MECL Field Lower Zakum Offshore Complex

Vankorneft Drill Site ACG Platform

ONGC Videsh Limited

Corporate Presentation

June 2024
 Disclaimer

• This presentation does not provide individually tailored advice but is an effort to express views that may be considered debatable, and
may not conform to different views on the topic and does not contain any information of strategic nature emerging from the ONGC
Videsh Limited
• The Company has prepared this presentation based on information available to it, including information derived from public sources that
have not been independently verified. While reasonable efforts have been made to provide reliable information through this presentation,
no representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability
of the information, opinions or conclusions expressed herein. Neither the Company nor anyone else accepts any liability whatsoever for
any loss, howsoever, arising from use or reliance on this presentation or its contents or otherwise arising in connection therewith.
• This presentation had been prepared without regard to any pressure group, institution/ lobby on international affairs or relations and is not
meant to aim at any individual, institution, group, country, government or political representatives, its ideology, thinking or prophesy.
• This presentation is not intended to be relied upon as advice to investors or potential investors and does not take into account the
investment objectives, financial situation or needs of any investor. The information contained herein does not purport to be all-inclusive
or to contain all of the information a prospective or existing investor may desire. All investors should conduct their own investigation and
analysis of the Company and consider such factors in consultation with a professional advisor of their choosing when deciding if an
investment is appropriate.
• This presentation may contain forward looking statements including statements regarding our intent, belief or current expectations. While
due care has been used in the preparation of forecast information, actual results may vary in a materially positive or negative manner.

2
Presentation Overview

1 Introduction of ONGC Videsh

2 Global Footprints

3 Reserves and Production

4 Financials

5 Growth plans

6 Global Partners

3
Presentation Overview

1 Introduction of ONGC Videsh

2 Global Footprints

3 Reserves and Production

4 Financials

5 Growth Plans

6 Global Partners

4
 Introduction
Wholly-owned subsidiary of ONGC, Engaged in International E&P business
• Incorporated as Hydrocarbons India
5th March 1965 Pvt. Ltd.

15th June 1989 • Rechristened ONGC Videsh Ltd.

19 Countries,
• Global Presence
32 Assets

202 KBOE • Avg. Daily Production in FY’24

476_125/ 482_176
• 2P_2C/3P_3C Reserves @01.04.2024
MMTOE
5
 Board of Directors
Arun Kumar Singh
Chairman

Rajarshi Gupta
Managing Director

Non-Executive Part Time Directors Functional Directors Non-Executive Part Time

(Govt. Nominees) (Whole-time) Independent Directors

Esha Srivastava Sanjeev Tokhi

Shri Prakash Babu Kp
JS (IC), MoPNG Director (Exploration)

Omkar Nath Gyani

Vacant Dr. Dhanpat Ram Agarwal
Director (Operations)

Anupam Agarwal Smt. Deeksha Gangwar

Director (Finance)

Note: Functional Directors of ONGC are Special Invitee (s) to the Board. Vacant

Note: Functional Directors of ONGC are Special Invitees to the Board

6
 Key Strengths
Alliances & Partnership
with Global Oil Companies
Balanced Portfolio of Strong Governance
E&P Assets
(Prod – Expl – Dev) Excellent Human
Resource

Extensive Technology
International as Value
Footprint Driver
Empowerment Chronology...

17 Jan 2000 ❑ Special Empowerment: ₹200 Cr. For investment in Overseas O & G Opportunities

25 Feb 2005 ❑ Enhancement of Empowerment - US$75 million or ₹ 300 crore whichever is less

2011-12 ❑ Miniratna Category-I on 19th July 2011 & Schedule ‘A’ CPSE on 28th August 2012

2023 ❑ Navratna power granted on 3rd August 2023

8
Presentation Overview

1 Introducing ONGC Videsh

2 Global Footprints

3 Reserves and Production

4 Financials

5 Growth Plans

6 Global Partners

9
Growth Journey….. Spread Wings…

1965 1975 1988

1976
•Hydrocarbons India Ltd.- •PI in Exploratory block Abu •Three exploration blocks:
•PI in Exploratory block off the
India’s first overseas venture Khema, Iraq Block 6, Block 12E and Block
coast of Dar-es-Salam in
in Iran 19 in Vietnam
Tanzania

