It is always a pleasure to be amongst you… and celebration of Independence Day and Republic Day in our own ‘birthplace’ makes it even more special.
It lends a sense of community and togetherness – and allows us to reflect on the collective strides we have taken in our journey so far. A feeling that is often missing in the grind of everyday work and living.
While we gained independence on 15th August 1947, it was only on this day, 70 years ago, the country was armed with a voice, reason and conscience of its own.
Our organization has played a critical role in furthering the growth and fuelling the aspirations of this country. Over the last 60+ years……, ONGC’s achievements in the energy sector, particularly in upstream oil and gas,…… have been vital to building a strong foundation for the country’s development.
As ONGCians, we are proud flag-bearers of that legacy. And today, as we step into the new decade,…… the onus is on each one of us to not just zealously guard that hard-earned legacy…… but also steer ONGC into its new Energy Future – the one that resonates with a New India ….. and its ideals and ambitions.
We are all quite aware of our import dependency – so, the imperative to produce more to offset our reliance on energy imports remains. But, to my mind,……. the larger challenge will be to transform our Company so that it retains its stature …….as the country’s foremost energy company and remains relevant to the Indian energy discourse for years to come.
It was this idea which was behind formulating our new strategic blueprint – Energy Strategy 2040.
Talking of the future – Energy Strategy 2040 will be our ‘pole star’ as we continue to evolve as a Future-Ready Energy entity in a changing global and domestic energy landscape. Throughout the long history of Indian oil and gas,…… ONGC has been the one that has set the tone, particularly in upstream. But we will require a new rulebook – a new strategic template – if we are to continue as a force to reckon with in this space.
Energy Strategy 2040 reimagines ONGC in a new avatar…… with interests and influence spanning beyond Oil and Gas to new energy and technology frontiers such as Renewables, Alternatives, Batteries, Artificial Intelligence etc.
ES 2040 will require sustained and consistent work from all of you and,…… most importantly, it will require your endorsement and commitment if we want this potentially transformative exercise…… to truly deliver on its promised mandate.
Our performance in FY’19 has been positive. We opened up possibilities in the Bengal and Vindhyan Basins with first-time commercial discoveries. At 24.75 BCM,….. our domestic gas output was the highest ever. We earned the highest ever revenue of over Rupees one lakh Crores. Production from the overseas properties of ONGC Videsh was also the highest ever.
It was a particularly impressive year for our downstream portfolio. MRPL achieved its highest ever throughput while HPCL recorded its highest ever sales volume. In petchem, OMPL generated its maiden profit and the plant operated at close to 100% capacity. OPAL has also achieved 100% capacity utilisation. Our Power venture – OTPC – achieved its highest ever turnover and profit.
Our efforts in the energy realm also received significant recognition both at the global and national level. Some of the notable ones are : S&P Platts Global Energy Award 2019 for CSR : You will be happy to learn that…… we were amongst the very few Indian Companies who were nominated in various categories of Platts Award. And we emerged as the ONLY Indian Company to receive award.
Exploration Company of the Year 2019 award by FIPI.
Sustained excellence has been one of the hallmarks of ONGC’s journey so far…..and these Awards and recognitions are a healthy reaffirmation of our prowess in the energy arena. In fact, award such as the Platts Global Award for CSR tells something even more important – that we are relevant to the stakeholders in our society for reasons beyond business as well. That adds character and conscience to our larger business enterprise.
Dear ONGCians, we must also at the same time guard against complacency…….and not lean on our past so much that it fogs our vision and dulls our ambitions for the future. If anything,……our history should only inspire us to reach higher orbits of excellence.
Also, when you are one of the major energy companies …….catering to the energy needs of a vibrant, growth-oriented and energy hungry country like ours,…… there is always room to do more.
But the first line of action and the foremost commitment for any business,….. more so for the oil and gas industry, must be Safety. While technological advances and more rigorous standards of operational safety have done a lot to mitigate the quantum of risks within the sector,…… our forays into more difficult and complex frontier areas such as deepwater or HP-HT means the risk quotient has also gone up in tandem.
So, I would urge everyone to continue to remain ever vigilant…… and ENSURE 100% compliance to all the SOPs while on duty.
A way to advance ONGC further along the Safety framework…… is to aggressively deploy technological interventions….. wherever possible with an aim to minimize human discretion and subsequently limit chances of lapses.
Globally, digitalization is being pitched as the ‘game-changer’ for the sector – in terms of productivity, safety and sustainability,….. all three of them are going to be the definite markers of excellence in the evolving energy matrix. We are also prioritizing ‘Digitalization’ as part of our long term roadmap.
Let me update what we have achieved so far in the current financial year in our core E&P segment. This should help us in assessing the miles we have covered in relation to our targets…… and understand the efforts and inputs needed for the final quarter to put up another year of good performance.
10 discoveries has been made so far… 3 of which are B-218-1, 219-1 & WO-24-10 in the Western Offshore Basin are significant in terms of their potential to add fresh volumes to our prolific MH field; …… 2 out of the 10 have already been monetized.
We have regained ownership of Panna-Mukta fields; the twin fields presently producing 10000 barrels per day of oil and 4 MMSCMD of gas. This provides us with a great opportunity to further improve our credentials …… as a late-life mature field operator par excellence ; During the year, we also started producing from the Ratna-R Series fields (R-10 & R-7) which were again handed back to us after 23 years ; 23 major projects are currently underway with estimated cumulative lifecycle gain of over 190 MMtoe. There has been significant improvement in project implementation. Most of the current projects are on schedule.
