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DPE evaluates ONGC as
“Excellent” in MOU Score Card for FY'06
New Delhi December 05, 2006
Department of Public Enterprises, Ministry of Heavy
Industries & Public Enterprises, Govt. of India has rated Oil
and Natural Gas Corporation Limited (ONGC) as “Excellent” with
a Composite MOU score of 1.45, based on provisional results of
FY 2005-06. Final MOU score may improve to 1.375, as estimated
by the Company, on the basis of Audited results for the
FY2005-06. As per DPE guidelines for 2005-06 MOU, Corporate
Targets were placed under ‘Very Good’ Category. Out of 28
benchmarked parameters in MOU, ONGC scored ‘Excellent’ in 17
parameters and ‘Very Good’ in another 7 parameters. It scored
all ‘Excellent’ against 7 parameters listed under Static
Financial Parameters. The Company also scored ‘Excellent’
against parameters like, Reserve Accretion, Finding cost,
Project implementation, Capital Expenditure etc.
ONGC has consistently performed well in its MOU score card
and has been rated “Excellent” on three occasions during last
five years.
|
Year MOU |
Score MOU |
Rating |
|
2001-02 |
1.49 |
Excellent |
|
2002-03 |
1.29 |
Excellent |
|
2003-04 |
1.68 |
Very Good |
|
2004-05 |
1.77 |
Very Good |
|
2005-06 |
1.45 |
Excellent* |
* based on provisional results
ONGC is one among few organizations, which has signed MOU
with the Govt. of India since the introduction of MOU concept
in 1997-98. Over the years, the MOU Score Card has emerged as
efficient barometer to measure corporate performance.
Performance evaluation is now outcome oriented unlike in
earlier years, when it was more based more on physical inputs.
Besides physical and operational performance, the MOU also
evaluates performance in critical areas R&D, HRD, Corporate
Plans, Operational cost, HSE etc., through structurally
quantified parameters.
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