2001 2002 2003 2004

•20% PI in Sakhalin-1, •17% PI in exploratory Block • 25% PI in GNOP, bifurcated in 2011 •60% PI in exploratory Block
Russia A1, Myanmar (1) GNOPC Sudan (Exited on 31.08.19) 24 Syria
•40% PI in exploratory Block (2) GPOC, South Sudan
Farsi, Iran
• 24.125% PI in SPOC, South Sudan

2006
• 16.67-18.75% PI in AFPC,
2008 2013 2014
2009 2010
Syria • 40% PI in San Cristobal, • 2.7213% PI in ACG, • 16% PI in Rovuma
• 17% PI in exploratory Block Venezuela •100% PI in •11% PI in Azerbaijan Area 1, Mozambique
A3, Myanmar Imperial Energy, Carabobo-1, • 2.36% stake in BTC • 97% in B2 & EP-3,
• 15% PI in BC-10, Brazil • 70% PI in CPO-5, Russia Venezuela pipeline Myanmar
• 50% PI in MECL, Colombia Colombia • Addl. 12% PI in BC-10, • 45% in SS04 & 09,
Brazil Bangladesh

2016 2017 2018

•26% equity in Vankorneft, Russia • 30% PI in Exploration Blocks 2112A, •4% PI in LZC, UAE
2012B & 2113B in Namibia
(Relinquished in FY 20)
•25% PI in exploratory Block 32, Israel
(Relinquished in FY 21)
Global Footprints
32 projects in Producing: Discovered/ Exploration:
Pipeline: 3
15 countries 14 Developing: 4 11

Russia BU
Russia 3

AP BU
Colombia BU
Vietnam 1 1
Colombia 1 3
Myanmar 2 2 2
Bangladesh 2
LAC BU
Venezuela 1 1
MENA-CIS BU MOZAMBIQUE BU
Brazil 1 1 Azerbaijan 1 1 Mozambique 1
UAE 1

South Sudan 2 Business Excellence Centres

Dormant Projects: 5

Business Presence in 19 Countries across 5 Continents 11

Presentation Overview

1 Introduction of ONGC Videsh

2 Global Footprints

3 Reserves and Production

4 Financials

5 Growth Plans

6 Global Partners

12
 Reserves: Equivalent of 43% of India’s Domestic 2P Reserves
800
743 738
39 27
707 3P+3C
700 31 670 668 658
637 647 633 Reserves 1P 2P 3P
35
612 618 @ 01.04.24 (MMToE) (MMToE) (MMToE)
37 37
600 25
171 176 Total 253.809 476.329 481.943
176
123
Contingent
500 330 1C 2C 3C
433 424 5 4 6 6
Resources
435 425 432 246
MMTOE

406 398 Total 10.492 125.201 176.089

33 33 37
400 393 409 397
36 41 217 221 221
223

300 280 199 199 199

180 171
230 241 243 36
214 225 18 22
200 27
13 13
13 19 16 26 83 • Migrated to PRMS system
346 340
w.e.f. 1st April 2021
271 287 274 274 264 254
100 187 199 198 207 195 190 186 203 193 196 207 203 199
161

0
FY'03 FY'04 FY'05 FY'06 FY'07 FY'08 FY'09 FY'10 FY'11 FY'12 FY'13 FY'14 FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24
India Domestic Reserves 1098.56 (2P) MMTOE*
Proven Probable Possible Total-Contingent 3P Total Grand Total (3P+3C) * MoPNG Annual Report 22-23
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 2P Reserves Spread
476.329 MMToE as on 01.04.2024
Azerbaijan, 6.24, Colombia, 3.82, PIVSA, Venezuela, SPOC, South Sudan, CPO-5, Colombia, Block BC-10, Brazil,
1% 1% Brazil, 1.27, 0% 3.46, 1% 3.15, 1% 2.78, 1% 1.27, 0%
Myanmar, 7.13, 2% GPOC, South Sudan, MECL, Colombia, 1.05,
Vietnam, 0.88, 0% 5.15, 1% 0%
ACG, Azerbaijan, 6.24,
South Sudan, 1% Block 06.1, Vietnam,
8.30, 2% 0.88, 0%
Blocks A1, A3
Myanmar, 7.13, 2%
UAE, 16.13, 3%
Carabobo-1,
Venezuela, 13.45, 3%
Venezuela, 16.92,
4% Lower Zakum, UAE,
16.13, 3%
Russia, 214.94,
Imperial, Russia,
45% 38.83, 8%

