ANNUAL REPORT OF ONGC 2011-12 PDF

Notes to Financial Statements for the year ended 31st March 1. Its Shares are listed and traded on Stock exchanges in India. Significant Group Accounting Policies 2. The financial statements are presented in Indian Rupee and all values are rounded to the nearest million except when otherwise indicated. Use of Estimates The preparation of financial statements requires estimates and assumptions which affect the reported amount of assets, liabilities, revenues and expenses of the reporting period.

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Profit before Exceptional, Extraordinary items and Tax. Also refer note Interest on delayed realization from customers f. Initial-in-Place-Reserves have been established in annial block and a conceptual development plan as part of the proposal for Declaration of Commerciality had been submitted on The dividend proposed by the Board of Directors is subject to the repodt of the shareholders in the ensuing Annual General Meeting. Hence, no adjustment for this sum is made in the accounts towards the lump sum amount due as above.

Syria Shell Petroleum Development B. Balance amount reversed is attributable to Jodhpur and Silchar onshore due to transfer of assets to another CGU and change in estimation of abandonment liability in respect of offshore. Rig Mounted Platform RS A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use.

Any retrospective revision in prices is accounted for in the year of such revision. The financial statements are presented in Indian Rupees and all values are rounded to the nearest million except when otherwise indicated. Provisions are made for obsolete and non moving inventories. The company is not a party to the dispute but has agreed to abide by the decision applicable to the operator.

Previous Year Rs nil. Transfer to General Reserve — 2, Such costs are capitalized by transferring to Producing Property when it is ready to commence commercial production. Company has issued total 4, Subsequent to impairment, depreciation is provided on the revised carrying value of the assets over the remaining useful life. In reportt of acquisition, cost of Producing Properties is depleted by considering the proved reserves. Sustainability Reports The Consortium also ongd the custody and maintenance of such assets and bears all risks of accidental loss and damage and all costs necessary to maintain annuwl assets and to replace or repair such damage or loss.

Use of Estimates The preparation of financial statements requires estimates and assumptions which affect the reported amount of assets, liabilities, revenues and expenses of the reporting period. Cost of sales represents the costs associated with the finance lease contracts. The financial statements are presented in Reportt Rupee and all values are rounded to the nearest million except when otherwise indicated.

Production, Transportation, Selling and Distribution Expenditure. Building annyal cost of undivided interest in land. Balance outstanding as on 31st March is These have been organized into the following main geographical and business segments: All other claims and provisions are booked on the merits of each case.

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Oil and Natural Gas Corporation Ltd.

Capex ONGC had planned a capital investment of Rs , million during 11th Plan period against which actual expenditure has been Rs 1,, million Deployment of more number of rigs and higher day rates can be attributed as the reasons for variation. This puts great onus on companies like ONGC, which has been mandated to secure energy security for the nation. Oil demand is expected to grow by 3. This sets the roadmap fairly well for future strategies for the integrated energy business of ONGC. ONGC has already registered its presence in all these emerging growth areas; however, the World Energy Outlook projections provide opportunities to expand further in these areas. It also sends a signal to further develop the core business of exploration and exploitation of hydrocarbons.

A19ABC 24 PDF

annual report ongc 2011=12

The turnover of PLL during is , million previous year , million and net profit is 10, million previous year Rs 6, million. Dahej SEZ covers the total land area of Hectares wherein Hectares is processing area and 15 Hectares is non-processing area. The SEZ is operational and its turnover during FY is Rs million and profit after tax is Rs million against the turnover of million in FY and profit after tax of million. The accounts of PHHL for are under finalisation. The inking of the MOU is envisaged to go a long way in cooperation between two companies in the areas of shale gas exploration in India , USA and elsewhere in the world; and Deepwater in India.

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