ONGC Videsh Invests $60 Million to Expand in Azerbaijan
OIL & GAS

ONGC Videsh Invests $60 Million to Expand in Azerbaijan

ONGC Videsh, the international arm of Oil and Natural Gas Corporation (ONGC), is expanding its global footprint by investing $60 million in Azerbaijan. This strategic move aims to enhance the company's presence in the oil and gas sector and capitalise on emerging opportunities in the region.

The investment focuses on acquiring stakes in key oil fields, including projects that promise substantial returns. Azerbaijan, known for its rich hydrocarbon resources, offers lucrative prospects for energy companies looking to broaden their portfolios.

ONGC Videsh?s decision aligns with its long-term strategy to diversify assets and strengthen its international operations. By entering the Azerbaijani market, the company seeks to leverage local partnerships and advanced technologies to optimise production and exploration activities.

This investment marks a significant step in ONGC Videsh?s efforts to expand its overseas ventures, contributing to India's energy security. The company is committed to exploring further opportunities in Azerbaijan and other regions with high potential.

Analysts view this move as a positive development for ONGC Videsh, enhancing its competitiveness in the global energy market. The company?s focus on strategic investments and international collaborations is expected to drive growth and ensure sustainable returns.

With this expansion, ONGC Videsh reaffirms its commitment to becoming a leading player in the global oil and gas industry. The investment in Azerbaijan is a testament to its vision of achieving growth through strategic diversification and international partnerships.

ONGC Videsh, the international arm of Oil and Natural Gas Corporation (ONGC), is expanding its global footprint by investing $60 million in Azerbaijan. This strategic move aims to enhance the company's presence in the oil and gas sector and capitalise on emerging opportunities in the region. The investment focuses on acquiring stakes in key oil fields, including projects that promise substantial returns. Azerbaijan, known for its rich hydrocarbon resources, offers lucrative prospects for energy companies looking to broaden their portfolios. ONGC Videsh?s decision aligns with its long-term strategy to diversify assets and strengthen its international operations. By entering the Azerbaijani market, the company seeks to leverage local partnerships and advanced technologies to optimise production and exploration activities. This investment marks a significant step in ONGC Videsh?s efforts to expand its overseas ventures, contributing to India's energy security. The company is committed to exploring further opportunities in Azerbaijan and other regions with high potential. Analysts view this move as a positive development for ONGC Videsh, enhancing its competitiveness in the global energy market. The company?s focus on strategic investments and international collaborations is expected to drive growth and ensure sustainable returns. With this expansion, ONGC Videsh reaffirms its commitment to becoming a leading player in the global oil and gas industry. The investment in Azerbaijan is a testament to its vision of achieving growth through strategic diversification and international partnerships.

Next Story
Resources

Madhya Pradesh Champions Inclusive Tourism at Heritage Sites

On the occasion of World Heritage Day, Madhya Pradesh is taking a significant step toward inclusive tourism by making its historical sites accessible to all — especially persons with disabilities. The state is rolling out its ‘Accessibility Infrastructure and Development’ project at Maheshwar, Mandu, Dhar, and Orchha, aiming to create a more welcoming experience at these iconic cultural destinations.The initiative, under the leadership of Chief Minister Dr Mohan Yadav and Tourism Minister Shri Dharmendra Bhav Singh Lodhi, includes infrastructure upgrades such as ramps, Braille signage, w..

Next Story
Resources

Runwal Realty Onboards Sonam Kapoor as Brand Ambassador

Real estate major Runwal has unveiled a refreshed identity as Runwal Realty, signalling a renewed commitment to crafting spaces that stand the test of time. With this refresh, the brand unveils its new philosophy: “Building for Generations to Come” and welcomes Bollywood star and global fashion icon Sonam Kapoor as its brand ambassador. This evolved identity reflects Runwal Realty’s commitment to creating not just homes, but heirlooms—crafted through visionary design, meticulous planning, global design expertise and an unwavering focus on quality. With the customer at its core, each de..

Next Story
Infrastructure Urban

Emerging Trends in Infrastructure and Transport 2025: KPMG

KPMG’s latest report, The Great Reset: Emerging Trends in Infrastructure and Transport 2025 edition, sheds light on the profound changes transforming the global infrastructure landscape. As industries adapt to the challenges posed by climate change, economic pressures, and technological advancements, the report identifies key trends and provides actionable insights for leaders in infrastructure and transport sectors. “In today’s interconnected world, the lack of standardized supply chain practices is not just an operational challenge—it’s an environmental and economic one. We’..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?