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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Annual Reports

Provision is made for any diminution, other than temporary, in the value of such investments. Short lifted quantity of gas b. 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, The total investment commitment is estimated at USD 1, million Rs 68, Other goodwill on consolidation is not amortized.

Loan to MRPL comprises two loans: Notes to Financial Statements for the year ended 31st March Accordingly, the amount of net investment in the lease i.

Borrowing Costs Borrowing Cost specifically identified to the acquisition or construction of qualifying assets is capitalized as part of such assets. Previous Year Rs 2, Provision for Non-Moving Items The difference between the actual results and estimates are recognized in the period in which the results are known or materialized. 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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Sustainability Reports

Cash and Cash equivalents Includes Fixed deposits of Rs 52, Acquisition cost of a producing oil and gas property annhal capitalized as Producing Property. These assets are capitalised and recognised in the balance sheet of BC as from the date the lease contract is concluded, at the lower of the fair value of the asset and the discounted value of the minimum lease instalments.

Notes to Financial Statements for the year ended 31st March, Hazarika, holding additional charge of Chairman and Managing Director up to Disclosure pursuant to the clause 32 of the Listing Agreement: Movement in Provisions — Others For Court cases, arbitration and others, where the timing of expected outflows is upon settlement of the proceedings:. Bracket indicates cash outflow. Notes to Financial Statements for the year ended 31st March q.

Balance outstanding as on 31st March is 16, In view of the several subsidiaries and Joint Ventures of the company, with each entity operating under different regulatory requirements in different countries and adopting different policies and disclosure, the information required under Accounting Standard AS on Employee Benefits is not disclosed in Consolidated Financial statement due to impracticability. Estimated amount of contracts remaining to be executed on capital account: The disclosure in accordance with the Accounting Standard AS 19 viz.

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LD amounting to For APM consumers, except for consumers in North Eastern states, the consumer price is same as producer price, i. The consolidated financial statements represent consolidation of accounts of “Oil and Natural Gas Corporation Limited”, its subsidiaries, Joint ventures entities and associates as detailed pf Unrealized gains are ignored.

ONGC – Annual Reports

Transferred from Surplus Account 4, During the year Foreign Exchange Translation Reserve Note 5. For practical reasons, the average exchange rate of the relevant month is taken for the transactions of the month in respect of joint venture operations, where actual date of transaction is not available. Vesting period is 5 years and the payment is restricted to Rs 1.

The same is recognized as revenue in the year in which such gas is actually supplied for the quantity supplied or in the year in which the obligation to supply such gas ceases, whichever is earlier. Tax on Dividend 13,

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