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16 Pages

ONGC corporate report


ONGC corporate report

Report summary

ONGC has chosen to pursue growth despite the fall in oil prices, bucking the global trend of reduced investment. Domestically, EOR activity across the mature portfolio has continued and new deepwater projects are moving ahead, encouraged by Indian pricing reforms. Internationally, ONGC has led its Asian NOCs peers through a counter-cyclical approach to M&A, acquiring a 26% stake in Vankorneft (Russia).

The near-term outlook is now stronger, but falls short of corporate production targets. We expect more M&A, and calculate that ONGC has the capacity for US$7 billion of deals before gearing reaches 35%. Longer-term production targets are also ambitious and ONGC will struggle to achieve them through deal activity alone. The company will have to make some tough decisions on total spend and capital allocation between its domestic and international portfolios.


What's included?

This report includes 2 file(s)

  • ONGC corporate report PDF - 798.72 KB 16 Pages, 7 Tables, 20 Figures
  • ONGC Corporate Report.xls XLS - 3.18 MB

Description

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
    • Executive Summary
  • Strategy
    • 1. Appraising domestic growth opportunities
    • 2. Ambitious international growth targets: further M&A activity is expected
    • 3. Exploration-led growth remains a priority
  • Valuation
  • Financial health
  • Resources, reserves and production
    • Resources and reserves overview
    • Production overview
  • Portfolio summary
  • Economic assumptions
    • Economic assumptions
      • Foreign exchange rate assumptions

In this report there are 27 tables or charts, including:

  • Executive summary
  • SWOT Analysis
    • Executive summary: Table 1
  • Strategy
    • Strategy: Image 1
    • Strategy: Image 2
    • Strategy: Image 3
    • ONGC: strategic fit of upstream regions
    • Strategy: Image 5
    • Strategy: Image 6
    • ONGC: international exploration acreage held (87,250 sq km)
    • ONGC: international exploration blocks held (85 blocks)
  • Valuation
    • Valuation: Image 1
    • Valuation: Image 2
  • Financial health
    • Financial health: Image 1
    • Financial health: Image 2
  • Resources, reserves and production
    • Reserves and resource detail
    • Benchmarking: reserves and resources detail
    • Benchmarking: reserves and resources life
    • Production outlook
    • Resources, reserves and production: Image 5
    • Resources, reserves and production: Image 6
  • Portfolio summary
    • Key assets
  • 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
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