EST | January 20, 2016
ONGC Videsh Moves Nearer to Complete Acquisition of Stake in Vankorneft
India's ONGC Videsh and Russia's Rosneft complete the first stage of deal for the former's acquisition of a 15 percent stake in Vankorneft.
7:00 PM EST | December 27, 2015
Indian Oil Corp. to Spend $5B Over Next 5-7 Years to Expand E&P Business
Indian Oil Corp. plans to spend $5 billion over the next 5 to 7 years to expand its exploration and production business.
8:00 PM EST | October 12, 2015
New Govt Policy Induces ONGC to Consider Bids for Marginal Fields in India
ONGC to consider bids for marginal oil and gas fields in India after the unveiling of a new government policy that made such developments more viable.
8:00 PM EST | September 16, 2015
Rosneft Sells 15% Stake in Vankorneft to ONGC Videsh
Rosneft sells 15 percent interest in Vankorneft - the developer of Vankor oil and gas condensate field in Krasnoyarsk Territory in Russia - to India's ONGC Videsh.
8:00 PM EST | September 03, 2015
India ONGC Submits Revised Development Plan for Iran Gas Field
India's ONGC Videsh submits a revised proposal seeking the development rights of Iran's giant gas field Farzad B.
8:00 PM EST | August 23, 2015
ONGC Videsh Seeks 20-Fold Increase in Spending Allowance for M&A
ONGC Videsh, the overseas unit of India's biggest oil and gas explorer, is seeking a 20-fold increase in the amount it's allowed to spend on acquisitions without state approval.
8:00 PM EST | June 17, 2015
ONGC Videsh's FY 2015 Net Profit Falls 57% Due Mainly to Lower Oil Prices
ONGC Videsh recorded a 57.16 percent decline in net profit for financial year 2015 that ended March 31 due mainly to lower oil prices.
8:00 PM EST | May 25, 2015
Sources: Indian Delegation to Visit Iran to Discuss Oil Deals
An Indian delegation will visit Iran this week to scout for investment opportunities ahead of an anticipated nuclear deal between the OPEC-member and world powers that would soften sanctions against the country, sources privy to the plan say.
8:00 PM EST | April 16, 2015
ONGC Capitalizes on Lower Oil Field Services Rates for Projects Off India
ONGC capitalizing on lower rates for oil field services to press on with its exploration and production projects offshore India.
8:00 PM EST | April 05, 2015
New Zealand Offers More Offshore Areas for Bidding in Block Offer 2015
New Zealand offers more offshore exploration areas for bidding in Block Offer 2015.
8:00 PM EST | March 29, 2015
ONGC Videsh in Talks to Acquire Stakes in 2 Fields in Siberia
ONGC Videsh commences discussions to acquire stakes in 2 fields in Siberia, Russia, according to India's oil minister.
8:00 PM EST | March 11, 2015
Chevron, Statoil, ONGC Secure Exploration Permits in NZ's Block Offer 2014
New Zealand awards 15 exploration permits as part of Block Offer 2014 to nine companies, including Chevron, Statoil and ONGC Videsh.
7:00 PM EST | December 08, 2014
ONGC Appoints P K Rao as ONGC Videsh's Operations Director
ONGC appoints Pasala Krishna Rao as operations director of its upstream subsidiary ONGC Videsh.
7:00 PM EST | November 05, 2014
India's ONGC Videsh Eyes Stake in Tullow Oil's Africa Assets
India's ONGC Videsh is looking to buy a stake in the assets of Africa-focused explorer Tullow Oil.
7:00 PM EST | November 05, 2014
ONGC Videsh, PetroVietnam Ink LOI for Exploration in 2-3 Blocks Off Vietnam
ONGC Videsh and PetroVietnam ink a Letter of Intent to consider oil and gas exploration in 2-3 blocks located offshore Vietnam.
8:00 PM EST | September 16, 2014
ONGC Videsh, YPF Sign MOU to Cooperate in Hydrocarbon Sector
ONGC Videsh and YPF sign a memorandum of understanding to cooperate in the hydrocarbon sector globally.
8:00 PM EST | September 03, 2014
ONGC Videsh Signs PSCs for Onshore Blocks B-2, EP-3 in Myanmar
ONGC Videsh signs production sharing contracts for onshore blocks B-2 and EP-3 in Myanmar.
8:00 PM EST | August 11, 2014
ONGC Videsh Raises $2.2B to Refinance its Rovuma Area 1 Acquisitions
ONGC Videsh raises $2.2 billion in international capital markets, with the funds intended for use to refinance its acquisitions of 16 percent interest in Rovuma Area 1, offshore Mozambique.
8:00 PM EST | July 08, 2014
ONGC, Rosneft Ink MOU to Cooperate on E&P in Russia's Offshore Arctic
ONGC and Rosneft ink memorandum of understanding to cooperate in subsurface surveys, exploration and appraisal activities as well as hydrocarbons production in Russia's offshore Arctic.
8:00 PM EST | May 25, 2014
India's PESB Selects N K Verma to be ONGV Videsh's New Managing Director
India's Public Enterprises Selection Board selects N K Verma as ONGC Videsh's new managing director.