We are expecting first gas from our flagship deepwater project KG-98/2 within this quarter…… which would mean FY’20 ending on a high note and signal the beginning of a promising future for ONGC.
ustainability is going to remain a dominant theme of the energy narrative in the new decade and beyond. And rightly so – climate change is a real issue and has started affecting everyone’s life. At ONGC, we are driving our sustainability efforts through a variety of measures.
CO2 Project for EOR is being fast tracked which shall be first of its kind in the country and significantly offset our carbon footprint. We have tied up with IOCL for carbon capture and use in our fields at Gandhar.
As part of sustainable water management policy of ONGC, water footprint study was carried out. We are in the process of setting up a 10,000 M3 capacity Sea Water Reverse Osmosis Desalination Plant at Uran which can be later upgardaded to 20,000 M3 capacity, which will eliminate the total fresh water requirement in couple of years from now.
Various initiatives of reducing flaring has paid rich dividends. We are now a Company having flaring of 1.84% of production – which is amongst the lowest in the world.
We have already started deployment of Micro-turbines for captive and decentralized power generation to cater to internal loads. Two machines have been installed,….. one each in Mehsana and Assam. Many other work centres are also going to implement soon. Use of power generated from micro-turbine, in place of diesel generator power or utility power shall reduce environmental load through utilization of cleaner fuel.
Several CDM projects including gas-based power plant (OTPC), paperless office, ban on single use plastics are some of the other sustainability initiatives which have been taken up in the past.
Around 54000 LED lights have been installed during FY’20 across various work centers of ONGC…… taking the total to 2.61 lakhs LED lights installed under implementation of LED lighting program – apart from reduction of carbon intensity of our business it will also saves us about Rs. 35 crores annually
Total installed solar capacity stands at 25 MW – another 6 MW is expected to come online during the year through installations at Tatipaka-Rajahmundry and Assam-Nazira;
Duel Fuel Gas Blending (DGB) system is today implemented in all three drilling rigs of Ankleshwar Asset where gas can be supplied through pipelines. DGB implementation on drilling rigs of Assam asset is in process. This has resulted in substitution of nearly 50-70% of liquid fuel. We are in the process of acquiring 27 drilling rigs and all these will come with DGB system embedded in them.
New technologies such as "Pitless or closed-loop drilling" which is a uniquely engineered onsite drilling waste treatment system, ………capable to eliminate the damage to environment without making waste pits.
The maiden initiative of Pit Less Drilling in ONGC has recorded success at Rajahmundry in the well BKAA. It has opened up new vistas of minimizing environmental effects, land acquisition concerns and maximizing cost-effectiveness.
With the implementation of the total sea water based Drilling Fluid system (DFS),….. we are also going to reduce fresh water usage thereby save precious fresh water.
To take our paperless mission further after the successful roll out of Disha ,…… all EC/EPC meetings and Board meetings of ONGC, its subsidiaries and joint venture companies…… are now being conducted paperless through dedicated web based portals. Similarly, the all welfare trusts meetings are also now conducted in paperless mode.
An all-India Toll-Free 24x7 Helpline Number “1800 – 1800 - 088” has been installed to facilitate easy communication and to have the first hand information through fastest means. It can also be used during emergencies like…… natural calamities or any other unforeseen eventualities to convey information,…… besides reporting about any incidents takes place in and around vicinity of ONGC premises.
Promotion orders of 2020 of all levels were issued on 1st of January.
New centralized Health-Care Information System was rolled out in October 2019; the new Integrated HIS module has various advantages over the older version - now, ONGC beneficiaries can avail medical facilities at all work centres. Fetching of data is also faster.
Renowned Pharmacy chains have already been empanelled at almost all workcentres; and now I am sure that it is providing quality medicines to our beneficiaries with more comfort and convenience.
On the occasion of International day for Persons with Disabilities (PwD), 3rd ONGC Para Games was organised from 3rd to 5th December at Gandhinagar with participation of more than 200 participants. This takes us further towards being an inclusive organisation,….. sensitive to needs of all our stakeholders.
Executive Committee has chalked out an annual calendar….. to hold Open Forums across work locations of ONGC in 2020. The first such Forum was held recently at Mehsana Asset. This forum served as an interface and invoked great enthusiasm.
In order to foster a positive connect with the organization…… and instil confidence around their well-being and professional growth,….. we are always looking at bringing in policies and measures that are relevant to today’s work place and employee priorities. Some of the measures taken during past one year are: NPS being beneficial to employees and tax efficient in combination with PRBS, it has been decided to introduce NPS scheme along with existing PRBS scheme. NPS would be an optional scheme for the employees.
To secure Post-Retirement Medical Benefit of employees, ……dedicated Post-Retirement Fund has been created.
Annual Awards are another way of showing our appreciation for special efforts…… made by ONGCians in their pursuit of energy security for the country. These feats and pursuits are ample testimony to the vast reserves of talent and expertise in our ranks – we really do not need to go looking for inspiration anywhere else.
So, let us all put our hearts and minds together in this effort to build an ONGC…… that future generations will be proud to be a part of. Let us continue to believe in the promise of the future as envisioned by ES 2040 and persevere with passion to fulfil those goals, as individuals and as a ‘Team’.
For more detail visit : https://www.ongcindia.com/wps/wcm/connect/en/media/press-release/cmd-speech-on-71-republic-day-of-india
