Paramus, NewJersey, February Paramus, New Jersey, March 19 , 2014 – Ceragon Networks Ltd. (NASDAQ:CRNT), the #1 wireless hauling specialist, today announced that it was selected to design and build a high-capacity wireless backbone for India’s Oil and Natural Gas Corporation Limited (ONGC). The new network will be used to connect offshore and onshore sites and will replace existing VSAT infrastructure. Ceragon will provide its Evolution™ Long Haul solution along with a range of services including: site-survey, system design and engineering, project management and installation. The full turnkey project is valued at several million US dollars.
ONGC is India’s largest oil and gas exploration and production company. It produces nearly 70% of India’s crude oil and approximately 60% of its natural gas. The company plans to use Ceragon’s proven Evolution Long Haul solution. This advanced network will be used for mission critical applications such as SCADA (supervisory control and data acquisition) and video surveillance. In addition, it will enable ONGC to deliver corporate-wide IT services to all the sites, including SAP applications, internet access, emails and videoconferencing and more.
“More and more players in the oil and gas industry find that the limited bandwidth, high latency and availability of VSAT technology simply cannot support the range of value-add services they require,” said Ira Palti, president and CEO of Ceragon. “Our unique microwave solutions including specialized Offshore Radio Products and Stabilized antenna System (PointLink) for the offshore market are based on more than 30 years of experience in the oil and gas industry.
“By providing hundreds of Mbps, our systems allow exploration companies to enjoy secure, reliable and high-capacity communication at a much more favorable cost-per-bit. Coupled with Ceragon’s proven turnkey service and project management capabilities, blue-chip customers such as ONGC can benefit from a comprehensive offering that truly supports their business,” concluded Mr. Palti.
ONGC’s market capitalization as on 6th January 2014, was INR 240,366 Crore (US$ 38.57 billion). It is the highest valued and highest profit making Government of India enterprise. During the financial year ended 31 March 2013, ONGC Group had produced 58.7 million tonne of oil and oil equivalent gas (mmtoe) (approx. 1.2 mmboe per day), Turnover of INR 165,849 Crore (US$30.45 billion) and profit after tax of INR 24,220 Crore (US$4.44 billion). ONGC Group had total oil and gas reserves of 1,759 mmtoe as on 31 March 2013.