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ONGC Videsh plans to scale up oil production
Oil and Natural Gas Corporation ONGC Director operations PK Rao has said that ONGC Videsh OVL, a subsidiary of ONGC, is planning to scale up its production to 60,000 Million Metric Tonnes from its existing 14,000 Million Metric Tonnes oil equivalent gas
Rajamahendravaram: Oil and Natural Gas Corporation (ONGC) Director (operations) PK Rao has said that ONGC Videsh (OVL), a subsidiary of ONGC, is planning to scale up its production to 60,000 Million Metric Tonnes from its existing 14,000 Million Metric Tonnes (oil equivalent gas).
Addressing a media conference in the office of ONGC Rajamahendravaram Asset here on Friday, he said the OVL is the growth engine of ONGC and investing its technologies in acquiring new fields abroad.
“This helps to reduce oil imports by 10 per cent as per the vision of Prime Minister Narendra Modi,” he added. OVL is getting as many as 3.30 lakh barrons of oil per day from Vankormet oil field in Russia, he said.
The main business of OVL is to find out gas and oil fields abroad. OVL owns participating interests in 41 oil and gas assets in 20 countries, he averred. ONGC Rajamahendravaram Asset executive director DMR Sekhar and others were present.
