Sea Survival Training

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ओएनजीसी ने वित्त वर्ष 2014 की पहली तिमाही में चार (4) तेल और गैस की खोजों को सूचित किया; अगस्त 2013 में एक और

Declares results of Q1 FY’14; PAT down by 33.9% (Q1-to-Q1)

ONGC notified the following four hydrocarbon discoveries (1 New Prospect and 3 New Pools) in the first quarter of fiscal 2013-14; one more prospect (Saripalem#1) in August’ 13.

New Prospect Discoveries:

1 KGOSN041NANL-2, KG Offshore Basin (NELP-VI)
2 Saripalem#1 (SRM-AA, (Godavari Onland PML, Krishna Onshore basin)
  Exploratory well KGOSN041NANL-2, in NELP block KG-OSN-2004/1, around 21 km south of Narasapur: On testing, Object-I (interval 1249–1231 m) flowed gas @66,601 m3/day through 1/4” choke. This is the 4th discovery in the block, after Chandrika South, Alankari and Saveri, signifying the hydrocarbon potential of the block. This discovery will further boost ONGC’s efforts to attain critical hydrocarbon volumes necessary to ensure viability of a possible cluster development for the block.
  Exploratory well SRM-AA in Godavari Onland PML, Krishna Onshore basin was drilled to a depth of 4,056 m. Interval 3,357 – 3,360 m in Rahgavapuram shale formation on conventional testing produced gas @ 74,600 m3/day through 6 mm bean.

New Pool Discovery:

1 GK-28-9, Western Offshore (Kutch) Basin
2 GK-42-3, Western Offshore (Kutch) Basin
3 Gandhar-686, Western Onland Basin
  Exploratory well GK-28-9 was drilled in the eastern fault block of GK-28 structure in GK-28 PML. On conventional testing, Object-I (interval 1251-1249 m) in Nakhatrana Formation flowed gas @ 2, 21,950 m3/day through ½” choke. This discovery will help in reassessment of estimates in the fault block to the east of wells, GK-28-1 & GK-28-2.
  Exploratory well GK-42-3 was drilled to the NNE (North-North East) of Discovery Well GK-42-1 in the eastern fault block in Western Offshore Basin as an assessment well to upgrade the reserves and assess the potential of the Jakhau reservoir established through GK-42-1. On conventional testing, Object-II (interval 1276.5-1274.5 m) within Nakhatrana Formation has yielded gas @ 2,24,544 m3 per day through ½” choke. This discovery will help reassess estimates in the fault block to the east of well B-42-1.
  Exploratory well Gandhar-686 was drilled in the Gandhar Extension-VI ML area to explore hydrocarbon prospectivity of Gandhar sands GS-5C, GS-6B and GS-9. On testing, Object-III (interval 2659.5 - 2656.5 m), in GS-11 sand, flowed oil @ 75.24 m3/day & gas 6433 m3/day through 6 mm bean. This new pool discovery in the south-west of main Gandhar Field has opened up a significant area for exploration and exploitation.

Physical Performance – Q1, FY’14

  Actual Q1, FY’13 MOU Target (Very Good) Q1, FY’14 ActualQ1, FY’14 % Achievement
Crude oil production (MMT)
ONGC 5.125 5.121 5.100 99.60
PSC-JVs 0.901 0.779 0.907 116.51
Total 6.025 5.899 6.007 101.83
Condensate Receipt
ONGC 0.517 0.544 0.484 88.97
Total Oil + Condensate 6.542 6.444 6.492 100.75
Natural gas production (BCM)
ONGC 5.925 5.779 5.775 99.92
PSC-JVs 0.492 0.425 0.406 95.47
Total 6.417 6.205 6.181 99.61
Gas sales (BCM)
ONGC 4.694 4.570 4.587 100.37
PSC-JVs 0.436 0.356 0.345 96.92
Total 5.130 4.926 4.931 100.12
VAP Production (KT) 751.5 852.0 738.47 86.67

Financial Highlights:

ONGC Board, in its 246th Meeting held on 12th August 2013 approved the financial results for first quarter (Q1) for fiscal 2013-14 (FY-14) as detailed below:

Details Q1 2013-14 Q1 2012-13 % variation FY’13
Sales Revenue (₹ Crore) 19,283 20,149 (-) 4.3 82,552
Net Profit (₹ Crore) 4,016 6,078 (-) 33.9 20,926
Under recovery Discount (₹ Crore) 12,622 12,346 2.24 49,421
Gross Realization(US$/bbl) 102.90 109.18 (-) 5.75 110.74
Net Realization (US$/bbl) 40.17 45.91 (-) 12.50 47.85
Gross Realization (₹ /bbl) 5,757 5,920 (-) 2.75 6,030
Net Realization (₹ /bbl) 2,247 2,489 (-) 9.72 2,606

