MINISTER IN THE MINISTRY OF PETROLEUM & NATURAL GAS
(SHRI DHARMENDRA PRADHAN)
(a) Since inception ONGC has acquired 10,81,144 Line Kilometre of 2D, 2,81,245 Square
Kilometre of 3D seismic data and drilled 6549 exploratory wells. It has notified 628
hydrocarbon discoveries and established, 8150.16 MMtoe In-Place hydrocarbon volume
and 2939.78 MMtoe (2P) of Estimated Ultimate Recovery.
ONGC’s profit after tax for the year 2019-2020 was Rs 13,445 crore.
(b) ONGC being one of the major producer of Oil and Gas, plays a very important role
towards the goal of reducing import dependency. Increasing production of Oil and Gas is
one of the important pillars in reduction of import of Oil and Gas for the country.
Production of Crude oil by ONGC in the last three years is as below:
Year Crude Oil Production (MMT)
2017-18 22.305
2018-19 21.111
2019-20 20.714
(c) The Government in February, 2019 approved major reforms in exploration and
licensing policy to enhance exploration activities, attract domestic and foreign investment
in unexplored/unallocated areas of sedimentary basins and accelerate domestic
production of oil and gas from existing fields.
Various long term and short term policy initiatives taken by Government and steps taken
by ONGC to increase production of domestic oil and gas are given below:-
1. Long Term Initiatives
i. Policy for Relaxations, Extensions and Clarifications under Production Sharing
Contract (PSC) regime for early monetization of hydrocarbon discoveries,
2014.
ii. Discovered Small Field Policy, 2015.
iii. Hydrocarbon Exploration and Licensing Policy, 2016.
iv. Policy for Extension of Production Sharing Contracts, 2016 and 2017.
v. Policy for early monetization of Coal Bed Methane 2017
vi. Setting up of National Data Repository, 2017.
vii. Appraisal of Unappraised areas in Sedimentary Basins 2017
viii. Re-assessment of Hydrocarbon Resources 2017
ix. Policy framework to streamline the working of Production Sharing Contracts in
Pre-NELP and NELP Blocks, 2018.
x. Policy to Promote and Incentivize Enhanced Recovery Methods for Oil and
Gas, 2018.
xi. Policy framework for exploration and exploitation of Unconventional
Hydrocarbons under existing Production Sharing Contracts, Coal Bed Methane
contracts and Nomination fields, 2018.
xii. Policy framework for Exploration and exploitation of Coal Bed Methane (CBM)
from areas under Coal Mining Lease allotted to Coal India Limited (CIL) and its
subsidiaries 2018
xiii. Reforms in Hydrocarbon Exploration and Licensing Policy for enhancing
domestic exploration and production of oil and gas 2019
2. Short term initiatives
i. Early Monetization of Existing Discoveries.
ii. Improving Recovery Factor through implementation of IOR and EOR
techniques.
iii. Revival of sick wells.
iv. Infill Drilling of wells.
v. Renewal of Facilities and other infrastructure.
vi. Monetization of small and marginal discoveries in onshore through service
contract and outsourcing.
vii. Redevelopment of existing matured fields and development of new
fields/marginal fields.
viii. Induction of suitable technologies on selective fields
(d) ONGC Videsh Limited has acquired three projects during the last three years and
current year. Status of these projects and profit earned is given as under:
S.no
.
Name of Asset Date of
Acquisition
Type of Assets Status
1. PEL 0037,
Namibia
03.10.2017 Exploratory ONGC exited from this project
w.e.f 23.03.2020 due to no
exploration success.
2. Lower Zakum
Concession, UAE
09.03.2018 Producing block Received 44 Million USD as
dividend.
3. Block 32, Israel 27.03.2018 Exploratory
block
Not economically viable. Notice
for relinquishment served.
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