New Delhi : In its 339th Board Meeting held on 24th June, 2021, ONGC presented the annual results for FY’21.ONGC declares results for FY’21; posts net profit of Rs 11,246 crore for FY’21. ONGC Board has recommended final dividend of 37% (Rs. 1.85 per share). The Company had earlier declared interim dividend of 35% (Rs. 1.75 per share) during the year; thus the total dividend for FY’21 has been 72% (Rs. 3.60 per share). The total dividend payout for FY’21 would be Rs. 4,529 crore.
Despite country wide lock-down due to COVID-19 pandemic, ONGC has almost reached last year’s production levels in case of Crude oil from its operated blocks. The shortfall in Natural Gas production is primarily due to less offtake by customers due to COVID-19 pandemic. This has resulted in production shortfall of Condensate and Value Added Products (VAP) as well.
Exploration Performance:
ONGC has declared total 10 discoveries (3 in onland, 7 in offshore) during FY 2020-21 in its operated acreages. Out of these, 6 are prospects (1 in onland, 5 in offshore) and 4 are pools (2 in onland, 2 in offshore).
With the monetization of Ashoknagar-1 discovery, the Bengal basin became the eighth sedimentary basin of India from which hydrocarbon has commercially been produced. This has resulted in up-gradation of Bengal basin to Category-I basin as per the new three tier category -classification of sedimentary basins of India.
