ONGC Annual Report 2018-19
ONGC company share with you the highlights, developments and the progress that your Company has made during the financial year ended 31.03.2019 and to present the 26th Annual Report on the business and operations of the Company and its Audited Statements of Accounts together with the Auditors’ Report and Comments on the Accounts by the Comptroller and Auditor General (CAG) of India.
Major Highlights: FY’2018-19
The significant milestones achieved by your Company during FY’2018-19:
- ONGC’s standalone O+OEG production during 2018-19 was 45.86 MMtoe, an increase of 0.2%
w.r.t. 2017-18 (45.79 MMtoe). - Natural gas production during 2018-19 was 24.75 BCM which was 5.4% more than the production
during 2017-18. - ONGC’s gas production recorded an all-time high of 71 MMSCMD in November 2018 mainly due to ramping up of production from Daman in Western offshore, S1-Vashistha in Eastern offshore, and Tripura in Onshore.
- Production of Value Added Products (VAP) increased by 7.56% (3,641 KT 2018-19 against 3,385 KT in 2017-18).
- 516 wells drilled during 2018-19 as compared to 503 in the year 2017-18; an increase of ~ 3 % (y-o-y basis).Drilled more than 500 wells in the last three consecutive years.
- Drilled 411 development wells (including sidetracks); the highest in the history of the Company.
- Total 17 discoveries monetized during 2018-19 including 5 discoveries (3 pool and 2 Prospect) made during 2018-19 and remaining 12 from previous years.
- Two New Basins i.e. Vindhyan and Bengal Basins were upgraded to Category II from Category III.
- Hon’ble Prime Minister dedicated ONGC’s deepwater S1-Vasishta Development Project to the nation on 10th February 2019 at Guntur in Andhra Pradesh.
- C2-C3 Plant, Dahej processed 5.095 million tonnes of LNG in 2018-19 against plant capacity of 5 million and produced ~ 900 KT of total annual VAP.
- Revenue from operations was at `1,096,546 million against `850,041 million in FY’18.
- Net profit (PAT) was at `267,158 million against `199,453 million during FY’18.
Company has been ranked number one E&P Company in the world by Platts Top 250 Global Energy Company Rankings-2018 and 21st among global energy majors based on assets, revenues, profits, and return on invested capital. The leading international business journal Forbes in its 2019 list has ranked the Company 3rd largest in India and 220th worldwide based on sales, profit, assets and market value.
ONGC has been ranked 197 in the coveted Fortune Global 500 list 2018. The company has been awarded five Blocks including operatorship in two blocks, under Round-1 of Open Acreage License Policy (OALP).
For more details download the ONGC Annual Report 2018-19 in PDF format from the official link of the company website as link given below.