ONGC has 6 Times Longer Pipeline than Country’s Longest Highway

Maharatna company ONGC is the largest crude oil and natural gas company in India. It has 3 plants and 13 process complexes across the country including Navi Mumbai. It has a 25 thousand kilometer long pipeline.
ONGC has 6 Times Longer Pipeline than Country’s Longest Highway

A major Fire broke out at the Oil and Natural Gas Corporation (ONGC) plant in Mumbai on Tuesday. The fire took place in the cold storage of the ONGC plant in Navi Mumbai. This is a major setback for ONGC.

Maharatna company ONGC is the largest crude oil and natural gas company in India. It has 3 plants and 13 process complexes across the country including Navi Mumbai. It owns a 25 thousand kilometer long pipeline, which it operates by itself. That is, it has 6.6 times longer pipeline than NH 44 (Srinagar to Kanyakumari), the longest highway in the country.

The total market capitalization of the company is around Rs 1.551 lakh crore. ONGC contributes about 73% of Indian domestic production and produces about 30% of the total requirement of crude oil.

Its subsidiary ONGC Videsh is India's largest international oil and gas company. ONGC 41 in 20 foreign countries – Azerbaijan, Bangladesh, Brazil, Colombia, Iraq, Israel, Iran, Kazakhstan, Libya, Mozambique, Myanmar, Namibia, Russia, South Sudan, Sudan, Syria, United Arab Emirates, Venezuela, Vietnam and New Zealand. Participation in projects.

ONGC has discovered 6 out of 7 oil and gas producing basins in India. The largest company in India has set up 8.70 billion tonnes of hydrocarbon reserves. It has produced 3.2 million metric tonnes (mmt) of crude oil and 645 billion cubic meters (cbm) of natural gas from domestic acreage, oil deposits.

This company has the largest share of hydrocarbon acres in India (61 percent in PEL fields and 81 percent in ML areas). ONGC has about 10 percent of the total Indian processing capacity.

Capital Creation Over 9 lakh crores

The company started six decades ago with an equity capital of Rs 343 crore and since then the company has created assets worth over Rs 9 lakh crore. Oil and Natural Gas Corporation (ONGC) Chairman and Managing Director Shashi Shankar recently told reporters that the company has adopted a new 'Energy Strategy 2040'. With this, the company is moving on a new path to further increase its wealth.

26,715 Crore Profit

The company had a total turnover of Rs 1,09,654 crore and net profit of Rs 26,715 crore for the year ended 31 March 2019. Shashi Shankar said that by 2040, the company's gas production is expected to reach 40 billion cubic meters. It is expected to reach 32 billion cubic meters in the year 2024. The company produced 24.4 million tonnes of crude oil in 2018-19, while it also produced 25.81 billion cubic meters of natural gas in the same year. Apart from this, one crore 1 lakh tonnes of crude oil and 4.7 billion cubic meters of gas were also produced from foreign assets.

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