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3 rd Strategy Meet PowerPoint Presentation
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3 rd Strategy Meet

3 rd Strategy Meet

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3 rd Strategy Meet

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  1. 3rd Strategy Meet

  2. 3rd S T R A T E G Y M E E T Action Taken Report (ATR) 1st & 2nd Strategy Meet

  3. Strategic Goals • To double Reserve Accretion • To improve Recovery Factor to 40% • To bring in 20 MMTpa equity oil from abroad over 2001-20

  4. To Double Reserve Accretion • 4 Bmt O+OEG Offshore • Deepwater • 2 Bmt O+OEG onshore • Frontier Basins • Growth areas from established 6 Basins

  5. Deepwater

  6. Suggested Approach In house expertise development Alliance with leading deep-water players Long-term strategic relationship Deepwater

  7. Deepwater Decision • Formation of Core groups to firm-up time-bound action plan for expertise development in deep water exploration. Actions Taken • Deepwater core groups formed for integration of activities • Plan to bridge gaps in expertise, technology induction and skill development etc., to be finalized in July’02 Contd…

  8. Deepwater Decision • Charter hiring of rigs for deepwater operations Actions Taken • Charter hiring of 3 deepwater rigs under finalization. • Up to 1500m – 1 rig • Up to 2500m – 1 rig • Up to 3000m – 1 rig • Discussions held with drilling companies. Pre-bid conference held. • BEC under finalization. Contd…

  9. Deepwater Decision • Procurement of one super-deep (>2500m) drilling rig Actions Taken • Initially 1 super deep drilling rig being hired. • Acquisition as per success probability. Contd…

  10. Deepwater Decision • Tosubmit a detailed proposal to MOP&NG for empowering ONGC to formalize Joint Ventures and Alliances for E&D and Drilling Actions Taken • Note put up in Feb’2002 • Lukewarm response from 17 companies identified for alliancing for exploration in 5 deepwater blocks • Other companies short-listed for possible alliance and modalities for alliance under finalization. • Discussions with M/S Statoil for drilling Deepwater wells on turnkey basis. Contd…

  11. Deepwater Decision • To submit a comprehensive note to MOP&NG on existing CVC guide-lines and proposed deviations required for taking advantage of the technological advancements. Actions Taken • Comprehensive note submitted in March’2002 Contd…

  12. Frontier Basin

  13. Suggested Approach Short Term – Focussed exploration Medium Term - Prospectivity Assessment for focussed Exploration Long Term - Knowledge building for Prospectivity Assessment Frontier Basin Contd…

  14. Frontier Basin Decision • Physical-inputs and resources for frontier basin activities to be identified by March’2002. Action Taken • Physical inputs for knowledge building activities and resources required in the frontier basins identified. Contd…

  15. Frontier Basin Decisions • To submit comprehensive notes to MOP&NG requesting for • Fiscal relaxation required for its activity in Frontier basins as well as in Tripura • Exploration licenses on nomination basis in frontier basin • To submit proposal to OIDB for grants/ loans for exploration in frontier basins Actions Taken • Physical plans along with investment requirement being submitted to EC • On approval, comprehensive proposal to be put up to • MOP&NG for mentioned dispensations • OIDB for grants/ soft loans for knowledge building activities

  16. Established Basins Improving Recovery Factor

  17. Improvement in Recovery Factor Suggested Approach • To focus on time-bound action plan for 15 major producing fields including Mumbai High • To initiate actions to improve recovery factor from other 30 fields • To initiate EOR projects for enhancing oil recovery • Monetization & accelerated development of New & Marginal fields Contd…

  18. Improvement in Recovery Factor Decision • Continuous monitoring of major fields Actions Taken • Process established for continuous monitoring of major fields – through MDT • Micro detailing for monitoring firmed up through Project ACCEPT for Assam field • Improved surveillance established at Asset level • IRS as nodal agency along with IOGPT, KDMIPE monitoring the major fields on continuous basis • Consultants engaged to suggest proactive approach Contd…

