Oil and Natural Gas Corporation Limited Corporate Ranking Ranked 326th in Financial Times Global 500 List by market cap; first among Indian Corporates. Ranked 133rd in Forbes 400 Top Global Corporates by market cap; first among Indian Corporates. Ranked 1st in Economic Times 500 Corporate List by net profit and market cap Ranked 1st in Business Today 500 List by net profit Ranked 1st in Business Today-Stern Stewart Study of 500 Indian Corporates for highest-ever Market Value Added (MVA). ONGC is the only PSU, which has both MVA and EVA positive.   New Discoveries ONGC made six new discoveries, at Vasai West (oil and gas) in Western Offshore, GS-49 (gas) and GS-KW (oil and gas) in Krishna-Godavari Offshore, Chinnewala Tibba (gas) in Rajasthan, and Laipling-gaon (oil and gas) and Banamali (oil), both in Assam. ONGC Videsh Limited ONGC's wholly owned subsidiary, ONGC Videsh Ltd, has made significant investments in many parts of the world. The gas property in Vietnam (OVL's participating interest 45%) went into commercial production in December 2002, leading to OVL's first revenue from hydrocarbons. In March 2003, OVL concluded the acquisition of 25% equity in the Greater Nile project in Sudan with an investment of Rs. 3,430 crore. This investment entitles OVL to 3.00 MMT of crude oil per year, which is valued at Rs. 2,500 crore at current prices. OVL opened its first overseas subsidiary, Sakhalin India Inc., in US for managing its operations in Sakhalin Oil field in Russia. Further, ONGC Nile-Ganga BV, a wholly owned subsidiary, was incorporated in The Netherlands to manage the Sudan property. OVL is also pursuing exploration of oil and gas in Russia, Iran, Iraq, Libya Myanmar and other countries. MRPL Adopting an integrated business model, ONGC acquired 72% of the stake in MRPL with full management control of the 9.69 tonne, state-of-the-art refinery. MRPL has already received sweet crude from ONGC's equity in Sudan twice. MRPL is expected to register a net profit in this financial year. ONGIO International Limited ONGIO International Limited, a 50:50 joint venture between ONGC and IOC, has been incorporated, to provide training, consultancy and services from drilling to dispensing, in India and abroad. Vision and Mission To be a world-class Oil and Gas Company integrated in energy business with dominant Indian leadership and global presence. Achievements Awards achieved are:- ˇ ONGC Bags NPMP Awards In Creativity And Finance:  ONGC's production engineers dominated the stage in the "Creativity and Innovation" category of NPMP awards for 2001-02, which were distributed by the Petroleum Minister Mr. Ram Naik on July 3, 2003.  ˇ ONGC Bags Three Greentech Foundation Awards: ONGC has bagged three Greentech Excellence awards for maintaining the highest standards of safety at its installations and operational areas. ˇ Dr. J V S S Narayana Murthy Wins National Mineral Award 2001: Harvesting the fruits of information technology needs two professionals - one from software development, and another from the specialist knowledge domain. It is indeed rare to find someone who excels in both. ˇ Partha P Mitra Awarded National Mineral Award-2001: The National Mineral Award for 2001 was conferred on ONGC's SG (S), Mumbai High Asset, Mr Partha P Mitra in recognition of his contribution to the area of application of innovative technique for mineral exploration. ˇ Four ONGC Scientists Bag National Mineral Award-2001: Four ONGC geoscientists, Dr Anil Bhandari, DGM (Geology), Mr Narendra Kumar Verma, Chief Geologist, Dr J V S S Narayana Murthy, Suptdg Geophysicist (S) and Mr Partha Pratim Mitra, Suptdg Geophysicist (S) have bagged the National Mineral Awards 2001 for their outstanding contribution in the field of Fundamental/Applied Geosciences. For more information on Oil and Natural Gas Corporation Limited Click here