8:00 PM EST | May 22, 2014
India ONGC Overseas Arm Aims Higher Oil, Gas Output in 2014/15
ONGC Videsh aims to produce 3.6% more oil and gas during the fiscal year to March 2015.
8:00 PM EST | May 19, 2014
ONGC Appoints Anil Bhandari as Director (Exploration) of OVL
ONGC appoints Anil Bhandari as director (Exploration) of its overseas upstream unit ONGC Videsh.
8:00 PM EST | March 20, 2014
S.Sudan Seeks Technical Help from Sudan in Oil Fields
South Sudan has asked Sudan to send engineers to help maintain oil output after many foreign workers left because of fighting between South Sudan government forces and rebels.
7:00 PM EST | January 12, 2014
Shell Completes Acquisition of Additional 23% Interest in BC-10 Project
Shell completes acquisition of an additional 23 percent interest in the Parque das Conchas (BC-10) project offshore Brazil for $1 billion.
7:00 PM EST | December 30, 2013
Report: Petrovietnam, India's ONGC Videsh Sign Oil Exploration Pact
Petrovietnam and the overseas unit of Indian state explorer Oil and Natural Gas Corp have signed a memorandum on joint exploration of crude oil, the Vietnam News Agency reports.
7:00 PM EST | November 20, 2013
OVL Ups Stake in Brazil's Block BC-10, Gets 2 Exploration Blocks in Myanmar
ONGC reports that its upstream subsidiary ONGC Videsh has acquired an additional 12 percent interest in Block BC-10 in Brazil's Campos Basin and was awarded two onshore exploration blocks in Myanmar.
8:00 PM EST | October 17, 2013
Ministry: Myanmar Awards Contracts for 16 Onshore Blocks
Eni, ONGC Videsh and Petronas are among the winners of contracts for 16 onshore energy blocks in Myanmar, an energy ministry official says.
8:00 PM EST | October 10, 2013
Novatek Close to Pick Final Yamal LNG Partner – Paper
Novatek close to picking a third and final partner for its Yamal LNG project.
8:00 PM EST | September 25, 2013
ONGC Videsh Seeks to Raise its Stake in Block BC-10
ONGC Videsh exercises right to acquire part of Petrobras' stake in Block BC-10 in the Campos Basin off Brazil, according to an Indian media report.
8:00 PM EST | September 18, 2013
Anadarko Sells 10% Interest in Mozambique Area 1 to ONGC Videsh
Anadarko Petroleum Corporation inks agreement to sell 10 percent stake in Mozambique Offshore Area 1 to ONGC Videsh for $2.64 billion.
8:00 PM EST | August 25, 2013
India Government Approves ONGC Bid to Buy Stake in Kazakh Oil Field
India's government has allowed state-run ONGC Videsh to buy a minority stake from ConocoPhillips in an oil field in Kazakhstan for $5.5B, a senior ONGC executive says.
8:00 PM EST | May 26, 2013
Hess Closes ACG Stake Sale with ONGC Videsh
Hess completes the sale of its interest in the Azeri, Chirag and Guneshli Fields (ACG) and the associated BTC pipeline to ONGC Videsh Ltd. for $1 billion.
8:00 PM EST | March 27, 2013
ConocoPhillips to Sell Kazakh Waters Interests; Expects Proceeds of $5B
ConocoPhillips unveils plans to sell its interest in Kashagan to ONGC Videsh for proceeds of about $5B, as it continues its effort to divest itself of billions of dollars in assets this year.
7:00 PM EST | November 25, 2012
Hess to Sell Azerbaijan Assets for $1B to ONGC Videsh
Hess agrees to sell some minority stakes it holds in fields in Azerbaijan to ONGC Videsh for $1B, as it works to sell off mature and small working interest assets.
8:00 PM EST | September 06, 2012
ONGC Videsh Plans Up To $20B Investment to Boost Overseas Output
ONGC Videsh said it will need to invest as much as $20 billion to realize its target of a sevenfold increase in O&G output from overseas assets by 2030.
8:00 PM EST | September 03, 2012
Eight Energy Companies Showing Interest in Afghan O&G
Seven energy companies have joined ExxonMobil in expressing interest to bid for the right to explore for O&G in Afghanistan, according to that country's Ministry of Mines.
8:00 PM EST | July 04, 2012
India Says ONGC Videsh Will Return South China Sea Block
ONGC Videsh will return one more deep-water block in the South China Sea to Vietnam because exploration there isn't commercially viable, the Indian govt said.
8:00 PM EST | May 14, 2012
ONGC Videsh Takes Stake in Kazakh Block
ONGC Videsh signed a tripartite agreement with the Ministry of Oil and Gas of Kazakhstan and Kazmunaigaz to give effect to OVL's 25% participating interest in the Satpayev Block in Kazakhstan.
8:00 PM EST | October 12, 2011
ONGC Videsh Pens Pact with PetroVietnam
The agreement is intended for developing long term cooperation in oil and gas industry and shall be in force and effect for three years.
8:00 PM EST | October 11, 2011