Mangalore: ONGC–MRPL celebrates decade, poised to scale greater heights

Pics: Spoorthi Ullal
Daijiworld Media Network - Mangalore (BG)

Mangalore, Mar 30: "Today is a historic day for MRPL as it is completing a decade after being taken over by ONGC in the year 2003. MRPL is set to become a 21 MMTPA Refinery with a Pet coke Gasification Unit and a LAB unit (Linear Alkyl Benzene) in line with ONGC’s Perspective Plan 2030," said Sudhir Vasudeva, CMD, ONGC and chairman MRPL.

He was addressing a press meet here on the occasion of the celebration of ONGC-MRPL's decade of sustained growth from 2003 to 2013, here on Friday March 29.

On March 29, Mangalore Refinery and Petrochemicals Ltd, an ONGC Group company and a mini ratna 1,  completed a decade of  growth after it was acquired by the oil and gas behemoth, Oil and Natural Gas Corporation Ltd (ONGC), a maha ratna and India’s energy anchor.

In 2003 when ONGC revived MRPL, in around a year it turned around from a  net loss of Rs 412 crore  to a net profit of Rs 459 crore; in one year it moved  from the portals of BIFR to BSE 30.

The then 9.69 MMTPA refinery recorded a 10.07 MMT throughput, (104 % capacity utilisation in the first year) and continued to do more than 100% every year often touching 120% capacity utilization.
 
MRPL has processed over 45 different crudes up to now, but three main events of crude receipt are landmarks in the progress of this company:

- When ONGC’s first ever equity Nile blend crude arrived at Mangalore to MRPL  from South Sudan in 2003,

- When Sokol crude arrived from Sakhalin-1 in 2006.

- in 2009 MRPL was the first refinery in India to process the Mangala crude from Barmer fields of ONGC-Cairn.

MRPL produced for the first time in India the EURO III, Euro IV petrol and diesel, in 2006, 2010 respectively and now MRPL is making EURO V diesel.

"Mauritius depends on India and MRPL for its hydrocarbon energy requirements. It twice renewed and ramped up the supply agreement. Recently, MRPL has translated its dream of growing into a 15 MMTPA refinery through a brownfield expansion project of 16.6MMTPA with an ancillary Single Point Mooring project.

In line with the vision of ONGC, and ONGC’s Perspective Plan 2030, MRPL is all set expand into a 21 MMTPA refinery with a  Pet coke Gasification Unit and an LAB unit. The company also plans  to diversify into petrochemicals.

A Polypropylene plant is getting ready in MRPL Phase III and a JV company  in which MRPL has a take, ONGC-Mangalore Petrochemicals Ltd (OMPL) is off to a running start and is expected to  commission its aromatic plant by September 2013.

In 2007, MRPL, India’s most energy efficient refinery became a mini ratna 1 and us now aspiring to become a Schedule A company.

ONGC's purchase of a majority stake in equity Mangalore Refinery and Petrochemicals Limited (MRPL), is a standout testimony of ONGC's integrated business model.  Besides adding that desired comfort to this company in mitigating higher risk of E&P operation, this deal also set an example in the Indian business history where a PSU has taken over a joint stock company and turned it around in a record time of one year.

Today, Oil and Natural Gas Corporation Ltd (ONGC) is, the leader in Exploration & Production (E&P) activities in India having 72% contribution to India’s total production of crude oil and 48% of natural gas. ONGC has established more than 7 Billion Tonnes of in-place hydrocarbon reserves in the country. In fact, six out of seven producing basins in India have been discovered by ONGC. ONGC produces more than 1.27 million Barrels of Oil Equivalent (BOE) per day. It also contributes over three million tonnes per annum of Value-Added-Products including LPG, C2 - C3, Naphtha, MS, HSD, Aviation Fuel, SKO etc.
 
Speaking on the occasion, P P Upadhyaya, managing director, MRPL said that the firm has not only accomplished business aspects, but has also engaged itself in various social service activities as well.

MRPL’s  Samrakshan, the Corporate Social Responsibility programme is also scaling up its involvement in ushering a sustainable development across fields of health, education, infrastructure, sanitation, water and water management, enabling women and the weak and vulnerable, protection and preservation of cultural heritage and environment  in line with ONGC’s vision of making tomorrow brighter.

Recently MRPL has committed to building a new 12,000 sq feet, 5 floor block for the 162-year-old Lady Goschen Hospital with an outlay of Rs 21 crore.

Ten major initiatives have been taken under this CSR Programme that includes Rs 36 lac worth scholarship to students of various schools and colleges, a computer lab to Harekala Hajabba’s school, a generator to another school in the city, fish vending vehicles for Mogaveera Vyavasthapaka Mandali, bus shelters, digital classrooms for few schools, road cleaning machines, renovation of a museum in the city, water management system that helps both the district administration and MRPL for the good flow of water across the times and many other projects.

On the other hand, with a view to enrich and encourage the tourism in our nation, ONGC-MRPL is bound to maintain six major national monuments that includes Taj mahal, Ajantha - Ellora, Sun temple, Chatrapathi Shivaji terminus, Buddh Gaya and others.

Vishnu Agarwal, girector (finance), MRPL was also present on the occasion.