Under Recovery Discount- Impact on Profit (crores)

Details Q1 FY'13
2013-14 2012-13
Gross Discount 12,622 12,346 49,421
Impact on Statutory Levies 1,819 1,763 7,362
Impact on Profit Before Tax 10,803 10,583 42,059
Impact on Profit After Tax 7,131 7,149 28,413

Other Highlights

a. ONGC signs MoU with RIL on Eastern Offshore facility sharing arrangement
d. OVL is the most internationalized Indian Company: ISB Survey
e. ONGC bags prestigious OISD Awards
f. ONGC receives ‘Golden Peacock Award-2013’ for HSE practices
g. ONGC bags Best CSR Practices Award
h. CMD, ONGC features in the ‘Most Powerful CEOs – 2013’ listing
i. ONGC Boxer Shiva Thapa wins Gold at Asian Championship
j. ONGC Athletes shine at the 20th Asian Athletic Championship
c. ONGC shines among Best Indian Brands 2013
b. ONGC partners in ‘Clean India’ campaign
  ONGC has associated with the Tourism Ministry and Archaeological Survey of India for ‘Clean India Campaign’, initiated for restoration and preservation of India’s historical monuments. The project is part of ONGC’s CSR initiative. Besides the Taj Mahal, ONGC will take up 5 other monuments - Red fort in Delhi, Ellora caves and Eliphanta caves, Golkonda Fort and Shore Temple at Mahabalipuram for restoration and preservation.
  Economic Times-Brand Equity, a premier publication on brands and advertising, has listed ONGC as 14th most valued brand in its exclusive study done together with Inter-brand. The study places ONGC as the most valued brand among non-banking PSUs and has ranked above several popular brands like Maruti, ITC, Axis Bank etc. SBI, a bank, is the only Govt. owned entity above ONGC.
  ONGC Videsh Ltd (OVL) has been ranked as the top Indian company with the most global exposure, as per a survey conducted by the Indian School of Business (ISB) in collaboration with Brazil's Fundacao Dom Cabral. It replaces Tata Steel from the top slot. Among the 15 most internationalized Indian companies, predominated by private sector business concerns, OVL is the only public enterprise.
  ONGC’s Rajahmundry Asset bagged the Oil Industry Safety Directorate (OISD)’s “Best Overall Safety Performance of Oil and Gas Onshore Assets” and “Most Consistent Safety Performer Award” for the year 2011-12. In addition, JV operation at Panna gas field between ONGC, BG and Reliance, operated by BG India won the OISD award for “Best Production Platform – Pvt/JV Companies” for the year 2011-12.
  ONGC received the Golden Peacock Occupational Health, Safety and Environment Award - 2013 in the Oil Production Category.
  ONGC has bagged the 3rd Asia’s Best CSR Practices Award in the Healthcare and Women Empowerment categories, at a ceremony hosted by Corporate Marketing Organisation (CMO), Asia on August 1, 2013 at Singapore. Asia’s Best CSR Practices is the highest recognition for corporates that have made significant and positive impact on the lives of people in their countries.
  In the recently released ‘Most Powerful CEOs-2013’ by the Economic Times CMD, ONGC Shri Sudhir Vasudeva has been ranked amongst the Top CEOs from the public sector industries. The definitive corporate power listing includes top luminaries of Indian business world from both private and public sector.
  Rising star of Indian boxing, Shiva Thapa (56kg), became the youngest Indian Pugilist to win a gold medal at the Asian Championships in Amman, Jordan on July 8, 2013. The 19-year old ONGCian from Assam defeated home favourite Obada Alkabeh on a split decision of 2-1 after fighting out a tactically superior bout.
  ONGC athletes contributed almost fifty per cent of the Medal tally for India in the 20th Asian Athletic Championship held from July 3-7, 2013 at Pune (India) by winning 8 Medals out of 17 won by the Indian team. ONGCians Vikas Gowda (Gold in Men’s Discus Throw) and M R Poovamma (Gold in Women’s 4X400 relay) won two gold medals for the country. Out of 110 athletes who participated from India, 18 were from ONGC.
  ONGC signed an MoU with Reliance Industries Ltd (RIL) on July 27, 2013 to explore the possibility of sharing RIL’s infrastructural facilities on East Coast. Infrastructure sharing shall minimize ONGC’s initial Capex and also expedite ONGC’s field development, resulting in early monetization of its deep-water fields adjacent to the RIL fields.

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