ONGC eyes on Strategic Roadmap 2040 -Governance Now

ONGC eyes on Strategic Roadmap 2040

ONGC CMD says the energy giant is making efforts to explore opportunities for sustaining growth and fulfilling the dream of becoming a global energy leader

GN Bureau | January 29, 2019

#ONGC #global energy #Sashi Shanker #Strategic Roadmap 2040 #energy security #hydrocarbon production

ONGC CMD Sashi Shanker has recently said the energy major is contemplating a vision document ‘Strategic Roadmap 2040’ to craft the enterprise’s strategy as an integrated energy major with a long-term perspective.

“The document would reframe the vision and recast the objectives of Perspective Plan 2030”, he said. The plan was ONGC’s earlier vision document that outlined strategic goals for the growth of organisation and for the energy security of the nation.

“Our portfolio has seen a metamorphic change in the last decade. Today, our business portfolio includes E&P, refining, petrochemicals, LNG, pipelines, retail, SEZ infrastructure and power. While these developments open up new vistas and opportunities for the PSU, they also add layers of complexity to our decision-making and strategic framework”, Shanker said.

He said ONGC is making efforts to explore opportunities for sustaining growth and fulfilling the dream of becoming a global energy leader. The exercise envisages evaluating potential growth areas both domestic and overseas to enable ONGC prioritizing suitable actions well in advance.

He said overall, 2018 fiscal was a solid year for ONGC. ONGC’s standalone hydrocarbon production increased year on year. Crude oil output increased marginally from 2017 FY levels while gas output increased by over six percent to 23.5 billion cubic metre from 22.0 BCM in 2017.

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