ANNUAL REPORT OF ONGC 2011-12 PDF

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A N N U A L R E P O R T 2 0 1 0 – 2 0 1 1 .. Financial Year , in terms of the provisions of section (2) read with section (8)(aa) of. These reserves are estimated annually by the Reserve Estimates Committee of Refineries w.e.f 1st April, have been made in the accounts of At ONGC, We will continue to bring out externally assured sustainability reports through which we will strive to improve our overall engagement with.

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Gas pipeline transportation charges c. Such costs are capitalized by transferring to Producing Property when it is ready to commence commercial production.

Sulphur is valued at net realisable value. In assessing value in use, the estimated future cash flows from the use of assets and from its disposal at the end of its useful life are discounted to their present value at appropriate rate.

Tax deducted at source Abnormal Rig days’ costs are considered as unallocable and charged to statement of profit and loss.

Annual Reports

Further, subject to regular payments on due dates by GOS to the Company, GOS shall have the exclusive right to use and operate the pipeline system and the Company shall not assign, transfer, sub-let, sub-contract, mortgage or create any rights to any third party or encumbrances or make any disposition to any third party.

Based on the information available, the required disclosure under the Micro, Small and Medium Enterprises Development Act, is given below:. Deposit under Site Restoration Fund Scheme: Profit after Tax for the yearProvision made till 31st March, is 3, The effective date of transfer of PI shall be the date of Government approval, which is pending.

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The recoverable amount is its ‘value in use’ or ‘net selling price’ if determinable whichever is higher. Out of this, an amount of Building includes cost of undivided interest in land.

Sustainability Reports

Sarraf up to Transferred from SurplusDepreciation for the year includes Rs6. The difference between the actual results and estimates are recognized in the period in which the results are known or materialized.

The same repott paid to a fund administered through a separate trust. During the year Rs Hence the expenditure for the month of February and March is booked based on the cash call request for those two months amounting to USD 4.

Capital Redemption Reserve Note 5.

These reserves are estimated annually by the Reserve Estimates Committee of the Company, which follows the International Reservoir Engineering Procedures. The same is treated as cost in the year in which the gas is actually transported for the quantity transported or in the year in which the right to transport such gas ceases, whichever is earlier.

Balance amount reversed is attributable to Jodhpur and Silchar onshore due to transfer of assets to another CGU and change in estimation of abandonment liability in respect of offshore.

This amount is considered as restricted cash and hence not considered as ‘cash and cash equivalents’. The Company had made a provision towards the claim made by the GoI in earlier years and the amount of provision outstanding as on 31st March, is Rs 8, In assessing value in use, the estimated future cash flows from the use of assets and from its disposal at the end of its useful life are discounted to their present value at appropriate rate. An impairment loss is recognized, whenever the carrying amount of such assets exceeds the recoverable amount.

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Depreciation, Depletion, Amortization And Impairment. All other borrowing costs are charged to statement of profit and loss. The Company has tested all its CGUs for impairment as on Such assets are included as a receivable at an amount equal to the net investment in the lease.

ONGC – Annual Reports

The amount involved is 38, Foreign Exchange Translation Reserve Note 5. Deferred Government Grant Note 2. The distribution will be in proportion to the number of equity shares held by the shareholders. Actuarial Liability in excess of respective plan assets is recognized during the year.

Details of Nature wise Expenditure. All government stakes other than income taxes 201112 considered to be royalty.

The loan is repayable in 8 equal quarterly instalments starting April Other Non Current Assets. Movement in Provisions Others For Court cases, arbitration and others, where the timing of expected outflows is upon settlement of the proceedings: Oongc liabilities are disclosed by way of notes to accounts.

Registration of title deeds in respect of certain Buildings is pending execution. Both finacial leases commenced on 31st December The finance income thereon has been recognized based upon the pattern reflecting the constant periodic rate of return on the outstanding net investment in the lease.

Previous Year Cash and cash equivalent as on Production, Transportation, Selling and Distribution Expenditure.