Energy major ONGC eyes Strategic Roadmap 2040

Sarkaritel
By Sarkaritel January 26, 2019 16:13


Maharatna Oil and Natural Gas Corporation Limited (ONGC) is mulling a vision document “Strategic Roadmap 2040”. The document is expected to craft the company’s strategy as an integrated energy major with a long-term perspective, Mr Shashi Shanker, CMD, ONGC said during his speech after hoisting the national tricolor at the Republic Day at company’s headquarters in Dehradun.

“The document would reframe the vision and recast the objectives of Perspective Plan 2030”, he said. The Perspective Plan 2030 was ONGC’s earlier vision document that outlined strategic goals for the growth of organization and for the energy security of the nation.

“Our portfolio has seen a metamorphic change in the last decade. Today our business portfolio includes E&P, Refining, Petrochemicals, LNG, Pipelines, Retail, SEZ Infrastructure, Power etc. While these developments open up new vistas and opportunities for the Company, they also add layers of complexity to our decision-making and strategic framework”, he said.

MrShanker said that ONGC is considering many opportunities for sustaining growth and fulfilling its vision of becoming a global energy leader. The exercise also envisages evaluating potential growth areas both within and outside India, so that ONGC is able to prioritize suitable actions well in advance.

Overall, FY’18 was a solid year for ONGC, MrShanker said. Our standalone hydrocarbon production increased year on year; the uptick in gas output was particularly impressive. Crude oil output increased marginally from FY’17 levels while gas output increased by over 6% to 23.5 BCM from 22.0 BCM in FY’17, he added.

Sarkaritel
By Sarkaritel January 26, 2019 16:13