SEBI Reg. Investment Advisor

Download App

Help Center Pricing

Recent:

ONGC’s arm inks agreement to acquire 10% interest in Rovuma Area 1 Offshore Block

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

26 Aug 2013 Evaluate

ONGC Videsh (OVL), the overseas arm of state explorer Oil & Natural Gas Corporation (ONGC), has signed definitive agreements on August 24, 2013 with Anadarko Moçambique Area 1 (Anadarko) to acquire a direct 10% participating interest in the Rovuma Area 1 Offshore Block in Mozambique (Area 1) for $2,640 million. This acquisition is subject to the approvals of the Governments of Mozambique and India, relevant regulatory approvals, pre-emption rights and other customary conditions. The transaction is subject to usual closing conditions and has long stop date of February 28, 2014.

This acquisition of an additional 10% interest in Area 1 follows the company’s earlier announcement of a joint acquisition, with Oil India (OIL), of an indirect 10% interest in Area 1, from Videocon Mauritius Energy. BPRL Ventures Mozambique B.V. (BPRL), another Indian PSU already holds a 10% interest in Area 1.

Area 1 covers approximately 2.6 million acres in the deep-water Rovuma Basin offshore Mozambique and represents the largest gas discovery in offshore East Africa with estimated recoverable resources of 35 to 65 trillion cubic feet. The partners in Area 1 include Anadarko, operator of the project, ENH, Mitsui, BPRL, Videocon and PTTEP. Area 1 has the potential to become one of the world’s largest LNG producing hubs.

The Area 1 LNG project is strategically located to supply LNG to India at a competitive price. Participation of Indian PSUs in the project will facilitate access of LNG to the growing Indian gas market. Indian PSUs would need to devote significant funding and technical resources to the development of the project, which will also enhance the strong links between Mozambique and India.

Further, the acquisition of an interest in Area 1 would mark OVL’s entry into this emerging world-class offshore gas basin with significant future upside potential, and is consistent with OVL’s quest of adding high quality international assets to its existing E&P portfolio. The acquisition would increase OVL’s reserve and resource base significantly. The project would also be an important milestone in reaching OVL’s long-term production targets of 20 MMTOE by FY’18 and 60 MMTOE by FY’30.

ONGC Share Price

283.85 -0.10 (-0.04%)

20-Apr-2026 14:37 View Price Chart

Peers

Company Name	CMP
ONGC	283.85
Oil India	473.20
Jindal Drilling&Inds	547.80
Deep Industries	478.00
Asian Energy Service	316.50
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Fiduciary-first advisory model.
As SEBI-registered IAs, we are legally and ethically bound to act in the best interests of our clients. We do not sell or distribute any financial products. This ensures our guidance is 100% unbiased and conflict-free.
Deep fundamental research + robust valuation discipline.
Built on more than 15 years of equity research, our framework combines quality assessment, intrinsic value estimation, and a sensible margin-of-safety approach.
Process—not predictions.
We don’t rely on guesswork or market timing. Instead, we focus on asset allocation, risk management, and long-term compounding.
Technology + Human Intelligence.
We believe a combination of both is essential for investing success. We constantly innovate and upgrade in-house tools, financial X-rays, and portfolio analytics so that our team of analysts and advisors are equipped with the best.
Partner with Clients.
We follow a DIWM (Do-It-With-Me) approach where we partner clients in setting goals, financial planning, educating on our investing process and share decision-enabling resources transparently with our clients who retain control on execution.

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

Investing in stocks, mutual funds, debt, and gold
Quality-at-Reasonable-Price way of investing in stocks
Constructing Direct Stock Portfolios with Core, Booster, and Amplifier stocks
A Mutual Fund Portfolio that delivers consistent out-performance and meaningful diversification (low overlap)
Periodic review and rebalancing
Clear Buy-Sell-Hold, and Position-sizing frameworks

PROPRIETARY FRAMEWORK

Portfolio
Architecture >
Stock Picking.

Stop managing a collection of "tips." Access the ABC Framework to build a portfolio that survives cycles and compounds wealth.

Core for Stability

Booster for Alpha

Amplifier for Exponential Wealth

Build a Stress-Tested Portfolio.

Our Sapphire Advisory uses the ABC Concept to ensure you never have to panic during a market correction.

Core Stocks

STABILITY

Booster Stocks

GROWTH

Amplifier Stocks

ASYMMETRY

● Conflict-Free ● SEBI Registered ● 15Y+ Track Record

Access Sapphire ABC Strategy →

Limited Capacity for New Fiduciary Partners

ONGC’s arm inks agreement to acquire 10% interest in Rovuma Area 1 Offshore Block

MoneyWorks4Me Premium

Follow us at

MoneyWorks4Me

About MoneyWorks4Me

Our Vision

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

Name of the IA registered with SEBI:	The Alchemists Ark Pvt. Ltd.
Logo:
Trade/Brand Name of IA:	MoneyWorks4Me Investment Advisers
Brand Logo:
SEBI Registration Number:	INA000013323 Validity – May 16, 2019 – Perpetual
Registration:	Non-Individual
BSE Enlistment No:	1187
Address:	B-101, Signet Corner Building, Balewadi Phata, Baner, Pune, Maharashtra 411045
Compliance officer Details:	Name: Shrikant Jagtap Email: shrikant.jagtap@moneyworks4me.com Telephone: +919860359463 Address: Same as IA
Grievance Officer Details:	Name: Mukta Vaze Email: mukta.vaze@moneyworks4me.com Telephone: +91 98609 19463 Address: Same as IA
Principal Officer Details:	Name: Atharva Bhide Email: atharva.bhide@moneyworks4me.com Telephone: +91 91758 99463 Address: Same as IA
Standard Warning:	Investment in securities market are subject to market risks. Read all the related documents carefully before investing.
Disclaimer:	Registration granted by SEBI, enlistment with exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.