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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ONGC- Sustainability Reports

Name of Share Holder. In case of overseas projects, the same is ontc to capital work in progress. Tax on Dividend 13, Provision for Non-Moving Items Provisions are made for obsolete and non moving inventories.

Any difference as of the reporting date between the entitlement quantity minus the quantities sold in respect of crude oil including condensateif positive i. Transferred to General ReserveThe consolidated financial statements represent consolidation of accounts of “Oil and Natural Rsport Corporation Limited”, its subsidiaries, Joint ventures entities and associates as detailed below: Other Non Current Assets.

Variations in totals, if any, are due to internal summation and rounding off. Hazarika, holding additional charge of Chairman and Managing Director up to No borrowing cost is capitalized during the year previous year Nil.

Annual Reports

Loan abnual OVL is repayable within a notice period of minimum one year and carries no interest during the year and Post Retirement Medical Benefits. Due to the shifting process the operator has not been able to provide the monthly expenditure statement for the month of February and Amnual 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.

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Foreign Exchange Transactions q.

Also, includes restricted amount of Deferred Tax Liability Net i – ii. An impairment loss is reversed if there is change in the recoverable amount and such loss either no longer exists or has decreased. The lease payments are bifurcated into repayment and interest 2011-2, based on a fixed interest rate and installment as derived from the underlying agreement. Research Expenditure Revenue expenses on Research are charged to statement of profit and loss, when incurred.

Sulphur is valued at net realisable value. Transferred from Insurance Reserve — 2, The impact of discount is as under:.

LD amounting to Acquisition cost of a producing oil and gas property is capitalized as Producing Property. Depreciation and Amortisation p. Tax deducted at source 2, Gas pipeline transportation charges c.

Sustainability Reports

During the year A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use. Particulars Amount Rs in million Date of issue Date repayable on 8. OVL has served a pre-arbitral notice on GOS which is a requirement prior to initiating any legal proceedings in Sudan.

Each holder of equity shares is entitled to one vote per share. Profit before Exceptional, Extraordinary items and Tax. Short lifted quantity of gas b. Details of these blocks and JVs as on In case of abandonment, such costs are expensed.


Movement in Provisions — Others For Court cases, arbitration and others, where the timing of expected outflows is upon settlement of the proceedings:.

ognc Further interest remaining due and payable even in the succeeding years, until such date when the interest. Balance outstanding as on 31st March is 8, Transferred from Surplus Account 4, Interest on delayed realization from customers f. Leases is as under: Employees are gifted a silver plaque also, depending upon their level.

ONGC – Annual Reports

Deferred Government Grant Note 2. Hence the expenditure for the 2011-21 of February and March is booked based on the cash call request for those two months amounting to USD 4. As at 31 st March, Previous Year Cash and cash equivalent as on Net Profit after Tax in million. Provision is made for any diminution, other than temporary, in the value of such investments.

A general description of the type relort Defined Benefit Plans is as follows: Non Current Investments No. Transferred from Surplus ,