Oil And Natural Gas Corporation Limited (ONGC) Company profile, features, work, rank

Oil And Natural Gas Corporation Limited (ONGC). headquarters in Dehradun (Uttrakhand) profile, features, work, rank

The Oil and Natural Gas Corporation Limited (ONGC) is an Indian multinational oil and gas company headquarters situated in Dehradun (Uttra Khand).

It is a Public Sector Undertaking of the Government of India. Under the administrative control of the Ministry of Petroleum and Natural Gas.

The company was founded on 14 August 1956 by Government of India which is India’s largest oil and gas exploration.

It is involved in exploring for and exploiting hydrocarbons in 26 sedimentary basins of India and owns and operates over 11000 kilometers of pipelines in the country.

It produces around 77 percent of India's crude oil (equivalent to around 30 of the country’s total diamond) and around 62 percent of its natural gas.

On 31 March 2013, its market capitalization was INR 2.6 trillion (US$48.98 billion), marketing it's India’s second-largest publicly traded company.

It has been ranked 449th in the Fortune Global 500 list of the world’s biggest corporations for the year 2015.

It is ranked 17th among the Top 250 Global Energy Companies by Platts.

Its international subsidiary ONGC Videsh currently has projects in 17 countries.

It has discovered 6 of the 7 commercially producing Indian Basins, in the last 50 years, adding over 7.1 billion tonnes of In-place Oil & Gas volume of hydrocarbons in Indian basins.

ONGC has many matured fields with a current recovery factor of 25–33%.

During, FY 2012–13, ONGC had to share the highest ever under-recovery of INR 494.2 billion (an increase of INR 49.6 million over the previous financial year) towards the under-recoveries of Oil Marketing Companies (IOC, BPCL and HPCL)