The Oil and Natural Gas Corporation (ONGC) media and creative pitch has entered the final stage. The pitch has been called as there is a lock-in period of 2-3 years of agency empanelment. The incumbent agencies are Rediffusion Y&R, Grey Worldwide, RK Swamy BBDO and Bates141.
As per the contract, the empanelment was valid from December 2007 to December 2009. The empanelment of the current four agencies was announced in November 2007. Prior to that, Grey Worldwide and RK Swamy BBDO were already empanelled with ONGC at the end of 2004 for around two and a half years. Rediffusion Y&R and Bates141 were then brought on board for the first time. The media arms of these agencies were responsible for the media planning and buying.
The size of the account is estimated to be in the vicinity of Rs 30 crore. However, no official comments were available at the time of filing the report.
ONGC is a public sector petroleum company in which the Government holds a 74.14 per cent stake, the other stakeholders include Indian Oil Corporation and Gas Authority of India Ltd.