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ONGC oil and gas exploration summary

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28 September 2018

ONGC oil and gas exploration summary

Report summary

ONGC has bucked the industry trend of reduced investment as oil prices collapsed, choosing instead to pursue growth. The domestic profile has been upheld by continued Enhanced Oil Recovery (EOR) investment, deepwater gas developments and acquisitions. Internationally, resource capture in Russia and the Middle East has helped raise output and build strategic alliances. However, its approach to organic international exploration has lacked both focus and scale, and has seen ONGC lose ground to its Chinese peers. International exploration has yet to deliver material discoveries and growth has typically relied on acquisitions. The company’s international portfolio is thinly spread, yet the company continues to have the financial strength to take advantage of the M&A market, as both Majors and Large Caps high-grade portfolios.

Table of contents

  • Executive summary
    • Upstream strategy
    • Exploration strategy
    • Other ONGC research
    • Evolution of exploration strategy
  • Investment and costs
    • Well data
  • Reserves and resources
  • Production
    • Deepwater India's diminishing importance
    • Sudan drives development value
    • International exploration has disappointed

Tables and charts

This report includes 23 images and tables including:

  • Executive summary: Image 1
  • Ten year performance summary
  • Exploration & appraisal spend and reinvestment
  • Exploration & appraisal spend by water depth
  • Exploration & appraisal spend by basin maturity
  • Discovery costs by water depth
  • Top 40 discoveries (2008 to 2017)
  • Volumes discovered by year
  • Volumes discovered by water depth
  • Volumes discovered by country
  • Volumes discovered by basin
  • Volumes discovered by country - excluding India
  • Volumes discovered by basin - excluding India
  • Production: Image 1
  • Full-cycle economics
  • SWOT Grid
  • Net active exploration acreage by water depth
  • Net active exploration acreage by country
  • Gross conventional exploration & appraisal by basin and sector
  • Exploration wells drilled and spend per well
  • Exploration success rates
  • Full cycle value creation by year
  • Costs and development value by resource category

What's included

This report contains:

  • Document

    ONGC oil and gas exploration summary

    PDF 1.02 MB

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