ONGC Q2 FY’11 net up by 5.9% despite higher under-recovery discount II.ONGC notifies one more oil discovery in Cambay Basin, Western Onshore
I. ONGC in its 211th Board Meeting held on 28th October, 2010 approved the financial results for Q2 FY’11 and H1 FY’11 detailed as under:
|₹ in Crore|
|Details||Qtr end on||Half year ended on||For the FY|
|30.09.10||30.09.09||30.09.10||30.09.09||2009 - 10||2008- 09||2007 - 08|
|Impact on Statutory Levies||442||371||1,232||434||1,629||4,292||1,942|
|Impact on Profit Before Tax||2,577||2,259||7,302||2,625||9,925||23,933||20,059|
|Impact on Profit After Tax||1,721||1,491||4,876||1,733||6,551||15,798||13,241|
II. New oil discovery notified in Cambay Basin, Western Onshore
Well Mater -12. Dabka -Sarbhan PEL Block. Western Onshore Basin:
|Details||Q2 2010 - 11||Q2 2009 - 10||H1 2010 - 11||H1 2009 - 10||FY'10|
|(A) Crude 011 - (MMT)|
|Total Crude oil (A)||6.85||6.63||13.45||13.18||26.46|
|(B) Gas - (BCH)|
|Total Gas (B)||6.25||6.46||12.66||12.84||25.59|
|(C) Total Value Added Products (MMT)||0.75||0.86||1.52||1.68||1.523.40|
|Details||Q2 2010 - 11||Q2 2009 - 10||% variation||H1 2010 - 11||H1 2009 - 10||% variation||FY'2009 - 10|
|Sales Revenue ( ₹ in crore)||18,239||15,134||20.5||31,949||30,056||6.3||60.205|
|Net Profit (₹ in Crore)||5,389||5,090||5.9||9,050||9,938||(8.9)||16,768|
|Under recovery Discount (₹ in Crore)||3,019||2,630||14.8||8,534||3,059||179.0||11,554|
|Gross Realization (US$/bbl)||79.21||70.49||12.4||79.99||65.58||22.0||71.65|
|Net Realization (USS/bbl)||62.75||56.41||11.2||55.73||57.33||(2.8)||55.94|
|Gross Reahzalion (₹/bbl)||3,683||3,414||7.9||3,686||3,183||15.80||3,397|
|Net Realization (₹/bbl)||2,918||2,732||6.8||2,568||2,783||(7.7)||2,652|
The exploratory well Matar-12 in Dabka-Sarbhan PEL Block, Western Onshore Basin, drilled to a depth of 1901m, flowed oil from a new reservoir sand @ 355 bopd with gas @ 6,636 m3/d through 6 mm bean from the conventionally tested interval 1793.5-1795.5m in Ankleshwar Formation of middle to upper Eocene age.
The oil is of good quality with an API gravity of 40.9 degree. Three more objects have been identified in the well at shallower levels which are under testing.
This discovery assumes importance since it has established the presence of a new pool in Matar field thereby opening up an additional area of the order of 60 sq. km for further exploration and delineation of this reservoir sand.
Matar-12 is the 14th discovery made by ONGC during the current fiscal and 5th in Cambay Basin.
The block which was earlier held by a consortium of M/s NIKO Resources & GSPCL under marginal field policy of ONGC and was surrendered after drilling one well. Subsequently, on taking up this Block, ONGC made the Matar-11 discovery followed by the current one. The exploratory well Matar-12 was drilled to a depth of 1901m, to chase the extension of earlier proven oil bearing sands of Matar-11. The discovery has been notified to DGH on 28th October 2010.
Oil and Natural Gas Corporation Ltd.
Corporate Communications, New Delhi,