DBS Bank

ONGC Videsh Ltd. (OVL) is a wholly owned subsidiary and the international arm of Oil and Natural Gas Corporation Limited (ONGC), which is India's flagship national oil company. Established in 1965 and rebranded in 1989, OVL focuses on the exploration, development, and production of oil and gas resources outside India. The company holds interests in 32 oil and gas assets across 16 countries, significantly contributing to India's energy needs, accounting for 12% of the country's oil and 7% of its natural gas production. With a strong presence in the global energy market, OVL ranks as the second-largest petroleum company in India in terms of reserves and production, following its parent company, ONGC. The company has expanded its operations beyond its initial projects in Iran and Iraq to include exploration activities in various countries, including Egypt, Yemen, Tunisia, and Vietnam during the 1990s.