With these 23 discoveries, your Company accreted.32 MMtoe of 2P reserves in the domestic fields. Discoveries put on production Dahej-20, gujarat Suphayam-2, jorhat Akholjuni-29, gujarat dayalpu r-1, jorhat Gandhar-724, gujarat Geleki-390, Assam Nambar-12, jorhat Kesanapalli-west, ap in kg offshore, two new oil finds, each one in shallow water (GS-71) and deep water (G-1-N) have produced much encouraging results during initial production testing. 8 out of 13 onshore discoveries have already been put on production during fy'17 itself. The ultimate reserve of 8 monetized discoveries.4 MMtoe and has production potential.218 MMtoe of ooeg per year. Re-assessment of Hydrocarbon Resources government of India (GoI) initiative for re-assessment of Hydrocarbon Resources in Indian sedimentary basins has been undertaken by your Company. About 100 geoscientists of ongc, in 12 working teams, are on the job. These studies are ongoing in 26 different basins -onshore, shallow water, deepwater.
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Global Recognitions your Company has been ranked number one e p company in the world by Platts Top 250 Global Energy company rankings-2016 and 20th among global energy majors based on assets, revenues, profits and Return on Invested Capital. The leading international business journal Forbes has ranked ongc the 3rd largest in India and 220th worldwide based on sales, profit, assets and market value. Your Company has strengthened its brand position in India, climbing from 10th position during previous year to 7th position, according to a study conducted by consultant Brand Finance. Further, the.2016 eu industrial r d scoreboard' listed your Company at the 12th position in the list of oil and gas companies based on Research and development (R D) expenditure. Performance 2016-17 During fy'17, your Company made 23 Oil gas discoveries out of which 13 were Onland and 10 were Offshore including 4 discoveries in the blocks awarded under nelp. All these 23 discoveries are healthy pointers to the continued performance of the company's exploratory efforts. Details of these discoveries are tabulated as below:. Basin/Sub-basin Hydrocarbon Type Pool/ Prospect dupain nelp/ Nomination 1 KGS092na-sri-1/sri-aa Krishna godavari (kg offshore-sw) Basin Oil gas Prospect nelp 2 B-34-2/B-34-B Mumbai offshore basin Oil gas Prospect pml 3 Suphayam-2/S Ussam Shelf Basin Oil gas Prospect pel 4 Jabera-4/rjbf Vindhyan Basin Gas Prospect pml 5 dayalpur-1/suab Assam Shelf Basin Oil gas Prospect pml 6 B-157N-1/B-157N-A Mumbai offshore basin Oil gas Prospect pml 7 GS-71-1/GS-71-AA Krishna godavari (kg offshore-sw) Basin Oil gas Prospect pml 8 B-154N-1/B-154N-A Mumbai offshore basin Oil gas Prospect pml 9 South Akholjuni/Akholjuni-29/ akap Cambay onland Basin Oil gas Prospect pml. Supahyan and dayalpur have opened up new exploration targets by establishing multilayered hydrocarbon occurrence. With Jabera discovery, your Company brought Bindhayan Basin onto the oil reserve map of India.
mangalore refinery and Petrochemicals Limited (mrpl a subsidiary of your Company, recorded highest-ever throughput.27 mmt during fy'17. mrpl recorded 17 increase in Turnover.599,801 million (Rs.509, 623 million during fy'16) and highest ever Net Profit.32,932 million (Rs.5,058 million in fy'16). ongc tripura power Company Ltd. (otpc) clocked highest-ever Annual Gross Generation of 4,170 million units. six ongc team members successfully accomplished Mission everest. This is first time that a corporate has taken a mission to send its team to mount the real highest peak of the earth. These achievements reflect your Company's proven commitment towards sustained growth and performance excellence. Consistently driven by well-defined growth strategies, your Company delivers and improves performance year-on-year basis which is the benchmark of excellence in various facets of e p activities and has also been well recognized through peer-and-public evaluations.
your Company signed Farm-in/Farm-out (fifo) agreement with gspc on 10th March, 2017 to acquire 80 pi with operatorship in block kg-osn-2001/3. commencement of coal Bed Methane (CBM) field development operations in bokaro and North Karanpura. gross revenue of the company stood.779,078 million and for ongc group database it has been.1,421,490 million. your Company recorded a net Profit.179, 000 million during the year under review. Net Profit of ongc group increased by 59.204, 979 million (Rs.128, 752 million in fy'16). ongc videsh Limited (ovl a wholly owned subsidiary of your Company, registered highest-ever production.80 MMtoe of ooeg during the year. It recorded Gross revenue of '100,800 million and Net Profit.6,974 million (against loss.36,401 million in fy'16).
your Company deployed 35 rigs in offshore, the highest ever and drilled 501 wells again the highest ever (401 development wells, the highest ever). Commercial speed during the year has been 1,472; an increase of more than 24 compared to 2015-16. testing the efficacy of B-90 culture in the wells of Becharaji field Microbial Enhanced Oil Recovery (meor) job was carried out in 3 wells of Bechraji in 2016-17. gas flaring during the year has been 529 mmscm which reduced from.06 (FY'16).40 (FY'17 a reduction of21.6 over the previous year. additional development of Vasai (East facility creation (2 well platforms and Subsea pipeline) completed. 12 wells out of 20 wells drilled and added additional oil production of 7000 bopd. besides 28 ongoing oil and gas development projects, 6 development projects worth.76,700 million have been taken up during fy'17. The projects are nw b-173a, b -147, bse-11, 4th phase of nbp field and r-series and redevelopment of Santhal field.
