ONGC Videsh Company News

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India's ONGC Videsh to Spend Over $3 Billion on Iran Gas Block
Tuesday, April 04, 2017 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.

India Clears ONGC's Extra 11% Stake Buy in Russia's Vankor Fields
Wednesday, October 05, 2016 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%.

ONGC Videsh Inks Deal with Rosneft to Up Stake in Russia's Vankorneft
Thursday, September 15, 2016 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.

OVL Given More Time by Vietnam to Explore Block 128 in South China Sea
Tuesday, August 23, 2016 India's ONGC Videsh (OVL) gets an extension from Vietnam to continue exploration in Block 128 in the South China Sea.

India, Iran Plan to Seal Deal to Develop Offshore Farzad B Field by October
Monday, June 06, 2016 India expects to finalize contract with Iran to develop the Farzad B gas field in the Persian Gulf by October.

Iran, India Sign MoU to Develop Oil, Gas Projects
Monday, April 11, 2016 Iran and India sign a memorandum of understanding to develop oil and gas projects, according to Iranian Petroleum Minister Bijan Zangeneh.

India's Overseas Oil Resource Target Stymied By Crude Collapse
Thursday, January 28, 2016 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.

ONGC Videsh, Equatorial Guinea Govt Sign MoU for Oil, Gas Cooperation
Thursday, January 21, 2016 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.

ONGC Videsh Moves Nearer to Complete Acquisition of Stake in Vankorneft
Monday, December 28, 2015 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.

Indian Oil Corp. to Spend $5B Over Next 5-7 Years to Expand E&P Business
Tuesday, October 13, 2015 Indian Oil Corp. plans to spend $5 billion over the next 5 to 7 years to expand its exploration and production business.

New Govt Policy Induces ONGC to Consider Bids for Marginal Fields in India
Thursday, September 17, 2015 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.

Rosneft Sells 15% Stake in Vankorneft to ONGC Videsh
Friday, September 04, 2015 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.

India ONGC Submits Revised Development Plan for Iran Gas Field
Monday, August 24, 2015 India's ONGC Videsh submits a revised proposal seeking the development rights of Iran's giant gas field Farzad B.

ONGC Videsh Seeks 20-Fold Increase in Spending Allowance for M&A
Thursday, June 18, 2015 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.

ONGC Videsh's FY 2015 Net Profit Falls 57% Due Mainly to Lower Oil Prices
Tuesday, May 26, 2015 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.

Sources: Indian Delegation to Visit Iran to Discuss Oil Deals
Friday, April 17, 2015 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.

ONGC Capitalizes on Lower Oil Field Services Rates for Projects Off India
Monday, April 06, 2015 ONGC capitalizing on lower rates for oil field services to press on with its exploration and production projects offshore India.

New Zealand Offers More Offshore Areas for Bidding in Block Offer 2015
Monday, March 30, 2015 New Zealand offers more offshore exploration areas for bidding in Block Offer 2015.

ONGC Videsh in Talks to Acquire Stakes in 2 Fields in Siberia
Thursday, March 12, 2015 ONGC Videsh commences discussions to acquire stakes in 2 fields in Siberia, Russia, according to India's oil minister.

Chevron, Statoil, ONGC Secure Exploration Permits in NZ's Block Offer 2014
Tuesday, December 09, 2014 New Zealand awards 15 exploration permits as part of Block Offer 2014 to nine companies, including Chevron, Statoil and ONGC Videsh.

ONGC Appoints P K Rao as ONGC Videsh's Operations Director
Thursday, November 06, 2014 ONGC appoints Pasala Krishna Rao as operations director of its upstream subsidiary ONGC Videsh.

India's ONGC Videsh Eyes Stake in Tullow Oil's Africa Assets
Thursday, November 06, 2014 India's ONGC Videsh is looking to buy a stake in the assets of Africa-focused explorer Tullow Oil.

ONGC Videsh, PetroVietnam Ink LOI for Exploration in 2-3 Blocks Off Vietnam
Wednesday, September 17, 2014 ONGC Videsh and PetroVietnam ink a Letter of Intent to consider oil and gas exploration in 2-3 blocks located offshore Vietnam.

ONGC Videsh, YPF Sign MOU to Cooperate in Hydrocarbon Sector
Thursday, September 04, 2014 ONGC Videsh and YPF sign a memorandum of understanding to cooperate in the hydrocarbon sector globally.

