ONGC Notifies 6 Oil & Gas Discoveries in 3rd Quarter FY 2013
OREANDA-NEWS. ONGC Board, in its 240th Meeting approved the financial results for 3rd quarter (Q3).
Major Highlights
Six New Discoveries in 3rd Quarter FY’13 :
|
Well Name |
Basin |
Type |
Acreage |
|
MBS051NBA-1 |
Western Offshore |
New Prospect |
MB-OSN-2005/1 |
|
Pandanallur-7 |
Cauvery Onland |
New Prospect |
CY-ONN-2004/2 |
|
Mandapeta West-12 |
KG Onland |
New Pool |
1B PEL |
|
Anklav-9 |
Western Onland |
New Pool |
Anklav Extension-I PML |
|
Motera-36 |
Western Onland |
New Pool |
Motera Extension-II PML |
|
Motera-36 |
Western Onland |
New Pool |
Charada-Mansa Extension-II PEL |
Till 30th September, 2012 (first half of FY2013), the following ten discoveries were made:
|
Well Name |
Basin |
Type |
Acreage |
|
Phulani-1 |
A&AA |
New Prospect |
Merapani PEL |
|
Koravaka-1 |
KG Onland |
New Prospect |
Adavipalem-Ponnamanda PML |
|
Vadatal-5 |
Western Onland |
New Prospect |
CB-ONN-2004/1 |
|
Bantumilli South-1 |
KG Onland |
New Prospect |
1B PEL |
|
C-39-14 |
Mumbai Offshore |
New Pool |
BOFF-1/2/3 PEL |
|
Aliabet-4 |
Gulf of Cambay |
New Pool |
CB-OSN-2003/1 |
|
Madanam-3 |
Cauvery Onland |
New Prospect |
CY-ONN-2002/2 |
|
Mukkamala-1 |
KG Onland |
New Prospect |
1B PEL |
|
BH-68 |
Mumbai Offshore |
New Pool |
BOFF-1/2/3 PEL |
|
D-1-D#1 |
Mumbai Offshore |
New Pool |
D-1 Field PML |
ONGC’s Physical Performance
Production of Oil, Gas and Value-Added Products:
ONGC’s Standalone Performance for Q3 FY’13 & 9-Months FY’13 compared to Q3 FY’12 & 9-Months FY’12 figures:
|
|
Q3 |
9 Month | ||||
|
|
2011-12 |
2012-13 |
% |
2011-12 |
2012-13 |
% |
|
Crude oil production (Million Metric Tonnes) |
6.244 |
6.055 |
(-3.02) |
18.912 |
18.095 |
(-4.35) |
|
Condensate receipt (MMT) |
0.498 |
0.529 |
6.22 |
1.427 |
1.559 |
9.25 |
|
Natural gas production (MMSCM) |
6,402 |
6,344 |
(-0.90) |
18,951 |
19,120 |
0.90 |
|
Gas sales(MMSCM) |
5,026 |
5,023 |
0.06 |
14,974 |
15,210 |
1.58 |
|
VAP production (KT) |
831 |
822 |
(-1.00) |
2,387 |
2,366 |
(-0.88) |
Reasons for shortfall in Q3 2012-13:
Crude oil :
|
• |
In Eastern Offshore Asset production has been restricted due to high GOR & for better reservoir management. In Ahmadabad Asset and Cambay production affected due to increase in water cut power shutdowns. At the same time Akholjoni field in Cambay is showing decline in production. |
Natural gas production :
|
• |
Natural gas production was affected in Mumbai High and Cauvery assets due to less off-take by the consumers. While lack of consumers affected gas production in Tripura. |
Financial Highlights:
Financial results for 3rd quarter (Q3) and 9-Months (9M) for fiscal 2012-13 (FY-13) as detailed below:
|
Details |
Q2 |
Q3 |
% |
9 Month |
9 Month |
% |
FY'12 |
|
2011-12 |
variation |
2012-13 |
2011-12 |
variation |
|||
|
Sales Revenue |
21,089 |
18,199 |
15.9 |
61,090 |
57,154 |
6.9 |
76,130 |
|
Net Profit |
5,563 |
6,741 |
(17.5) |
17,537 |
19,479 |
(10.0) |
25,123 |
|
Under recovery Discount |
12,433 |
12,536 |
(0.82) |
37,108 |
30,296 |
22.5 |
44,466 |
|
Gross Realization (USD /bbl) |
110.16 |
111.48 |
(1.2) |
109.72 |
116.01 |
(5.4) |
117.40 |
|
Net Realization (USD /bbl) |
47.97 |
44.71 |
7.3 |
46.90 |
58.38 |
(19.7) |
54.71 |
|
Gross Realization (Rs./bbl) |
5,964 |
5,686 |
4.9 |
5,984 |
5,470 |
9.4 |
5,629 |
|
Net Realization (Rs./bbl) |
2,597 |
2,280 |
13.9 |
2,558 |
2,753 |
(7.1) |
2,624 |
Under Recovery Discount- Impact on Profit (crores)
|
Details |
Q3 |
9 Month |
FY'12 | ||
|
2012-13 |
2011-12 |
2012-13 |
2011-12 | ||
|
Gross Discount |
12,433 |
12,536 |
37,108 |
30,296 |
44,466 |
|
Impact on Statutory Levies |
1,686 |
1,920 |
5,264 |
4,647 |
6,667 |
|
Impact on Profit Before Tax |
10,747 |
10,616 |
31,844 |
25,649 |
37,799 |
|
Impact on Profit After Tax |
7,260 |
7,172 |
21,512 |
17,327 |
25,535 |
|
Corporate Highlights a. Two more CDM projects registered with UNFCCC
ONGC’s two CDM (Clean Development Mechanism) projects - Green Building at Mumbai (UNFCCC ref no 7578) and Green Building at Dehra Dun (UNFCCC ref no 7634) - have been registered with the United Nations Framework Convention on Climate Change (UNFCCC) in January’ 2013 (on 2nd and 4th Jan) with expected annual accruable CER of 544 and 735 respectively for a period of 21 years. With these, ONGC gets 8 of its CDM projects registered with UNFCCC. b. ONGC ranked at 386 in Newsweek Green Ranking 2012
ONGC has been ranked at 386 in the Newsweek Green Rankings 2012 Global 500 list [15th among Global Energy majors] published by the international magazine Newsweek. The rankings provide cross-industry framework for comparing the environmental commitment and performance of major companies. The ranking methodology uses publicly disclosed environmental data from sources such as company's Sustainability Report etc. Among 13 Indian companies featured in this list ONGC is placed at 9th position. However, most of the companies ranked above ONGC are mostly from IT and banking sector which have lesser environmental footprint and impacts. Among global petroleum companies ONGC (global#386) has been ranked at 15 behind Petrobras (global#309), Shell (global#348), and BP (global # 371). While Energy majors Chevron and Conoco Philips are ranked at # 409 and # 425 respectively. c. ONGC wins 3 PSE Excellence awards instituted by ICC
ONGC won three PSE Excellence Awards 2012 for "Best Financial Performance", "Best Corporate Governance" and "Environmental Excellence & Sustainable Development" instituted by the Indian Chamber of Commerce (ICC). The awards were given on 20th Dec 2012 at New Delhi.
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