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(msez) are now operational and have started generating revenue. The significant milestones achieved by your Company during 2016-17: - your Company made 23 Oil and Gas discoveries out of which 13 were Onshore and 10 were Offshore. 4 of these discoveries are in New Exploration and Licencing Policy (nelp) blocks. Focusing on quick monetization, 8 of these discoveries have already been put to production. with these 23 discoveries, your Company accreted.32 MMtoe of 2P reserves in the domestic fields.
Rrr with 2P reserves during the year has been.45. with Jabera discovery, vindhayan Basin has made entry into the oil reserves map of India. with recent discoveries in Kutch offshore, focus is on bringing this new basin on production. your Company has taken up development of kg-dwn-98/2 block in Krishna-godavari (KG) Basin with an investment of more than us 5,000 million (approx. Peak oil from the field is around your 78,000 bpd and gas @.57 mmscmd. gas production commenced from S1 deep Water field (water depth around 280M) in kg basin @.9 mmscmd and the first deep Water gas well to fetch a price of.05 per mmbtu under government approved pricing and market freedom policy. gas sales increased from.08 bcm in fy'16.06 bcm in fy'17; an increase.80.
During the year, your Company produced.25 mmt ofoil against.37 mmt during fy'16. Natural gas production was.09 bcm against.18 bcm during fy'16, thereby recording an increase. Your Company's share in domestic joint ventures' production has been.28 mmt of oil and.18 bcm of gas. Combining the two, total domestic production has been.53 mmt of oil and.27 bcm of gas. Vap production increased from.77 mmt in fy'16.24 mmt in fy'17 (increase of 17) with contribution from C2-C3 and hazira plants.
All joint ventures of your Company established for value-chain integration. E.,- ongc petro-additions Ltd. (opal ongc teri biotech Ltd. (otbl ongc tripura power Company Ltd., (otpc petronet mhb ltd. (pmhbl dahej sez ltd. (dsez) and Mangalore sez ltd.
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We must not forget that our industry has faced numerous challenges in the past and has always come out stronger each time. This 'new normal' will also be defined and influenced by the international political developments in the past one year and the remarkable growth (both in terms of investment as well as capacity addition) of renewable energy sources, adding a further layer of complexity to the. In this prevailing environment of increased volatility and uncertainty, it has become more important than ever for companies to sharpen their focus on promising growth avenues while consolidating their key areas of strength. For your Company, it meant a more aggressive approach to cost optimization and operational efficiencies in our legacy business and stepping up activity in the area of unmonetized discoveries with comprehensive planning and robust project management philosophy. Considering the critical importance of your Company in the country's overall energy infrastructure, business the decisions and actions of today will, to a large extent, not only set the ground for a significant transformation that will enable it to contribute even more expansively to the country's. Despite the challenges of the business and its surrounding environment, your Company along with its group companies has registered yet another year of strong performance and made substantial progress on most of these priority areas. In addition, performance in the other areas of business where your Company has significant interests also recorded important milestones. Backed by an intensive and continuous exploration programme, your Company made 23 oil and gas discoveries in various basins of India out of which eight discoveries have already been monetized.
The challenges that marked the macro environment, viz. Low commodity prices, uncertain demand outlook and slow global economic recovery, in fy'16 persisted in fy'17 as well. Crude prices today are distinctly higher than they were in early 2016. However, resume it would be prudent for oil and gas companies to remain wary as the recovery has not been as robust and stable as one would have liked it. It is reflective of the larger economic environment of the world where secular growth has not returned to the markets post the global financial meltdown and the subsequent Eurozone slowdown. While this extended period of low commodity prices poses challenges for e p companies in terms of ambitious exploratory efforts and development from difficult areas, it is a source of meaningful monetary comfort for an import dependent economy likes ours. That being said, price-related pressures are likely to ease going forward as companies learn to adapt and improvise in this 'new normal' of low prices.
sECT: Petroleum. Bse live, change: Volume: Open: Prv. Close: Today: 52-Wk: Bid: offer: nse live change: Volume: Open: Prv. Close: Today: 52-Wk: Bid: offer: you can view full text of the director's Report for Oil And Natural Gas Corporation Ltd. Director Report Print dear Shareholders, The, on behalf of the board of Directors of your Company, am pleased to share with you the achievements and highlights of your Company during the financial year ended March 31, 2017 and to present the 24th Annual Report. (ongc) and its Audited Financial Statements with the auditors' report and Comments on the Accounts by the comptroller and Auditor General (CAG) of India and the reply of the management thereto.
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Suchas Technologies is not highly sophisticated it company only but it is, also, associated with a group of companies/organizations known as Suchasgroup, which convers software development (it construction, Associates, healthcare, info media and seva more). Punjab Communications Limited was incorporated in 1981. The company is a telecom and information technology (IT) company, which is engaged in the business of manufacturing of telecom products. The companys activities include telecom equipment manufacturing, it and software solutions, turnkey projects, and repair and maintenance. The company provides telecom solutions covering transmission, radio, switching, multiplexing and software. Its products include switching and networking equipments, broadband, wireless, stm1/4/16, power revelation line carrier communication equipment (plcc power plants, security products. The company has tied-up with huawei group for supply of technology products in the transmission, such as synchronous digital hierarchy (sdh dense wavelength division multiplexing (dwdm) and Super wdm to the customers in India. The company has two subsidiaries, namely pcl telecom Limited and Punjab Digital Industrial Systems Limited.