B&E: A few years back, ONGC announced a much publicised strategic plan. Has that helped you handle the economic turmoil any better?
RS Sharma (RS): In 2001, we identified three strategic priorities, i.e., a) Improving our hydrocarbon reserve base; b) Enhancing recovery factor from existing fields; and c) Accessing equity oil from overseas... Time-bound action plans have been rolled out which are at various stages of implementation.
B&E: ONGC is currently contributing 77% of India’s crude oil production and 81% of India’s natural gas production. Do you expect this to continue in the longer term given the fact that ONGC is not integrated completely in the value chain?
RS: ONGC’s long-term strategy (Vision 2020) focuses on strengthening the core activities i.e., Exploration and production of oil & gas. As such, the strategic vision for improving reserve replacement ratio through new exploration finds remains the first priority. As I mentioned earlier, production enhancement, arresting decline in matured fields and expeditious development of discovered fields are the other priorities... Our endeavour would be to complete these projects on schedule and consolidate our efforts towards value-chain integration.
B&E: What will be ONGC’s most critical challenges in the coming years?
RS: Exploration and production of oil & gas remains as one of the most challenging businesses where inputs are deterministic and outputs are probabilistic. As far as ONGC is concerned, critical challenges remain to be to make major new discoveries and sustaining production level from the existing ageing fields. For effectively meeting these challenges, we have structured a framework to develop a suitable solution matrix for these identified blocks, if any.
Read more.....
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face
IIPM – FLP (Flexi Learning Program)
RS Sharma (RS): In 2001, we identified three strategic priorities, i.e., a) Improving our hydrocarbon reserve base; b) Enhancing recovery factor from existing fields; and c) Accessing equity oil from overseas... Time-bound action plans have been rolled out which are at various stages of implementation.
B&E: ONGC is currently contributing 77% of India’s crude oil production and 81% of India’s natural gas production. Do you expect this to continue in the longer term given the fact that ONGC is not integrated completely in the value chain?
RS: ONGC’s long-term strategy (Vision 2020) focuses on strengthening the core activities i.e., Exploration and production of oil & gas. As such, the strategic vision for improving reserve replacement ratio through new exploration finds remains the first priority. As I mentioned earlier, production enhancement, arresting decline in matured fields and expeditious development of discovered fields are the other priorities... Our endeavour would be to complete these projects on schedule and consolidate our efforts towards value-chain integration.
B&E: What will be ONGC’s most critical challenges in the coming years?
RS: Exploration and production of oil & gas remains as one of the most challenging businesses where inputs are deterministic and outputs are probabilistic. As far as ONGC is concerned, critical challenges remain to be to make major new discoveries and sustaining production level from the existing ageing fields. For effectively meeting these challenges, we have structured a framework to develop a suitable solution matrix for these identified blocks, if any.
Read more.....
Source : IIPM Editorial, 2012.
An Initiative of IIPM, Malay Chaudhuri
and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall
Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman
IIPM B-School Facebook Page
IIPM Global Exposure
IIPM Best B School India
IIPM B-School Detail
IIPM Links
IIPM : The B-School with a Human Face
IIPM – FLP (Flexi Learning Program)
