On behalf of the Board of Directors of ONGC, country's most valued public sector enterprise,and over dedicated energy soldiers, present to you the. 'To find further information on Our subsidiaries and joint ventures, please refer to ONGC Annual Report , which can be OCCESSed. ONGC ANNUAL REPORT Next.
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Balance Sheet, Profit and Loss Account and Schedules . Financial Year 12, in terms of the provisions of section (2) read with section. the Annual Report for the financial year Crude oil prices balance sheet. In FY'17, your .. He also developed "Well Control Manual for. Offshore .. * * ONGC and KARVY / CDSL for downloading of the Annual Report for Accordingly, the figures of FY , and FY are given ONGC Finance Manual is a compendium based on the existing.
So in August, , the Directorate was raised to the status of a commission with enhanced powers, although it continued to be under the government. In October , the Commission was converted into a statutory body by an act of the Indian Parliament, which enhanced powers of the commission further. The main functions of the Oil and Natural Gas Commission subject to the provisions of the Act, were "to plan, promote, organize and implement programs for development of Petroleum Resources and the production and sale of petroleum and petroleum products produced by it, and to perform such other functions as the Central Government may, from time to time, assign to it ".
The act further outlined the activities and steps to be taken by ONGC in fulfilling its mandate.
In the inland areas, ONGC not only found new resources in Assam but also established new oil province in Cambay basin Gujarat , while adding new petroliferous areas in the Assam-Arakan Fold Belt and East coast basins both onshore and offshore.
This discovery, along with subsequent discoveries of huge oil and gas fields in Western offshore changed the oil scenario of the country. Subsequently, over 5 billion tonnes of hydrocarbons, which were present in the country, were discovered.
In the then Chairman, Keshav Dev Malaviya, held a meeting with some geologists in the Mussoorie office of the Geology Directorate where he accepted the need for ONGC to go outside India too in order to enhance Indian owned capacity for oil production.
This resulted in the discovery of the Rostum oilfield in the early 'sixties, very soon after the discovery of Ankleswar in Gujarat.
It has been a journey marked by uncommon grit, resilience and the power to turn adversity into opportunity. Starting from scratch, we have put India on the world energy map. With our energy footprint in 16 countries, we are geared to anchor Indias energy security.
This was due to discount of These ef forts added With the buoyancy in highest in last 23 years. Our Reserve Replacement international crude prices and greenback strength Ratio of 1. With more ONGC remained the largest producer of crude oil and remunerative pricing of our natural gas and with natural gas in India.
Notwithstanding a 7 per cent subsidy rationalization, significant value remains to natural decline in matured Basins across the globe, be unlocked for your trusted shareholdings. Apart from reinforcing our position as India's Most Admired Energy Company Fortune's listing again, ONGC has achieved an optimised mix of consistent upstream grow th and expansion in sustainable development footprints.
Such structural strength has enabled us to build long-term wealth formation capabilities and deliver outstanding value to our shareholders.
The holistic value creation touches all our stakeholders; many of our stakeholders do not have ONGC shares, but are nevertheless heavily invested in the progress of ONGC. We are recommending an investorworld's best brownfield managers.
It gives me immense of ONGC, like their global counterparts, are into their pleasure to inform you that the Company, for many natural decline phase. ONGC has arrested the decline years running, has been the highest dividend payer in in these fields through significant success in India.
MRPL continues to enhance its market share for Polypropylene with introduction of new and niche grades and also has made in-roads in new geographical areas. The Government of Karnataka has allotted acres of land for this purpose. Necessary steps are being taken to ensure compliance with BS- VI fuel quality standards by the year The project, established at the total outlay of '69, million, commenced commercial operations on October 01, OMPL is a subsidiary of your Company as it holds HPCL owns and operates 2 major refineries producing a wide variety of petroleum fuels and specialties, one in Mumbai West Coast of 7.
During , PPCL achieved total production of 33, barrels of crude oil from domestic oil field at Hirapur Gujarat. PPIPL holds During , PPCL has achieved total revenue of '1, million on consolidated basis as compared to ' million achieved during previous year. During , HBL has recorded total revenue of '1, million and cane crushing of TMT with average sugar recovery of 9.
HPCL and the Government of Rajasthan entered into a revised Memorandum of Understanding on April 18, for the construction of the said Refinery with revised parameters.
The revised Joint Venture Agreement was signed on August 17, The preproject activities for the project are in advanced stage.
The cost of project is estimated to be ', million. The subsidiary will serve the select markets of Middle East and Africa. Balance PMHBL has recorded total Revenue of '1, million as compared to '1, million in the previous year.
Full Annual Reports of subsidiaries of your Company will be made available to any shareholder upon request, which is also available on Company's website. The Government of India is taking action for identifying a strategic acquirer for its entire holding and hence, your Company has also decided to exit PHL along with the Government.
PLL, one of the fastest growing world-class companies in the Indian energy sector, has set up the country's first LNG receiving and degasification terminal at Dahej, Gujarat, and another terminal at Kochi, Kerala. OTPC has set up a The basic objective of the project is to monetize idle gas assets of the Company in landlocked Tripura State and to boost exploratory efforts in the region.
OTPC's both power units of MSEZ is operational since April 01, Presently the equity gap is bridged through quasi equity instruments - Compulsorily Convertible Debentures and Short Term Loan. The project cost of OPaL at completion was Rs,, million.
OPaL has started its production in and has been ramping up its production in phases.