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Oil & Natural Gas Corporation (ONGC) |
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THE Oil & Natural Gas Corporation (ONGC) is among the best-managed and most efficient public sector enterprises in India. It leads India's efforts to develop its Petroleum resources is the ONGC. Established in 1956, as the Oil & Natural Gas Commission, ONGC acquired a new corporate identity on February 1st 1994 to become the Oil & Natural Gas Corporation. ONGC has its operations spread all over the country, both Onland and Offshore. Exploration to extraction, it has its expertise in diverse facets of the Petroleum Industry including Technical and Consultancy services. Powered by highly trained and motivated workforce of around 43,000, ONGC has contributed around 5500 million barrels of Oil and Oil equivalent (boe) of Gas to the Petroleum Industry of India and today produces one million boe per day. ONGC is now a major player in the nation's corporate arena with a commendable turnover of around US $ 3700 million and an annual net profit of around US $ 570 million with accumulated capital employed of around US $ 7100 million. Positioned at the very nucleus of India's economic pulse, ONGC has a corporate mission that envisages development of hydrocarbons in an environment friendly manner. Its objectives aim at self reliance in technology and a holistic perspective on energy, for the nation's progress. The new identity as a corporation not only helps ONGC mobilize resources from the capital markets but also offers greater flexibility in conducting its business. EXPLORATION |