Vankor, Russia, 63.07,

13% Area-1, Mozambique,
Mozambique,
200.71, 42%
200.71, 42%

Sakhalin-1, Russia,
COUNTRY WISE 113.04, 24% PROJECT WISE
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 Production Performance Past 10 years

20% OF ONGC GROUP

PRODUCTION in MMTOE PRODUCTION
16.00 (52.305 MMTOE)
14.83 14.98
FY’24
14.16
14.00 13.04 ONGC GROUP OVL
12.80
12.33
4.74 5.23
12.00
4.81
10.17 10.52
4.37 4.53
10.00 4.23 20%
8.87 8.92
3.34
8.00 3.82
3.34 3.41
6.00

9.35 10.10 9.76 80%

4.00 8.43 8.51 8.10
7.18
6.35
5.53 5.51
2.00

0.00
FY'15 FY'16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24

Oil Gas
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 FY’24 Production Spread
10.518 MMTOE

Azerbaijan, 0.482, Block-06.1, Vietnam, BC-10, Brazil, 0.419, Sancristobal,

UAE, 0.724, 7% ACG, Azerbaijan, Carabobo-
5% Brazil, 0.419, 4% 0.421, 4% Venezuela, 0.088, 1%
Vietnam, 0.421, 4% 0.482, 4% 4% 1,Venezuela, 0.064,
1%

Venezuela, 0.152, Colombia, 0.750, SPOC, S. Sudan,

1% 7% 0.076, 1%

South Sudan, GPOC, S. Sudan, Vankor, Russia, 3.455,

0.659, 6% 0.583, 5% 33%
Myanmar, 0.833,
8%
MECL, Colombia,
0.089, 1%

CPO-5, Colombia,
0.661, 6%

LZC, UAE, 0.724, 7%

A1&A3 Myanmar,
Russia, 6.078, 58%
0.833, 8%
Sakhalin -1, Russia,
COUNTRY WISE IEC, Russia, 0.238, 2% PROJECT WISE 2.385, 23%

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Production vis-à-vis National Production
40.00
30.00

MMT
20.00
Oil 10.00
0.00
FY ’11 FY '12 FY '13 FY'14 FY '15 FY '16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24
India - Domestic 37.71 38.09 37.86 37.78 37.46 36.90 36.00 35.70 34.20 32.20 30.50 29.70 29.20 29.40
ONGC Videsh 6.76 6.21 4.34 5.49 5.53 5.51 8.43 9.35 10.10 9.76 8.51 8.10 6.35 7.18
ONGC Videsh Production (%) 17.9 16.3 11.5 14.5 14.8 14.9 23.4 26.2 29.5 30.3 27.9 27.3 21.7 24.4

100.00
75.00
MMTOE

50.00

Oil & Gas 25.00

0.00
FY ’11 FY '12 FY '13 FY'14 FY '15 FY '16 FY'17 FY'18 FY'19 FY'20 FY'21 FY'22 FY'23 FY'24
India - Domestic 89.93 85.64 78.54 73.17 71.12 69.20 67.90 68.35 67.10 63.40 59.20 63.70 63.60 65.83
ONGC Videsh 9.45 8.75 7.26 8.36 8.87 8.92 12.80 14.16 14.83 14.98 13.04 12.33 10.17 10.52
ONGC Videsh Production (%) 10.5 10.2 9.2 11.4 12.5 12.9 18.9 20.7 22.1 23.6 22.0 19.4 16.0 16.0

