SINGAPORE, Oct 18, 2023 - (ACN Newswire) - Oil and Natural Gas Corporation (ONGC) is organizing a roadshow in Singapore on 19 and 20 October 2023, to invite global oil and gas companies for collaboration opportunities in offshore oil and gas projects. The Roadshow will offer valuable insights into business opportunities within India's offshore oil and gas infrastructure sector. The Roadshow is taking place in Hotel Pan Pacific, 7 Raffles Boulevard, Singapore.
In pursuit of strategic growth aligned with the evolving energy landscape, ONGC has meticulously designed an ambitious roadmap, the Energy Strategy 2040. This comprehensive plan reflects its resolute commitment to double oil and gas production, expand refining capacity, diversify into renewable energy, and bolster our non-oil and gas ventures.
To achieve substantial growth and diversify its energy portfolio, ONGC prioritizes the early monetization of discoveries through accelerated project execution. It is also making significant investments in Deepwater exploration, Improved Oil Recovery (IOR), and Enhanced Oil Recovery (EOR) projects, maximizing production efficiency and tapping untapped reserves.
Aligned with its growth plans, ONGC is embarking on an expedited development of multiple offshore fields over the next three years. Its objective is to establish more than 25 offshore facilities, lay over 1000 kilometers of subsea pipelines, and create associated infrastructure, requiring an investment of USD 11 billion.
As a trailblazer in India's energy sector since 1956, ONGC remains dedicated to providing dependable and sustainable energy solutions. Recognizing the vital role hydrocarbons will play in India's energy security and economic growth, ONGC looks forward to have a mutually beneficial relationship and long lasting partnership with its business partners.
Issued by:
Oil and Natural Gas Corporation Limited
Corporate Communications, New Delhi
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Topic: Press release summary
Source: ONGC
Sectors: Alternative Energy, Oil & Gas
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