ONGC Full Form, History, Vision and Mission, Objectives, Salary

ONGC Full Form- ONGC is an abbreviation for Oil and Natural Gas Corporation. It is an Indian multinational corporation that is one of the country's top producers of oil and natural gas. Its headquarters are located in Dehradun, Uttarakhand, India.

ONGC is a public-sector enterprise administered by the Ministry of Petroleum and Natural Gas. It contributes around 70% of total crude oil production in India and approximately 60% of total natural gas production in India.

What is the Full Form of ONGC?

ONGC is an abbreviation for Oil and Natural Gas Corporation. It is an Indian enterprise that also happens to be a multinational organisation. ONGC is a government-owned organisation that ranks among the top oil and natural gas producers. It is governed by the Ministry of Petroleum and Natural Gas.

ONGC owns and operates about 11,000 km of pipelines and is actively engaged in the finding and exploration of hydrocarbons in 26 sedimentary basins in India. ONGC Videsh's foreign subsidiaries now have projects in 15 countries. ONGC has discovered around 7.15 billion tonnes of in-place oil and gas in Indian basins, accounting for seven of the eight producing Indian basins. On August 14, 1956, the Indian government established ONGC.

ONGC has spread its roots outside of India as OVL (ONGC Videsh Limited). ONGC has several locations: For example, in South America (Cuba, Colombia, Brazil, and Venezuela) and Africa (Libya, Nigeria, Sudan, and Mozambique).

ONGC Overview

Oil and Natural Gas Corporation (ONGC) is a state-owned Indian oil and gas firm based in Dehradun, Uttarakhand. It is a Government of India Public Sector Undertaking (PSU) that reports to the Ministry of Petroleum and Natural Gas. The Government of India established ONGC as a public sector firm on August 14, 1956. It is India's largest integrated oil and gas corporation. It supplies over 77% of India's crude oil (1.7 million barrels per day) and approximately 62% of the country's natural gas (111 million cubic metres per day). In 2018, ONGC was placed 363rd on the Fortune Global 500 list of the world's largest corporations.

ONGC History

• After India gained independence in 1948, the government of India observed the importance of oil and gas in the expansion of Indian industries and sought to develop the hydrocarbon industry.
• An Oil and Natural Gas Directorate was established in 1955 under the Ministry of Natural Resources and Scientific Research to develop the country's oil and natural gas resources.
• The Indian Parliament passed the Industrial Policy Resolution in 1956, which included the oil and gas industry among the Schedule 'A' industries. The Oil and Natural Gas Directorate was renamed Oil and Natural Gas Commission.
• ONGC was reorganised as a limited company under the Company Act of 1956 in February 1994.It was renamed Oil and Natural Gas Corporation (ONGC) after becoming a public-sector enterprise.
• In 1999, ONGC and Indian Oil Corporation (IOC) decided to buy each other's stakes in order to boost their domestic and worldwide operations.
• To access the worldwide market, ONGC formed ONGC Videsh Ltd. (OVL) as a subsidiary in 2002-03.
• In 2010, ONGC was designated as a "Maharatna" PSU.

Also Read: ONGC Recruitment Through GATE 2023

ONGC Vision and Mission

The goal of ONGC is to be the global leader in the integrated energy sector by sustainable growth, unmatched knowledge, and excellent governance practices.

ONGC's mission contains-

• Committed to excellence via engaged staff and competitive advantages in research and development and technology.
• Set high expectations for organisational principles and business ethics.
• Consistent commitment to environmental, health, and safety issues in order to improve community life.
• Cultivate a culture of trust, openness, and mutual concern to create an environment where working is engaging and challenging for our employees.
• Provide high-quality goods and services to ensure customer satisfaction.

ONGC Objectives

• To acquire the entire or any portion of the Oil & Natural Gas Commission's venture, company, assets/liabilities, privileges, authority, goodwill, advantages, operations, and associated establishments of any kind, as well as to enter into and carry out such agreements, contracts, and provisions as may become necessary.Preparing, encouraging, organising, and carrying out programs for the development of petroleum resources, the production and marketing of petroleum and petroleum products, and other connected matters.
• Conduct hydrocarbon exploration, development, and optimisation in order to maximize the country's economic contribution.
• Exploration of oil reserves through geological, geophysical, or other studies; drilling and other prospecting operations
• To investigate oil reserves using geological, geophysical, or other methods; to prospect for and drill for oil.

ONGC Products

Some of the products of Oil and Natural Gas Corporation are listed below.

• Crude Oil
• Natural Gas
• Ethane
• Motor Spirit
• Superior Kerosene Oil
• High-Speed Diesel (HSD)
• Liquefied Petroleum Gas (LPG)
• Aromatic Rich Naptha

ONGC Posts

Candidates are hired for various positions at ONGC depending on the skills they currently possess, assuming they match the eligibility requirements. Furthermore, candidates must pass all stages of the employment screening procedure. The jobs for which the candidates are hired carry out the ONGC authorities' tasks and obligations. Candidates must be acquainted with the various positions available at ONGC. The following are the specifics of these postings:

• Executive Director
• Group General Manager
• Chief General Manager
• General Manager
• Deputy General Manager
• Chief Manager/Chief Geophysicist/Chief Geologist/Chief Chemist/Chief Engineer
• Manager/Superintending Geophysicist/Superintending Geologist/Superintending/Chemist Superintending Engineer
• Senior Officer/Assistant Executive Engineer/Senior Geologist/Senior Chemist
• Officer/Assistant Executive Engineer/Geophysicist/Geologist/Chemist
• Assistant Officer/Assistant Engineer/Personal Secretary
• Chief Superintendent/Senior Foreman
• Senior Superintendent/Senior Foreman
• Superintendent/Foreman
• Assistant Superintendent/Assistant Foreman
• Junior Engineer/Junior Superintendent/Junior Accountant
• Topman/Chargeman/Assistant Grade I
• Junior Technician/Rig man/Assistant Grade-II
• Assistant Junior Technician/Assistant Rig man/Assistant Grade III
• Junior Assistant Technician/Junior Assistant
• Head Worker
• Deputy Head Worker
• Senior Worker
• Attendant Grade -I
• Attendant Grade -II
• Attendant Grade -III
• Junior Attendant

Suggested Read: ONGC Recruitment 2023, Upcoming ONGC Jobs 2023

ONGC Salary

ONGC employees are paid a minimum of INR 10,000 and a maximum of INR 300,000 per month. Compensation is paid based on the position held by each ONGC official. In addition to their pay, the officers receive monthly emoluments such as gratuities, provident fund contributions, medical reimbursements, housing rent allowances, dearness allowances, and other benefits defined by ONGC. Candidates can examine the ONGC Salary Structure 2023, Allowances, Job Profile, and many other important facts on the official website: ongcindia.com.