/ ONGC Videsh Ltd Output Registers Record 12.57 Mn Tonnes In FY17 ~ Ways2Capital|Stock Tips|Stock Market Tips|Intraday Stock Tips|Stock Trading Tips|NSE BSE Tips

Monday, 8 May 2017

The state-owned Oil and Natural Gas Corporation’s overseas arm, ONGC Videsh Limited, has registered a record output of 12.57 million tonnes of crude oil and equivalent gas from its assets overseas in 2016-17.

Narendra K Verma, Managing Director, ONGC Videsh while speaking to a national news agency, said that the output was up from the previous fiscal 2015-16 by 8.92 million tonnes of oil and oil equivalent gas.

ONGC Videsh Limited has witnessed a peak output of 9.45 million tonnes in the 2010-11, in its existence of over 50 years in Iran with the venture beginning in 1965.

Verma also stated that the 2016-17 production rose on account of acquisition of the stake in Vankor oil field, Russia; adding that the ONGC Videsh Limited Is eyeing a target of 14.37 million tonnes of oil and oil equivalent gas production in 2017-18.

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