ANNUAL REPORT OF ONGC 2011-12 PDF

A N N U A L R E P O R T 2 0 1 0 – 2 0 1 1 .. Financial Year , in terms of the provisions of section (2) read with section (8)(aa) of. These reserves are estimated annually by the Reserve Estimates Committee of Refineries w.e.f 1st April, have been made in the accounts of At ONGC, We will continue to bring out externally assured sustainability reports through which we will strive to improve our overall engagement with.

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In case of abandonment, such costs are expensed. Deferred Government Grant Note 2.

LD amounting to Transferred from Surplus Account 4, Transfer to Producing Properties 3, Share of Profit – Minority Interest 2, All other borrowing costs are charged to statement of profit and loss. Short lifted quantity of gas b.

ONGC – Annual Reports

The company declares and pays dividends in Indian rupees. Repayment of the loan will start in 28 equal instalments starting from Foreign Exchange Translation Reserve Note 5. Provision made till 31st March, is Rs 3, Building includes cost of undivided interest in land.

In the event of liquidation of the company, the holders of equity shares will be entitled to receive remaining assets of the company, after distribution of all preferential amounts. Production includes internal consumption and intermediary losses. The difference between the actual results and estimates are recognized in the period in which the results are known or materialized.

Loan to OVL is repayable within a notice period of minimum one year and carries no interest during the year and The total investment commitment is estimated at USD 1, million Rs 68, 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.

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Notes to Financial Statements for the year ended 31st March 1.

Generally the details are provided by the operators on monthly basis except in respect of Sakhalin-1, Russia Project, where the details are provided by the Operator on quarterly basis. Notes to Financial Statements for the year ended 31st March, Its Shares are listed and traded annuall Stock exchanges in India. Short Term Loans And Advances.

Employees are gifted a silver plaque also, depending upon their level.

Annual Reports

Pending final arbitral award, the same has been included in Receivable from GoI under ‘Advances Recoverable in cash or kind’. Production, Transportation, Selling and Distribution Expenditure. In assessing value in use, the estimated future cash flows from the use of assets and from its disposal at the end of its useful life are 2101-12 to their present value at appropriate rate. Hence, no adjustment for this sum is made in the accounts towards the lump sum amount due as above.

Sustainability Reports

Both finacial leases commenced on 31st December As a result, an income of 31, Bonus Share issued — Investments Long-term investments are valued at cost. Provisions are made for obsolete and pf moving inventories. Tax deducted at source 2, Disclosure on Foreign currency exposures at year end that have not been hedged by derivative instrument or otherwise are given below: As 2011-122 March, As at31st March, I.

Cash Balance includes 3, During the year Rs The Company had made a provision towards the claim made by the GoI in earlier years and the amount of provision outstanding as on 31st March, is Rs 8, Royalties on production represent the entitlement of the government of Sudan to a portion of ONGBV’s share of crude oil and liquid production and are recorded using the rates in effect under the terms of the contract at the time of production.

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In view of the perceived uncertainties in obtaining the refund at this stage, the provision made in the books as above has been retained and netted off against the amount recoverable as above in the financial statements for the year ended 31st March, Other goodwill on consolidation is not amortized. Unsecured a Non Convertible Redeemable Bonds 23, In assessing value in use, the estimated future cash flows from the use of assets and from its disposal at the end of its useful life are discounted to their present value at appropriate rate.

Transferred from Surplus AccountsEach holder of equity shares is entitled to one vote per share. The 12th Installment due on 30th June and 13th installment due on 30th December have not yet been received. Sulphur is valued at net realisable value.

BGEPIL in the following blocks, effective from the following dates as approved by the board of directors. Syria Shell Petroleum Development B. Foreign Exchange Transactions q. The dividend proposed by the Board of Directors is subject to the approval of the shareholders in the ensuing Annual General Meeting. 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.