New Delhi, August 13 Oil India Limited income sharply risen to Rs 3517.23 crores in the first quarter of 2018-19 as against of rs 2485.70 and profits by 56 percent at Rs 703.22 crores. Crude oil Crude Oil price realisation increased by US$ 23.59/BBL to US$ 72.00 /BBL in Q1 FY 2018-19 as compared to US$ 48.41/BBL during Q1 FY2017-18. This results were approved at the board meetings today.
Natural gas price realisation during Q1 FY 2018-19 is higher US$ 3.06/MMBTU as compared to US$ 2.48/MMBTU in Q1 FY2017-18.
Crude Oil production for the Q1 FY 2018-19 is 0.844 MMT which is same to the crude oil production during Q1 FY 2017-18. Natural gas production during Q1 FY2018-19 is decreased by 3.87% to 696 MMSCM as compared to 724 MMSCM during Q1 FY2017-18 due to short upliftment by certain consumers.
The earning per share rose to Rs 6,20 as against 3.84 during the first quarter.
Company has received ‘NIL’ comment from Comptroller & Auditor General of India on FY 2017-18 accounts, for the 16th consecutive year.
Hydrocarbon discovery in NELP VI block, KG-ONN-2004/1 in May, 2018 at well Thanelanka-I, the first successful High Pressure High Temperature (HPHT) well drilled by the company.
Company, in consortium with Assam Gas Company & GAIL Gas Ltd., has been allotted two geographical areas, namely Cachar, Hailakandi & Karimganj Districts and Kamrup & Kamrup Metropolitan Districts in the state of Assam in the recently concluded 9th round of City Gas Distribution (CGD) bidding by PNGRB.
Company has partnered with ONGC, IOCL, GAIL & NRL to form a JV company named “Indradhanush Gas Grid Limited” with equal equity contribution to construct Gas Grid infra-structure covering 1450 km of pipeline to connect eight North-Eastern States from Guwahati.
