The Oil and natural Gas Corporation, India's highest profit making firm, is sending its employees back to school to learn the ropes of doing business in the globalised environment.

After introducing full-time diploma and degree courses for skill enhancement of its technical personnel, ONGC on Monday tied up with Indian Institute of Foreign Trade for launching a special MBA course in international business for its middle-level executives.

"We are not only drilling more wells and acquiring oil and gas fields abroad, we are also working in a very deliberate and planned way in capacity building -- both in reserve accretion and human resource development," ONGC Chairman and Managing Director Subir Raha said at the launch of the first MBA programme.

In the globalised scenario, where both raw material and finished products are priced on international benchmarks, the process of converting input to output should also be of international standards, he said, emphasising that the two-year full-time MBA course will train mid-career executives in doing international business.

Last year, ONGC had tied up with Punjab University to launch degree and diploma courses in various engineering disciplines for its technical staff. It plans to tie up with MDI, Gurgaon, for another MBA programme that would impart regular management skills to company executives.

"We also have a programme with Indian School of Business, Hyderabad, for officers in the ranks of deputy general manager and above for developing them for assignments on company board," he said.

"We are investing about Rs 25 crore (Rs 250 million) in the engineering and MBA programme aimed at enhancing capacity of our employees," Raha said.

ONGC chose IIFT for MBA programme in international business as it is one of the most reputed institutes for training in trade and commerce and developing international managers.

IIFT Director General Prabir Sengupta said IIFT's MBA programme covers international dimensions much more than other institutes do.

"The programme for ONGC employees has been customised to suit the needs of oil and gas industry," he said.

The entrance test organised by IIFT for ONGC executives was on the lines of its regular process. For ONGC, IIFT conducted special written tests at five centres across India.

It received 340 applications initially, out of which 80 employees were called for group discussions and interviews.

Finally, 20 employees were selected for the full-time course. Like in engineering course (where 150 technical staff is studying various streams), ONGC employees will go on a sabbatical at company's expense, Raha said.