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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 payment under the contract with Reort would be received over a period of 10 years including a moratorium of one year from the date of the contract 30th June, in 18 equal semi-annual installments along with the lease rental.

Details of these blocks and JVs as on Accordingly, the amount of net investment in the lease i. Contingent liabilities are disclosed by way of notes to rrport. Production includes internal consumption and intermediary losses. Pending final decision on the DOC by the MC, as a matter of abundant caution, the Company has made a provision of 9, Such expenses relating to Headquarter are charged to statement of profit and loss.


During the year Contingent liabilities are disclosed by way of notes to accounts. In view of the perceived uncertainties in obtaining the refund at this stage, the provision made in the books as above has been retained and netted off against the amount recoverable as above in the financial statements for the year ended 31st March, In case of abandonment, such costs are expensed.

Transfer to Producing Properties 42, Hazarika, holding additional charge of Chairman and Managing Director up to Republic of South Sudan is a landlocked country. The above includes Auditor’s Remuneration as under: Estimated amount of contracts remaining to be executed on capital account: The effective date of transfer of PI shall be the date of Government approval, which is pending. Company has taken a political risk insurance policy for 12th and 13th installments.

Reimbursable subsidies and grants d. Depreciation, Depletion, Amortization And Impairment.

ONGC – Annual Reports

Interest on delayed realization from annuwl f. The recovery is towards certain observations raised by auditors appointed by the Director General of Hydrocarbons DGH under Production Sharing Contract PSC for the period to in respect of cost and profit petroleum share payable to GoI. Gas pipeline transportation charges c. Surplus from Gas Pool Account e.


Bonus Share issued — All other borrowing costs are charged to statement of profit and loss. Further interest remaining due and payable even in the succeeding years, until such date when the interest.

Provisions and Write Offs. Details of Nature wise Expenditure.

Balance amount of Out of this, an amount of Depreciation and Amortization p. Foreign Exchange Transactions q. Unrealized gains are ignored. V Rao vi Shri K.

Annual Reports

In view of the above, currently petroleum operations in the Block have been limited to the maintenance of the facilities to ensure integrity for timely resumption of production operation.

Production, Transportation, Selling and Distribution Expenditure.

An impairment loss is recognized, whenever the carrying amount of such assets exceeds the recoverable amount.

Insurance Policy deductibles are expensed in the year the corresponding expenditure is incurred. Other goodwill on consolidation is not amortized.