  19. Improvement in Recovery Factor Decision • To develop the fields optimally keeping in view the sound Reservoir Management Practices. Actions Taken • 19 IOR/ EOR projects underway in 15 major fields • 12 IOR/EOR under implementation • 14 IOR Studies programmed • 11 Feasibility Reports are in process • 22 EOR studies in progress at IRS Contd…

  20. Improvement in Recovery Factor Decisions • The proposal for strategic participation with technology-leaders/ service providers for best-available technology solutions agreed in-principle and was desired to be expedited. • ONGC to be operator in all project-based alliances Actions Taken • Special assignment to focus on Strategic Participation/ Alliances • For strategic Project based Alliance with technology leaders a comprehensive MOU placed on ONGC website and correspondences held with leaders in service sector. Response under submission to ONGC board. Contd…

  21. Improvement in Recovery Factor Decisions • Monetization & accelerated development of New & Marginal Fields Action Taken • Special group formed for development of New & Marginal fields • FR ready for Accelerated development of Vasai East, D-1 & G-1 • Dockets for new & marginal fields under preparation • Strategic options and action plan being submitted in 3rd Strategy Meet.

  22. Equity oil

  23. Equity Oil & Gas To bring in 20 MMTpa equity oil from abroad by 2020 Suggested Approach To focus on countries - Indonesia, Russia, Iran, Iraq, Oman, Sudan, Libya, Kazakhstan, Nepal, Algeria, Venezuela … Contd…

  24. Equity Oil & Gas Available equity • Vietnam Gas Project to go on stream by end 2002 • Sakhalin-1 project progressing on schedule; oil to flow from 2005, Gas from 2007 Available block – under exploration • 20% equity taken in an offshore Gas exploration block in Myanmar Contd…

  25. Equity Oil & Gas Decision • To explore the possibility to develop matrix indicating political risk in the countries of interest and should cover these risks through International banks Actions Taken • Government of india has Bilateral Investment Protection Agreements (BIPA) with 44 countries. • OVL refrains from investing in nations which are not covered under BIPA • Internally OVL takes sufficient risk mitigation through the rate of return , turn around time and strong partner approach • Additional safe guard through the insurance covers and guarantees is also being exercised wherever it is felt necessary

  26. Focussing Responsibilty & Accountability

  27. Corporate Rejuvenation Campaign Background • CRC formulated from lessons learnt through Pilots of Organisational Transformation Project (OTP) launched in 1997. • CRC implementation decided in 1st Strategy Meet, July 2001 • Launched with the blessings of Hon’ble Minister (P&NG) on 20.8.2001 Contd…

  28. Corporate Rejuvenation Campaign Status • CRC roll-out complete – Assets, Basins, Services etc., in place • Each business unit has developed methodology to function as ‘Virtual Corporates’ Contd…

  29. Corporate Rejuvenation Campaign Decision • To obtain suggestions on CRC implementation from E-0 officers and above level officers. To be put in next EC meeting for corrective actions, if any Actions Taken • Continued interaction - feedbacks received • Continued Corrective actions Contd…

  30. Corporate Rejuvenation Campaign Decision • Existing gaps in CRC to be plugged Actions Taken • Necessary modifications in PAR, Cadre development, Promotion policy etc., under consideration for alignment as per CRC • Special groups formed for critical areas of operation • Gas Flaring, Corporate IE, CMT, Fire Services etc. Contd…

  31. Corporate Rejuvenation Campaign Decision • Collectives to be shown existing distortions in the organogram due to past promotion policy Actions Taken • Distorted organogram posted on web for wider appreciation • Modular course being developed for under-qualified employees in consultation with ISM, Dhanbad Contd…

  32. Corporate Rejuvenation Campaign Decision • ONGC to submit a proposal on VRS bringing out constraints and dispensations required from the Govt. Actions Taken • Proposal for VRS submitted to the Govt.

