DG Shipping Recalls 27 ONGC Supply Vessels
The Directorate General of Shipping (DG, Shipping) has asked India’s biggest oil explorer Oil and Natural Gas Corporation (ONGC) to recall 27 of its 46 supply ships for undergoing safety audits immediately. The DG Shipping directive, which could lead to the disruption in oil production, has come within days after an ONGC-chartered ship, Samudrika-10, sunk off the Mumbai coast, killing five people on board. In a notice dated July 11 to ONGC, the DG Shipping ordered around 27 OSVs (offshore supply vessels) to be recalled to the base for undergoing safety management tests before resuming duty at Bombay High. ONGC operates 46 offshore supply vessels which help in production and maintenance of India’s largest oil field, Bombay High, situated 160 kilometers north west of Mumbai.
ONGC-Petrobras Make a Deal
According to www.business-standard.com, Oil and Natural Gas Corporation (ONGC) has signed a deal with Brazil’s Petrobras for exchange of stakes in oil blocks in each other’s countries. ONGC will reportedly offer Petroleo Brasileiro SA (Petrobras) stake in its deepwater oil and gas block in the Krishna-Godavari basin, in which it discovered gas reserves estimated at 5-15 trillion cubic feet. In return, Petrobras – according to the report – will offer ONGC Videsh Ltd (OVL) stake in oil blocks in Brazil.
Hindujas to Buy LNG from ONGC
Oil & Natural Gas Corporation Ltd (ONGC) and Hinduja Group signed a Memoranda of Understanding to form Joint Ventures to pursue global opportunities in Liquefied Natural Gas (LNG) and linked E&P business. The collaboration will leverage the E&P expertise of ONGC and the business-relationship advantage of the Hinduja Group in the hydrocarbon-rich Middle East, with business prospectivity benefits to both entities. The Memorandum of Understanding (MoU) between the company and Ashok Leyland Project Services (ALPS) provides for sourcing of Liquefied Natural Gas (LNG) at competitive terms, to be facilitated by ALPS. Pursuant to such sourcing…
ONGC Hunts for New Offshore Ships
Oil and Natural Gas Corporation (ONGC), has initiated negotiations with shipping companies to keep oil from its Bombay High oil fields flowing after the Directorate General of Shipping recalled its 27 offshore supply vessels for safety reasons. The top management of ONGC, led by its Chairman R S Sharma, flew to Mumbai to meet top Shipping Corporation of India (SCI) officials to procure offshore supply vessels (OSVs) urgently for deploying into the fields situated 160 km off the Mumbai coast in the high seas. SCI takes care of operations and management of 22 vessels of ONGC (16 OSVs and 6 specialised vessels). But the maintenance is outsourced to third parties. ONGC is unlikely to get more than 15 vessels from the open market at this point of time, industry sources said.
Rosneft and ONGC Videsh sign MOU
Rosneft and ONGC Videsh Limited signed a Memorandum of Understanding (MOU) yesterday for cooperation in exploration, appraisal and hydrocarbon producton on the continental shelf of the Russian Federation Igor Sechin, President and Chairman of the Management Board, Rosneft and Dinesh Kumar Sarraf, Chairman of the Board of Directors, ONGC Videsh Ltd and Chairman & Managing Director, ONGC signed a Memorandum of Understanding at the St. Petersburg International Economic Forum, in the presence of Mr. Vladimir Putin, President of the Russian Federation. The Memorandum paves the way for the companies’ cooperation in subsurface surveys, exploration and appraisal activities and hydrocarbons production in Russia’s offshore Arctic.
ONGC’s Sees High Profits
Oil and Natural Gas Corp. (ONGC), ONGC Videsh Ltd (OVL) and MRPL reported a 9-percent rise in profit for the year ended March 2006 despite slipping on crude oil production targets & price control with high global crude rates being a major stimuli in boosting the profits. A plan of investing in the refining business over the next 4-5 years was also announced by the ONGC group, which currently has a 13 million tonne per annum (mtpa) of refining capacity and plans to scale it up to 45.5 mtpa by 2009-10. ONGC’s foreign arm, OVL also posted a 22 per cent increase in its net profit. With 10 acquisitions, OVL currently has 21 properties in 12 countries and has become India’s biggest transnational company. (Source: Live Punjab)
ONGC Ready to Spend $15B on Acquisitions
Oil and Natural Gas Corp Ltd will invest $3 billion next year to raise domestic production and is ready to spend $15 billion on overseas acquisitions to feed India’s energy needs. State-run ONGC, which produces more than 80 percent of India’s oil, plans to boost domestic output by about 12 percent to 30 million tons by 2009/10 through new exploration and improving yields from existing fields. ONGC, which is eyeing oil fields in Kazakhstan and Nigeria, had been investing $1 billion every year in its overseas operations in the last five years. ONGC has also lined up big-budget investments in oil retailing, power and petrochemicals, despite pressure from India’s oil ministry not to venture into non-core sectors.
