OVL is India's most internationalised company, says survey

OVL chairman DK Sarraf

THE overseas arm of state-owned ONGC, ONGC Videsh Ltd has emerged as the Indian company having the most international exposure for the second consecutive year, says a survey.
The firm has topped the list of 20 most internationalised Indian companies, prepared by Indian School of Business (ISB).
ONGC Videsh was the only state-owned company among the...
top 20 Indian companies which also included six Tata Group firms.
Besides Tata Global Beverages at the third spot, others are Tata Steel (6), Tata Consultancy Services (7), Tata Motors (8), Tata Communications (10) and Tata Chemicals (16).
"Over the last decade, the engagement of Indian companies with overseas markets has undergone a complete transformation. India has gradually become more integrated with the global economy and Indian companies are emerging as important players on the global landscape," ISB said in a statement.
"Indian transnational corporations have significantly increased their international asset base as well as their international revenues over the past decade," it added.
The top 20 Indian companies have been ranked from a list of 29 firms that participated in the survey.
The rankings, which have taken into account figures for fiscal ended March 2013 - are based on three factors: percentage of international assets against total assets, overseas revenues against total revenues and percentage of foreign employees with respect to total headcount.
The methodology is based on the framework and the Transnationality Index (TNI) developed by the United Nations Conference on Trade and Development (UNCTAD).
The group of 20 companies on the list had collectively increased their foreign revenues by 16 per cent, foreign assets by 11 per cent and foreign employees count by 7 per cent - "a noteworthy fact considering that FY2013 was not a good year for the overall investment climate".
ONGC Videsh has stake in 33 oil and gas projects in 16 countries. OVL's portfolio includes producing, discovered, exploration assets and pipeline assets. ONGC Videsh has 13 producing assets, namely, Russia (Sakhalin-I and Imperial Energy), Syria (Al-Furat Petroleum Co.), Vietnam (Block 06.1), Colombia (MECL), Sudan (Greater Nile Petroleum Operating Company), South Sudan (Greater Pioneer Operating Company and Sudd Petroleum Operating Company), Venezuela (San Cristobal), Brazil (BC-10), Myanmar (Block A1 & Block A3) and Azerbaijan (ACG).
ONGC Videsh made successfully new acquisitions in last one and half year by investing more than $4 billion.