  33. Empowerment

  34. Empowerment Background • Board approved modifications in BDP-1994 giving enhanced powers to the • Committee of the Board • Committees of C&MD & functional Directors • C&MD • Functional Directors. • This became effective from 1st August’2001. • Powers below Board level was enhanced w.e.f 1st January’2002 Contd…

  35. Empowerment Decision • To carry out a quick assessment of the impact of empowerment on overall functioning of the organization once the transition is completed. Actions Taken • Quick assessment carried out • HR BDP approved by Board in May’2002 Contd…

  36. Empowerment Decision • To give suitable powers to the location managers to carry time bound activities. Actions Taken • Delegation gaps identified • Comprehensive agenda for revision of BDP to give suitable powers to operational managers under submission to Board

  37. Operational Efficiency

  38. Focus Areas • Non-flowing wells • Gas flaring • Exploratory drilling backlog • Technology • OOR Schemes • Infocom • Offshore Services • Process Simplification

  39. Non-flowing wells Goal Number of non-flowing wells to be reduced to 15% in onland & 5% in offshore by 31.3.2003 Suggested Approach Proactive workover operations Augmentation of Resources Contd…

  40. Non-flowing wells Decision • An agenda to be put up to Executive Committee to review the decision of reducing non- flowing wells. Action Taken • Action plan to reduce the number of non-flowing wells discussed in EC Contd…

  41. Non-flowing wells Decisions • IRS and IOGPT in consultation with Assets & Basins to review categorization of non-flowing wells and bring a paper to EC • Sick wells to be reviewed on priority to make achievable progress. Actions Taken • MDT from IRS, IOGPT & Assets constituted for Categorization of non-flowing wells submitted report • Sick wells being reviewed on continuous basis Contd…

  42. Non-flowing wells Decision • To float tenders for charter-hire of 30 Work-over rigs (25 for onshore and 5 for offshore) for 3 years Actions Taken Onshore • 22 onshore workover rigs of different capacity planned to be charter hired during 2002-03 • Approval accorded to augment 7 workover rigs as per existing contracts on immediate basis • Tender for charter-hiring of 4 additional rigs under process Offshore • Charter hiring of 4 additional Cantilever J/Up rigs under process

  43. Gas Flaring Goal To minimise Gas Flaring Suggested Approach Focus on assets where consumer base exists Creation of necessary infrastructure on fast-track Contd…

  44. Gas Flaring Decision • To minimize gas flaring. Actions Taken • Focused group for – Gas Flaring Control • Required infrastructure identified • Compressor procurement in process • Time-bound action plan to achieve Zero Gas Flaring

  45. Exploratory drilling Backlog Goal To remove backlog in exploratory wells Suggested Approach Activity driven resource mobilization Contd…

  46. Exploration drilling Backlog Decision • To initiate time-bound plan for procurement/up-gradation of the state-of- the-art Drilling Rigs Actions Taken • MOU with BHEL signed on 15.4.2002. Initially contract awarded to BHEL for upgradation of 12 onshore rigs • Proposal submitted for acquisition of 3 offshore jack up rigs

  47. Technology Goal Technology for efficiency Suggested Approach Adoption of best-in-class technology Monetization of idle Assets with technology Strategic participation with technology leaders Contd…

  48. Technology Decision • Employing state-of-the-art and cost-effective technologies. Action Taken • Technology needs worked out in various areas of operation Contd…

  49. Technology Decision • Improving operational efficiency using best-in-class equipment and facilities and continuous up-gradation of skills Action Taken • Technology induction plan through alliances discussed in Board in May’2002. MOU under finalization. Contd…

  50. Technology - Seismic Decisions • Procurement of additional state-of-the-art Seismic Survey vessel • State-of the-art data acquisition, supported with high computing capability for G&G activities Actions Taken • Under Procurement • 1- Vessel for offshore Seismic survey • 10 - Seismic Data Acquisition system • Upgradation of facilities at GEOPIC under process • ‘Virtual Reality Centre’ (Third Eye) to be commissioned in July’ 2002 at Mumbai