SCI, ONGC to Form Offshore Service
According to reports, Shipping Corporation of India (SCI) and ONGC could be planning a joint venture in the support vessel market. OnShip would be an alliance between ONGC and SCI.
ONGC Seeks to Sell Crude Oil at Market Rate
Oil and Natural Gas Corporation has sought permission from the government to end the discount it offers on crude oil from its offshore assets to domestic state-run refiners. Of ONGC’s 17-million-tonne annual crude output from various offshore fields, it supplies 13 million tonne to Indian Oil and its subsidiaries, Hindustan Petroleum Corporation Ltd. and Bharat Petroleum Corporation. ONGC sells crude to state run refiners at $2-5 a barrel less than the landed cost of bonny light crude. Meanwhile, ONGC subsidiary Mangalore Refinery and Petrochemicals Ltd. imports crude for processing. (Source: Business Standard)
ONGC to Invest Over $5B in Offshore Gas Finds
Oil and Natural Gas Corp. (ONGC) plans to invest over $5b to produce 25 million standard cubic meters per day (mmscmd) of gas from its eastern offshore Krishna Godavari fields by 2013. The state-run firm submitted to the regulator Director General of Hydrocarbons an appraisal program of the discoveries it had made in KG offshore basin, putting the in-place reserves at 6.37 Trillion cubic feet (Tcf), industry sources said. Besides natural gas, ONGC also plans to produce 8,000 barrels of oil per day from the fields. The reserve estimates and production plan in ONGC's appraisal program, however, do not include its ultra-deepwater UD-1 discovery in KG-DWN-98/2 block adjacent to Reliance Industries' prolific gas discovery block KG-D6.
ONGC, SCI Enter MoU
Oil & Natural Gas Corporation Ltd. (ONGC) and Shipping Corporation of Indian (SCI) have entered into a memorandum of understanding (MoU) for setting up a joint venture company called Offshore Marine Services Ltd (OMSL). The joint venture company will provide end-to-end solutions for vessel operations for ONGC and other oil and gas companies. It will also develop capabilities for acquisition, repair and maintenance of offshore floating units and undertake repair and construction on long-term arrangement with shipyard facilities on preferential terms and competitive basis. ONGC will give its vessels on bare boat charter agreement to the joint venture and will retain right of first refusal on deployment of these vessels as per requirement.
JNPT Liquid Cargo Terminal Handles Highest Crude Oil
Jawaharlal Nehru Port Trust (JNPT), India’s number one container port, created a major record on November 16, 2016, by loading 80,640 MT of ONGC crude oil on a large vessel ‘MT Desh Bhakta’, which was berthed at LB-01 of BPCL-run Liquid Cargo Terminal. This is the highest quantity of crude oil loaded on a vessel at JNPT which has surpassed the previous highest of 80,489 MT loaded on Tanker vessel ‘MT Ratna Urvi’ in June 2012. ONGC’s crude oil tanker MT Desh Bhakta, which measures LoA of 244.2 meters…
ONGC to Finalize Shipbuilding Contract
According to a June 25 report on livemint.com, India’s biggest oil exploration company, the state-owned Oil and Natural Gas Corp. Ltd (ONGC), is expected to name within a week the winner of a tender to build 12 ships that will support its oil drilling operations. It was reported that Pipavav Shipyard Ltd, India’s newest private sector shipbuilder, has submitted the lowest bid. However, the winner will not be named ahead of a formal announcement by ONGC. (Source: livemint.com)
ONGC Awards Offshore Order to L&T
Oil & Natural Gas Corporation (ONGC) has awarded a project order with Larsen & Toubro Ltd (L&T) for the NQ re-construction (NQRC) Project in Mumbai High North fields, according to Domain-b. According to the report, this project is the largest brownfield project of its kind awarded in the offshore oil and gas sector in India. The NQ Complex, one of the oldest assets owned by ONGC, has been operational since 1985. The project comprises reconstruction of offshore facilities at the NQ Complex including the replacement of the existing booster compressor with a new process gas compressor module, revamp of produced water conditioning system, hot oil system, gas dehydration unit and other utilities.
ONGC Hunts for Partners
Flagship explorer Oil and Natural Gas Corporation (ONGC) could be looking at roping in other shipping companies for a joint venture to manage offshore support operations as its talks with state-owned Shipping Corporation of India (SCI) has hit choppy waters over valuation of its vessels for the purpose of transferring them to the proposed joint venture. Public sector company ONGC has been discussing the formation of a joint venture, proposed to be christened ONShip, with Shipping Corporation of India for forming a joint venture to help it outsource peripheral support services that require operating various kinds of vessels for its operations. Though executives from both companies deny any deadlock, saying talks are going on, sources say, differences remain on the valuation issue.