ONGC Videsh Signs PSCs for Onshore Blocks B-2, EP-3 in Myanmar
Tuesday, August 12, 2014 ONGC Videsh signs production sharing contracts for onshore blocks B-2 and EP-3 in Myanmar.

ONGC Videsh Raises $2.2B to Refinance its Rovuma Area 1 Acquisitions
Wednesday, July 09, 2014 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.

ONGC, Rosneft Ink MOU to Cooperate on E&P in Russia's Offshore Arctic
Monday, May 26, 2014 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.

India's PESB Selects N K Verma to be ONGV Videsh's New Managing Director
Friday, May 23, 2014 India's Public Enterprises Selection Board selects N K Verma as ONGC Videsh's new managing director.

India ONGC Overseas Arm Aims Higher Oil, Gas Output in 2014/15
Tuesday, May 20, 2014 ONGC Videsh aims to produce 3.6% more oil and gas during the fiscal year to March 2015.

ONGC Appoints Anil Bhandari as Director (Exploration) of OVL
Friday, March 21, 2014 ONGC appoints Anil Bhandari as director (Exploration) of its overseas upstream unit ONGC Videsh.

S.Sudan Seeks Technical Help from Sudan in Oil Fields
Monday, January 13, 2014 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.

Shell Completes Acquisition of Additional 23% Interest in BC-10 Project
Tuesday, December 31, 2013 Shell completes acquisition of an additional 23 percent interest in the Parque das Conchas (BC-10) project offshore Brazil for $1 billion.

Report: Petrovietnam, India's ONGC Videsh Sign Oil Exploration Pact
Thursday, November 21, 2013 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.

OVL Ups Stake in Brazil's Block BC-10, Gets 2 Exploration Blocks in Myanmar
Friday, October 18, 2013 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.

Ministry: Myanmar Awards Contracts for 16 Onshore Blocks
Friday, October 11, 2013 Eni, ONGC Videsh and Petronas are among the winners of contracts for 16 onshore energy blocks in Myanmar, an energy ministry official says.

Novatek Close to Pick Final Yamal LNG Partner – Paper
Thursday, September 26, 2013 Novatek close to picking a third and final partner for its Yamal LNG project.

ONGC Videsh Seeks to Raise its Stake in Block BC-10
Thursday, September 19, 2013 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.

Anadarko Sells 10% Interest in Mozambique Area 1 to ONGC Videsh
Monday, August 26, 2013 Anadarko Petroleum Corporation inks agreement to sell 10 percent stake in Mozambique Offshore Area 1 to ONGC Videsh for $2.64 billion.

India Government Approves ONGC Bid to Buy Stake in Kazakh Oil Field
Monday, May 27, 2013 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.

Hess Closes ACG Stake Sale with ONGC Videsh
Thursday, March 28, 2013 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.

ConocoPhillips to Sell Kazakh Waters Interests; Expects Proceeds of $5B
Monday, November 26, 2012 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.

Hess to Sell Azerbaijan Assets for $1B to ONGC Videsh
Friday, September 07, 2012 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.

ONGC Videsh Plans Up To $20B Investment to Boost Overseas Output
Tuesday, September 04, 2012 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.

Eight Energy Companies Showing Interest in Afghan O&G
Thursday, July 05, 2012 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.

India Says ONGC Videsh Will Return South China Sea Block
Tuesday, May 15, 2012 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.

ONGC Videsh Takes Stake in Kazakh Block
Thursday, October 13, 2011 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.

ONGC Videsh Pens Pact with PetroVietnam
Wednesday, October 12, 2011 The agreement is intended for developing long term cooperation in oil and gas industry and shall be in force and effect for three years.

ONGC Videsh Achieves Its Highest Overseas O&G Production
Thursday, April 22, 2010 OVL has achieved its highest ever oil & gas production from its overseas assets, setting a milestone in its quest for oil and gas acreage abroad.

Syria Puts 8 Onshore Blocks on the Table
Monday, April 05, 2010 Syria has invited international oil companies to explore, develop and produce hydrocarbon from eight blocks, the Syrian ministry of petroleum and mineral resources said in an announcement Monday.

ExxonMobil May Join Oil Search in KG Basin
Friday, April 02, 2010 ExxonMobil is reportedly keen to join ONGC's search for oil and gas in India's Krishna-Godavari basin.