ONGC rises as its arm completes 15% stake acquisition in Rosneft Oil Company

Oil & Natural Gas Corporation Ltd. | Oil Exploration | Oil & Gas | BSE: 500312 | NSE: ONGC

01 Jun 2016 Evaluate

Oil & Natural Gas Corporation is currently trading at Rs 212.10, up by 0.95 points or 0.45% from its previous closing of Rs 211.15 on the BSE.

The scrip opened at Rs. 212.00 and has touched a high and low of Rs. 213.35 and Rs. 211.80 respectively. So far 152090 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 5 has touched a 52 week high of Rs. 330.00 on 01-Jun-2015 and a 52 week low of Rs. 188.00 on 12-Feb-2016.

Last one week high and low of the scrip stood at Rs. 221.40 and Rs. 208.10 respectively. The current market cap of the company is Rs. 181504.72 crore.

The promoters holding in the company stood at 68.93% while Institutions and Non-Institutions held 17.45% and 13.62% respectively.

ONGC Videsh, a wholly owned subsidiary of Oil and Natural Gas Corporation (ONGC), has completed acquisition of 15% equity from Rosneft Oil Company, in JSC Vankorneft, a company organized under the law of Russian Federation which is the owner of Vankor Field and North Vankor license. Rosneft, the national oil company of Russia continues to hold the remaining 85% shares of JSC Vankorneft. Earlier in September, 2015, ONGC Videsh and Rosneft have signed agreement for ONGC Videsh to acquire not less than 15% shares in JSC Vankorneft, for a consideration of USD 1,268 million.

Vankor is Rosneft's (and Russia's) second largest field by production and accounts for 4% of Russian crude oil production. The daily peak production from the field is around 442,000 barrels of oil per day (bopd). With 15% shareholding, the compaany’s share of daily oil production would be about 66,000 bopd.

The present transaction strengthens the company’s presence in Russia and is consistent with its stated strategic objective of adding high quality international assets to its existing E&P portfolio. This acquisition also has significant strategic importance to India, both in terms of augmentation of India's Energy Security as well as adding a new dimension to the relationship between Rosneft and ONGC Videsh besides further strengthening the cooperation between the two countries. With this acquisition, the company now has 37 projects in 17 countries including Azerbaijan, Bangladesh, Brazil, Colombia, Iraq, Kazakhstan, Libya, Mozambique, Myanmar, Russia, South Sudan, Syria, Venezuela, Vietnam and New Zealand.

ONGC Share Price

280.70 -9.10 (-3.14%)

06-May-2026 16:59 View Price Chart

Peers

Company Name	CMP
ONGC	280.70
Oil India	449.80
Jindal Drilling&Inds	525.80
Deep Industries	456.75
Asian Energy Service	297.55
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