Source : PPAC
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 Production Performance FY’24 vis-à-vis FY’23
Oil & Gas Production Operated/Non-Operated Operated Projects Production
Production
12 12 2.00

1.799
10.518 10.518 1.80
10.171 10.171 0.064
1.662
10 0.076
10
1.60 0.065 0.088
0.058 Carabobo-1,Venezuela
0.061 0.089
3.340
0.079
3.822 1.40
8 8 0.238 SPOC, S. Sudan
0.287
Production MMTOE

Gas 1.20
Sancristobal, Venezuela

Oil Non Operated

6 6 8.719 1.00
8.509 MECL, Colombia
Operated 0.583
0.457
0.80 IEC, Russia
4 4
7.178 0.60 GPOC, S. Sudan
6.349

0.40 CPO-5, Colombia

2 2 0.655 0.661

0.20
1.662 1.799

0 0 0.00
FY'23 FY'24 FY'23 FY'24 FY'23 FY'24
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Presentation Overview

1 Introduction of ONGC Videsh

2 Global Footprints

3 Reserves and Production

4 Financials

5 Growth Plans

6 Global Partners

19
 Financial Performance: Last 5 Years
Net Worth (₹ Crore) Turnover (₹ Crore) Net Profit (₹ Crore)
58,000 20,000

56,663 2,000
56,348 18,000 17,322 1,891
56,000
16,000 15,498 1,700
1,589
54,000 14,000 1,500
11,956 11,676
12,000
52,000 51,736

10,000 9,553
50,306
1,000
50,000 49,384 8,000
690
6,000
48,000
500 454
4,000

46,000
2,000

44,000 - -
FY'20 FY'21 FY'22 FY'23 FY'24 FY'20 FY'21 FY'22 FY'23 FY'24 FY'20 FY'21 FY'22 FY'23 FY'24

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Presentation Overview

1 Introduction of ONGC Videsh

2 Global Footprints

3 Reserves and Production

4 Financials

5 Growth Plans

6 Global Partners

21
Vision, Mission and Objectives

Vision
• To be a world-class exploration and production company providing energy
security to the country

Mission
• To contribute 40 MMToe of equity Oil and Oil Equivalent Gas by 2040

Objectives
• To support India’s energy security
• To build balanced portfolio of exploration, discovered and producing assets in focus countries
• To build a team that excels in performance through assimilation of best practices and technologies
• To be at par with the best international oil and gas companies
• Be the strongest Indian Player in the international E&P
• Build collaborative relations with partners

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 Gaining Reputation & Stature
Credible Operator, Producing 5 MMTOE as Operator/Jt. Operator

Discovered/
Producing Exploration Pipeline Total
Developing

Operator 5 2 9 0 16

Non-operator 9 2 2 3 16

Total 14 4 11 3 32

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Recent Acquisitions

Acquired in PI% Assets

May, 2016 15 Vankorneft, Russia

October, 2016 11 Vankorneft, Russia

February, 2018 4 Lower Zakum Concession, UAE

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Long Term Target: 40 @ 40

40 MMToE Production by 2040

Existing Projects Future Acquisitions

Producing: 20 - 23 %
Producing /
Development /
Development: 15 - 17 % Exploration

48 - 55 %
Exploration Upside : 10 - 12 %
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Recent Developments

Accorded Navratna Status on 03rd August 2023

GPOC, S. Sudan: Production ramped up over 54,000 BOPD after flood fury

Created Strategic Subsidiary OOIL in GIFT City on 7th December 2023

CPO-5, Colombia: Production enhanced to 30,000 BOPD with exploratory success

Cumulatively produced over 204 MMTOE since inception

Sakhalin-1: Confidentiality Agreement signed in Nov’23, Production regained to 1,80,000 BOPD

Accorded Most Admired Company of the Year 2023 Award

Presentation Overview

1 Introduction of ONGC Videsh

2 Global Footprints

3 Reserves and Production

4 Financials

5 Growth Plans

6 Global Partners

27
Global Partners

Partnerships with leading IOCs/NOCs worldwide

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Thank You

Corporate Planning & Strategy

ONGC Videsh Ltd.
June 2024

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