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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The effective date of transfer of PI shall be the date of Government approval, which is pending. Out of this Further, in case the Company does not complete MWP or surrender the block without completing the MWP, the estimated cost of znnual balance work programme is required to be paid to the GoI.
These reserves are estimated annually by the Reserve Estimates Committee of the Company, which follows the International Reservoir Engineering Procedures. Interest lf delayed realization from customers f. Such different accounting policies have been adopted and impact thereof is disclosed in Note no.
LD amounting to Proportion of Ownership Interest as on. Deferred Tax Asset is recognized and carried forward only to the extent that there is reasonable certainty that the asset will be realized in future.
These reserves are estimated annually by the Reserve Estimates Committee of the Company, which follows the International Reservoir Engineering Procedures. Transferred from Surplus AccountsFurther, subject to oc payments on due dates by GOS to the Company, GOS shall 20011-12 the exclusive right to use and operate the pipeline system and the Company shall not assign, transfer, sub-let, sub-contract, mortgage or create any rights to any third party or encumbrances or make any disposition to any third party.
ONGC – Annual Reports
Profit after Tax annnual the yearEarnings per Equity Share. Production includes internal consumption and intermediary losses. The first 11 installments under the contract due till 30th December have been received. In case of acquisition, cost of Producing Properties is depleted by considering the proved reserves. Expected Contribution in respect of Gratuity for next year will be Rs For APM consumers, except for consumers in North Eastern states, the consumer price is same as producer price, i.
ONGC- Sustainability Reports
Actuarial gains and losses in respect of post employment and other long-term benefits are recognized during the year. Previous Year Cash and cash equivalent as on Contingent liabilities are disclosed by way of notes to accounts. Borrowing Costs Borrowing Cost specifically identified to the acquisition or construction of qualifying assets is capitalized as part of such assets.
Transferred from SurplusBoth finacial leases commenced on 31st December For the period, April 1, to March 31,the financial statements were reviewed by the auditors of Tamba B. The amount involved is 38, ONGC can call these loans on notice of 90 days. All other borrowing costs are charged to statement of profit and loss.
Tax deducted at source 2, The Company is not a party to the if but has agreed to abide by the decision applicable to the operator.
Fixed deposits of 52, Deferred Tax Asset is recognized and carried forward only to the extent that there is reasonable certainty that the asset will be realized in future. No borrowing cost is capitalized during the year previous year Nil.
Initial-in-Place-Reserves have been established in this block and a conceptual development plan as part of the proposal for Declaration of Commerciality had been submitted on The financial statements are presented in Indian Rupees and all values are rounded to the kf million except when otherwise indicated. Deduction during the year 3. Syria Shell Petroleum Development B.
Previous Year – 1, For the purposes of consolidation of PHHL, the audited Annual Accounts for the year and unaudited accounts for the year have been considered. Estimated amount of contracts remaining to be executed on capital account: The share of loss for the year amounting to Such costs are onggc by transferring to Producing Property when it is ready to commence commercial production.
The Company can exercise a priced purchase option during the term of the lease.