ONGC posts net profit of ₹15,206 crore, crude production up by 1.9% and gas production up by 1.4%
ONGC declares results for Q1 FY’23: posts net profit of ₹15,206 crore, crude production up by 1.9% and gas production up by 1.4%
New Delhi : In its 355th Meeting held on 12th August, 2022, ONGC Board approved the results for First Quarter (Q1) of FY 2022-23; highlights are as under:
- Financial Performance (Standalone)
|
Gross Revenue (₹ Crore) |
42,321 |
23,022 |
83.8 |
1,10,345 |
|
Net Profit (₹ Crore) |
15,206 |
4,335 |
250.8 |
40,306 |
|
Crude Oil Price-Nominated |
||||
|
Net Realization (US$/bbl) |
108.54 |
65.59 |
65.5 |
76.62 |
|
Net Realization (₹/bbl) |
8,384 |
4,836 |
73.4 |
5,709 |
|
Crude Oil Price-JV |
||||
|
Realization (US$/bbl) |
109.60 |
66.86 |
63.9 |
77.15 |
|
Realization (₹/bbl) |
8,467 |
4,930 |
71.7 |
5,748 |
| Gas Price | ||||
|
Price on GCV basis($/mmbtu) |
6.10 |
1.79 |
240.8 |
2.35 |
Financial Performance (Consolidated)
|
Particulars |
Q1 |
Q1 |
% |
FY’22 |
|
Gross Revenue (₹ Crore) |
1,82,894 |
1,08,105 |
69.2 |
5,31,762 |
|
Net Profit (₹ Crore) |
8,581 |
6,847 |
25.3 |
49,294 |
| Net Profit (₹ Crore) – attributable to owners |
11,937 |
5,985 |
99.4 |
45,522 |
Production Performance:
| Particulars |
Q1 |
Q1 |
% |
FY’22 |
|
2022-23 |
2021-22 |
variation |
||
| Crude Oil–ONGC (MMT) |
4.742 |
4.596 |
3.2 |
18.604 |
| Crude Oil–JVs (MMT) |
0.502 |
0.558 |
(10.0) |
2.162 |
| Condensate (MMT) |
0.250 |
0.240 |
4.2 |
0.941 |
| Total Crude Oil (MMT) |
5.494 |
5.394 |
1.9 |
21.707 |
| Gas – ONGC (BCM) |
5.216 |
5.108 |
2.1 |
20.907 |
| Gas – JVs (BCM) |
0.167 |
0.201 |
(16.9) |
0.773 |
| Total Gas (BCM) |
5.383 |
5.309 |
1.4 |
21.680 |
| Value Added Products (KT) |
697 |
786 |
(11.3) |
3089Exploration Performance |
ONGC has declared 2 discoveries in onland during FY 2022-23 in its operated acreages. Out of these, one is a new prospect (Kankpul-1 in NELP-VII JV block WB-ONN-2005/4) in West Bengal and the other is new pool (Mandapetta-60 in KG Onland) in Andhra Pradesh.
The details of latest discovery notified since the last press release in this regard are as under:
(i) Kankpul-1 in NELP JV Block WB-ONN-2005/4 (PI-ONGC-75%, OIL-25%), West Bengal.
Exploratory well Kankpul-1 drilled in NELP Block WB-ONN-2005/4 (PI-ONGC-75%, OIL-25%) flowed gas @ 46,520 – 52,272 m3/day from Pandua Formation.
(ii) Mandapeta-60 in Mandapeta PML, KG-PG Basin, Andhra Pradesh
Well Mandapeta-60 in onland Mandapeta PML, KG-PG Basin encountered about 6.0 m sand within Kommgudem Formation flowed gas @ 62730 m3/day. This is the first commercial flow from Kommgudem formation which is monetized.
