Charting out very ambitious plan to double output, triple revenue and EBITDA by 2030, company has prepared blueprint which targets two-fold rise in production, three-fold rise in revenue and EBITDA, four-fold rise in market cap and six-fold growth in contribution from overseas assets ny the year 2030.
In an effort to diversified earning and reduce dependence on Exploration by foraying into city gas distribution. Company targets to achieve by the year 2030 a total of 30% of its revenue to come from non-exploration business.
In its Blueprint company wants overall growth in all aspect of business, In refining company aims to achieve 21 mn tn capacity with the help of MRPL by 2030. In overseas exploration business company aims for a production of 20 mln tn oil equivalent through its wholly owned arm ONGC Videsh Ltd. ONGC is also looking at power generation capacity of 6,500 MW and a sizable portfolio of liquefied natural gas assets.
Company has identified areas of challenge also i.e. maintaining output from mature field will not be a easy task going forward. Declining output, regulatory issues, under recovery and slow shale gas extraction efforts are needs to be tackled as soon as possible in order to achieve desired result.