ONGC bags Dun & Bradstreet Corporate Excellence Award - 2014
ONGC was honored with the prestigious corporate award – ‘The Dun & Brandstreet Corporate Excellence Award’ for its stellar management and leadership on May 28,2014. ONGC received the award for excellence in the Oil and Gas Production sector. Mr A K Jain, Executive Director, Chief- Offshore Engineering Services, received the award on the behalf of the organization. In all, there were 46 sectors which were recognized for their excellence and these were chosen among the top 500 companies of India, by the primary yardstick of their contribution to India’s GDP.
Indian Oil Seeks Arctic Drilling Team-up
Indian oil intends to team up with Russia's Rosneft for oil exploration in the Barents & Kara Seas. ONGC, one of the largest oil and gas companies in Asia, has formally addressed Rosneft with a partnership offer in one of the latter’s Arctic hydrocarbon projects. In a letter, the ONGC says it would like to team up with Rosneft in one of its international partnerships recently concluded in the Barents Sea and the Kara Sea. The Indian company primarily wants the Russian state company to reduce its 67 percent stake in the projects with respectively ExxonMobil…
ONGC Looks to Buy Out Shell Hazira
Oil and Natural Gas Corporation (ONGC) will soon make an offer for a complete buyout of the Hazira LNG terminal of Royal Dutchhell, according to a Business Standard report. Unlike Hindustan Petroleum Corporation , which is interested in picking up 26 percent equity in Shell Hazira, ONGC is mulling a total buyout of the LNG import and regasification terminal. Shell Hazira is finding it difficult to market LNG in India at the prevailing global prices. Its sole customer, Gujarat State Petronet Corporation, lifts LNG when there is demand from the customers in the state. In the absence of long-term supply agreements with Indian consumers, Shell Hazira picks up floating cargoes of LNG and brings the same to the Hazira terminal for sale at prevailing global LNG prices.
Indian Board to Review Offshore Vessel Deal
The Oil & Natural Gas Corporation (ONGC) Board is expected to take up a proposal to place orders with the Netherland's IHC Offshore & Marine BV for a well stimulation vessel for about $244 million against the company's budget estimate of $150 million. The reservations over the contract stem from the fact that IHC Offshore & Marine was the only bidder that was technically qualified and it quoted a price of $254 million for the vessel, or nearly 70% higher than ONGC's estimate, reports 'The Times of India'. Sources indicated to the newspaper that the proposal may not find an easy passage in the board, with a section of the management holding the opinion that the contract should be retendered to avoid vigilance complaints. Source: The Times of India
ONGC Videsh Wins 3 Exploratiom Blocks in Myanmar
ONGC Videsh Ltd (OVL) has won three offshore exploration blocks in Myanmar. The contracts will be signed between OVL and Myanmar Oil and Gas Enterprise, a Government of Myanmar enterprise. The company succeeded in acquiring 100 per cent participating interests in these three deepwater blocks AD-2, AD-3 and AD-9 in Myanmar offshore. Currently, the total oil and gas production of Myanmar is about 10,000 barrel oil per day (bpd) and 820 million standard cubic feet per day (MMSCFD), respectively. The total oil and gas reserves are estimated at 50 million barrel and 10 trillion cubic feet respectively. Myanmar Oil and Gas Enterprise produces about 10,000 bpd and 120 MMSCFD gas from onshore oil and gas fields. [Source: The Hindu Businessline]
Wärtsilä Ship Design Contract for 12 Vessels
Wärtsilä, ship power system integrator, has signed a ship design contract with Pipavav Shipyard of India. The contract calls for a total of 12 Offshore Supply Vessels (OSVs) to be designed by Wärtsilä and built by Pipavav, for delivery to ONGC - Oil and Natural Gas Corporation Ltd, which is the largest oil and gas producer in India. The yard is scheduled to begin production of the first seven vessels in the first quarter of 2010. Wärtsilä's strong track record in producing consistently…
Shell to Boost Deepwater Energy Production in Brazil
Shell, and its partners, are expecting to boost production with two new deepwater projects at Parque das Conchas (BC-10) and the Bijupirá/Salema fields. "Offshore Brazil is a key part of our plans to grow our deepwater portfolio – a key component of our global strategy,” said John Hollowell, Executive Vice President for Deep Water, Shell Upstream Americas. For Parque das Conchas (BC-10), Shell and its partners Petrobras and ONGC, have decided to move forward with Phase 3 of the project, which will include the installation of subsea-infrastructure at the Massa and Argonauta O-South fields. These fields will be tied-back to the Espírito Santo – the floating, production, storage and offloading vessel (FPSO) – that is at the center of the Parque das Conchas development.
Air Lift Bag Contract Awarded to UHS
Mumbai-based Unique Hydrographic Systems (UHS) contracted to supply Seaflex air liftbags to Leighton Welspun. The total value of the project is INR 37,35,066 (approx. US$ 70,000). Seaflex is a specialist in marine air lift buoyancy bags and water load test weights. They provide products for two major areas: Air Lift Bags (ALBs) and Inflatable Buoyancy Units (IBUs) for the recovery of underwater objects and to provide underwater pipeline buoyancy and cable floatation. Leighton…