Company report
| |
18 Pages

ONGC corporate report

ONGC corporate report

Report summary

ONGC continues to pursue growth despite lower oil prices. In contrast to many of its peers, the company has maintained spending and is seeking new international growth opportunities. A portfolio dominated by legacy domestic assets means addressing medium-term portfolio maturity continues to be the primary strategic objective. A range of organic investment initiatives, including renewed efforts in exploration, could improve this outlook. But if ONGC’s ambitious 2030 production target is to be met, further M&A activity will be required. The recent acquisition of a stake in the Vankorskoye field could be the first of several acquisitive moves over the next few years. A strong balance sheet means ONGC is financially well-placed to pursue counter-cyclical expansion. Current financial gearing compares favourably to many competitors and could support up to US$10 billion of acquisitions in the near-term. But financial pressures will grow if low oil prices persist.                              

What's included?

This report includes 3 file(s)

  • ONGC corporate report PDF - 519.92 KB 18 Pages, 6 Tables, 20 Figures
  • ONGC Corporate Report.xls XLS - 3.80 MB
  • ONGC Interim Report.xls XLS - 596.00 KB


The upstream oil and gas industry conducts activities against a backdrop of growing energy and environmental challenges. Political instabilities, international conflicts and government and environmental regulation have all impacted the production process.

This has forced companies to re-examine their corporate strategy, moving away from high-risk exploratory drilling to lower-risk exploration in mature basins as they search for increased returns.

This Upstream Oil and Gas Company report offers thought-provoking insight into corporate financial health, investment strategy and operational outlook supported by our proprietary asset data and energy research experts.

Widely used by both the energy and financial sectors, our report gives you a unique perspective on key strategic and financial challenges, as well as opportunities facing this oil and gas company.

Wood Mackenzie provides an independent evaluation and expert opinion on the operational performance, strategy and future of the world's top oil and gas companies. Our unique, objective analysis helps you understand, validate, compare and challenge market and corporate views so you can assess strategic opportunities.

  • Executive summary
    • SWOT Analysis
  • Strategy
    • Strategic positioning as oil prices collapsed
    • Strategic response to lower oil prices
    • Financial outlook
    • Outlook for key performance metrics
    • Set to invest through the downturn
    • Domestic growth initiatives
      • Mixed progress on domestic development incentives
    • International growth initiatives
      • Impact of the Vankor acquisition
    • International acreage build ongoing, but limited drilling activity
    • New phase of international build
      • Possible areas of interest
  • Economic assumptions
    • Wood Mackenzie Corporate Service: our response to low oil prices
    • Economic assumptions
      • Foreign exchange rate assumptions

In this report there are 26 tables or charts, including:

  • Executive summary
    • Executive summary: Table 1
  • Strategy
    • Post-oil price crash relative share price performance
    • Evolution of market premium/discount to WM base case
    • Benchmarking: valuation by resource theme
    • Benchmarking: upstream development spend (unit of production basis)
    • Evolution of year-end net debt
    • Breakdown of upstream cash flow by country
    • Wood Mackenzie forecast total production
    • NPV pre and post-oil crash
    • India: ONGC production by basin
    • India: ONGC portfolio NPV10 sensitivities
    • NOC development expenditure per boe
    • India: ONGC deepwater acreage
    • International portfolio: current vs future NPV10
    • International production outlook
    • International production outlook (incl Vankor)
    • International cash flow outlook (incl Vankor)
    • ONGC's international exploration acreage
    • ONGC's international interests
  • Economic assumptions
    • Base price assumptions (nominal terms)
    • Base price assumptions (nominal terms)
    • Base, high, and low Brent (nominal terms)
    • High price assumptions
    • Low price assumptions
    • Value assumptions
    • Economic assumptions: Table 5
Requester's name : .............
Department : .............
Authoriser's Name : .............
Authoriser's signature : .............
Date : .............
Cost Centre : .............

Questions about this report?

Frequently Asked Questions
  • Europe: +44 131 243 4699
  • Americas: +1 713 470 1900
  • Asia Pacific: +61 2 8224 8898
contact us

Why Wood Mackenzie?

Wood Mackenzie, a Verisk Analytics business, has been a trusted source of commercial intelligence for the world's natural resources sector for more than 40 years, empowering clients to make better strategic decisions with objective analysis and advice.

We work across every sector of oil, gas, power, renewables, chemicals, metals and mining, covering more than 150 countries. Our proprietary data and models are at the core of everything we do, ensuring our independent asset and company valuations are thoroughly robust and that we offer an accurate forward-looking view of economic indicators such as market supply, demand and price trends.

Our 500+ analysts are based in the regions they cover, cultivating an unrivalled depth of understanding to help clients accurately identify new opportunities, define their strategy and improve business performance.

At every stage, our teams readily collaborate and share their insight to provide an integrated perspective across entire industries. It is this unique and rigorous analytical approach that ensures we are recognised as the industry standard by the world’s most innovative organisations.