|
Sarkaritel.com News and
Features-Corporate News
ONGC signs MoU with Ministry for 2008-09
|
New Delhi, March 26, 2008
The Oil and Natural Gas Corporation Ltd signed a
Memorandum of Understanding with the Ministry of Petroleum
& Natural Gas today for its annual performance 2008-09.
The following are some of the targets set for 2008-09 (the
corresponding MoU figures of the previous year are in
paranthesis). |
R.S.Sharma,
CMD, ONGC signed the MoU with M.S.Srinivasan, Secretary,
Ministry of
Petroleum &
Natural Gas. |
Crude to be produced is targeted at 29.04 (29.04) MMT
Gas at 25.05 (25.05) BCM
Value added products at 3.320 (3.245) MMTOE.
Reserve accretion is 64.5(55) MMTOE
Crude oil, natural gas and reserve accretion targets include
share from domestic, Joint Venture fields / acreages. Reserve
accretion / production target exclude overseas acquisitions.
Gross revenue is expected at Rs. 54,601 (52,294) crore and
gross margins at Rs.31, 933 (31, 013) crore.
MoU target for Oil & Gas production has been kept higher at
the 2007-08 MOU target level, even though the approved BE
target is less for 2008-09. The target is thus challenging the
achievement of which will be an indicator of the Corporation's
business prowess.
The weightage for Subsidiary Management has been increased to
10% ( 4% MRPL & 6% OVL) from the level of 4% (2% each)in MOU
2007-08.
Consequent upon the recommendations of the Task Force certain
new indicators of performance have been included in this MoU
for the first time like:-
Under 'Project Management' activity schedule of Coal Bed
Methane (CBM) and Under Ground Coal Gasification (UCG) will be
given weightage.
A new 'Performance Indicator' under "Operational Parameters"
i.e., Hydrocarbon production from North East" finds place.
MMT - Million Tonnes
BCM- Billion Cubic Metres
MMTOE- Million Tonnes of Oil Equivalent
Value Added Products are LPG, C2-C3, SKO, Naptha, LSHS & HSD
(SKO is Kerosene and HSD is diesel)
E-Mail :
newseditor@sarkaritel.com
|
