OREANDA-NEWS. ONGC's foreign operations arm OVL bagged the best PSU award in the oil and gas sector at the Dainik Bhaskar India Pride Awards on December 19, 2013. CMD ONGC and Chairman OVL Mr Sudhir Vasudeva received the prestigious award from Dr M M Pallam Raju, Union Minister of Human Resource Development and the chief guest on the occasion.

India Pride Award to OVL; Chairman Sudhir Vasudeva receives the award from HRD Minister Dr M M Pallam Raju

Speaking about 'India's biggest MNC', Chairman Vasudeva said in a tongue-in-cheek manner that at a time when PSEs are the backbone of India's growth story, they are still the 'favorite whipping boy for the Media' and so when ONGC and OVL get praised, it 'feels a little awkward'. Mr Vasudeva said that awards like these are welcome recognition to India's real growth drivers.

ONGC Videsh is a wholly owned subsidiary of Oil and Natural Gas Corporation Limited (ONGC), the National Oil Company of India, and is India's largest international oil and gas E&P Company. Presently ONGC Videsh has participation in 32 projects in 16 countries including Azerbaijan, Brazil, Colombia, Iraq, Kazakhstan, Libya, Myanmar, Russia, South Sudan, Sudan, Syria, Venezuela and Vietnam. ONGC Videsh is currently producing 160 thousand barrels of oil and oil equivalent gas per day and has total oil and gas reserves of about 433 mmtoe as on 31 March 2013.