New Delhi: India’s largest oil and gas explorer, Oil and Natural Gas Corp. Ltd (ONGC), plans to recruit 1,000 engineers for entry-level jobs at a time when few companies are recruiting engineers from campuses.
“We have already recruited 200 engineers at the entry level this year and will be hiring around 1,000 engineers (in total) this year. Last year (2008-09), we had recruited 1,500 engineers at the entry level. In addition, we have also hired 45 employees at middle and senior management levels,” said A.K. Balyan, director, human resources, ONGC.
ONGC has 31,000 employees on its rolls. Of this number, around 4,000 are employed on 25 offshore rigs. Many operations on rigs are still carried out manually.
“An entry level engineer earns around Rs50,000 per month; they work in a tough environment. We plan to shortly advertise for the positions,” added Balyan.
ONGC’s recruitment drive will benefit engineers sitting for campus placement, said K. Pandia Rajan, managing director and chief executive officer of staffing services and search firm Ma Foi Management Consultants Ltd.
“With crude oil prices recovering, the outlook for the hydrocarbon sector has become positive. There has been a series of recruitment announcements by Indian public sector companies,” Rajan added.
Before the global financial crisis, ONGC had been hit hard by rising attrition levels, as engineers with special technical skills such as drilling oil wells were poached by other companies, following a boom in the country’s energy sector.
With the crisis unfolding, there has been a reverse movement. “A lot of people have evinced interest in joining back. The process is on,” said Balyan.
ONGC plans to invest Rs75,000 crore in the five years to 2012 and hopes to produce 140 million tonnes (mt) of crude oil and 112.4 billion cubic metre of gas in this period
The company registered a net profit of Rs16,126 crore on a turnover of Rs63,949 crore in 2008-09.
The company made 28 discoveries last year and has in place hydrocarbon volume of 284.81 million tonnes oil equivalent.
ONGC shares fell 2.45% on Thursday to end at Rs1,025.20 on the Bombay Stock Exchange. The exchange’s benchmark Sensitive index, or Sensex, fell 77 points to 14,345.62.
On Wednesday, ONGC announced that its net profit fell 3% in the year to March after its share of subsidising sale of fuel below cost increased.