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ongc brief history |
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Re: ongc brief history
ONGC (Oil and Natural Gas Commission) was founded in 1956. In 1955, Government of India decided to develop the oil and natural gas resources in the various regions of India as part of the Public Sector development. With this objective, an Oil and Natural Gas Directorate was set up towards the end of 1955, as a subordinate office under the then Ministry of Natural Resources and Scientific Research. The main functions of the Oil and Natural Gas Commission subject to the provisions of the Act, were "to plan, promote, organize and implement programs for development of Petroleum Resources and the production and sale of petroleum and petroleum products produced by it, and to perform such other functions as the Central Government may, from time to time, assign to it ". Since its inception, ONGC has been instrumental in transforming India’s limited upstream sector into a large viable playing field, with its activities spread throughout India and significantly in overseas territories. The Company’s Evolution can be summarized as under: • 1955 – Inception • 1958 – First Oil in Cambay • 1960 – Oil gas discovery in Gujarat • 1963 – Oil in Assam • 1965 – Concept of ONGC Videsh Operations • 1970 – first Offshore well • 1974 – Mumbai High discovered • 1976 – Bassein Gas field of Mumbai High • 1984 – GAIL formed out of ONGC • 1993 – ONGC a limited company • 1993 – Govt of India divest 2% share • 1994 – 2% share to employees • 1999 – Equity swap ONGC, IOC, GAIL • 2003 – Acquired Mangalore Refineries Petrochemicals Ltd from Birla Group • 2003 – Ist equity Oil & gas from Sudan / Vietnam • 2004 – Govt of India divests 10% • 2006 – Diversification – ONGC Petro additives Ltd and ONGC Mangalore Petro Ltd • 2007 – ONGC Energy Centre formed • 2010 – Coal Bed Methane Production • 2013 – Oil at Kazakhstan/Mozambique ONGC had discovered 6 of the 7 Producing basins of India: • 1958 – Cambay, Gujarat • 1967 – Rajasthan • 1973 – Assam • 1974 – Mumbai Offshore • 1980 – Krishna Godavari Basin • 1985 – Cauvery Basin Board of Directors CMD and Functional Directors Shashi Shanker Chairman & Managing Director S Shanker Director (T & FS) D D Misra Director (HR) A K Dwivedi Director (Exploration) V P Mahawar Director (Onshore) Government Nominee Amar Nath Joint Secretary, (Exploration) Rajiv Bansal Additional Secretary & Financial Adviser Independent Director Ajai Malhotra K M Padmanabhan Shireesh B Kedare Deepak Sethi Sumit Bose Vivek Mallya Dr Santrupt Misra Smt. Ganga Murthy Dr. Sambit Patra |
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