GOVERNMENT OF INDIA

MINISTRY OF PETROLEUM AND NATURAL GAS 

LOK SABHA

UNSTARRED QUESTION NO: 1447

ANSWERED ON: 13.12.2013

INVESTMENT BY ONGC IN FOREIGN COUNTRIES 

(a) the total capital investment made by the Oil and Natural Gas Corporation (ONGC) in foreign countries and the profits earned therefrom during the last three years and the current year, year-wise; and 

(b) the details of steps being taen or proposed to be taen by the ONGC for investing more capital in foreign countries?

ANSWER

(a). Total Capital Investments of ONGC Videsh Ltd. (OVL) as on 30th September, 2013 was approximately Rs. 77,998 crore. Profit After Tax (PAT) during the last four years are as under: Financial Year  Rs.(Crore) 2012-13   3,929 2011-12   2,721 2010-11   2,691 2009-10   2,090     

(b). OVL is aggressively pursuing investment opportunities in overseas oil and gas blocs with the objective of owning euity oil to reduce import dependence and contribute towards the larger objective of energy security for the country. With this objective, ONGC group has formulated an ambitious Perspective Plan 2030 which draws a road map to increase the annual production of OVL to 20 MMTOE by financial year 2017-18 and 0 MMTOE by financial year 2029-30.