 "Acquisition & timing decoupled")
An analysis of OVL's major acquisitions since 2001 shows their timings had no visible relation with the prevailing crude oil prices, implying consistency in strategic moves
- ONGC Videsh Ltd (OVL) owns Participating Interests in 36 oil and gas assets in 17 countries and contributes 14.5% and 8% to India's total oil and natural gas production, respectively
- In terms of reserves and production, ONGC Videsh is the second largest petroleum company in India after its parent Oil and Natural Gas Corporation (ONGC)
- The firm has, so far, invested about $22 billion to scale up annual production to nearly 8.5 mt
- OVL's portfolio includes 13 producing assets in Russia, Syria, Vietnam, Colombia, Sudan, and Azerbaijan, among others, apart from 4 discovered assets under implementation, 14 assets under exploration phase and 2 pipeline projects