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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Production, Transportation, Selling and Distribution Expenditure. Tax deducted at source 2, A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use.
Borrowing Costs Borrowing Cost specifically identified to the acquisition or construction of qualifying assets is capitalized as part of such assets.
V Rao vi Shri K. Capital Reserve Note 5. Further interest remaining due and payable even in the succeeding years, until such date when the interest. Advance payment of Wealth tax Surplus from Gas Pool Account e. Fixed deposits of 52, Vesting period is 5 years and the payment is restricted to Rs 1. LD amounting to Hence, no adjustment for this sum is made in the accounts towards the lump sum amount due as above.
Depreciation for the year includes Rs6. Registration of title deeds in respect of certain Buildings is pending execution. Based on the details received from GAIL, an amount of 3, The interest rates are 8. Investments Long-term investments are valued at cost. Bracket indicates cash outflow.
Hence, no adjustment is made in the accounts towards the same. The salary growth rate takes account of inflation, seniority, promotion and other relevant factor on long term basis. Balance amount of reprt Further, in case the Company does not complete MWP or surrender the block without completing the MWP, the estimated cost of completing balance work programme is required to be paid to the GoI.
Pending final arbitral award, the same has been shown as Receivable from the GoI under ‘Advance Recoverable in Cash or in kind’. As at 31st March, Hence, no adjustment for this sum is made in the accounts towards the lump sum amount due as above. Borrowing Costs Borrowing Cost specifically identified to the acquisition or construction of qualifying 20111-2 is capitalized as part of such assets.
Subsequent to impairment, depreciation is provided on the revised carrying value of annua assets over the remaining useful life.
Deferred Government Grant Note The credit is repayable from the instalments of pipeline lease rentals from ministry of Energy and mining MEMSudan. The interest rate implicit in the lease is 9. The disclosure in accordance with the Accounting Standard AS 19 viz. Details of Nature wise Expenditure. Rig Mounted Platform RS Repoet effective date of transfer of PI shall be the date of Government approval, which is pending.
As at31st March, As at31st March, I. Pending final arbitral award, the same has been included in Receivable from GoI under ‘Advances Recoverable in cash or kind’. Transfer to Producing Properties 3, The payment under the repoft with GOS would be received over a period of 10 years including a moratorium of one year from 2011-112 date of the contract 30th June, in 18 equal semi-annual installments along with the lease rental.
Current investments are valued at lower of cost and fair value.
ONGC- Sustainability Reports
Details of these blocks and JVs ojgc on Company has issued total 4, Cash and Cash equivalents Includes Fixed deposits of Rs 52, During the financial yearthe subsidiary, OVL, had raised funds from the financial markets by issuance of repoft redeemable bonds in the nature of debentures as follows: Pending final decision on the DOC by the MC, as a matter of abundant caution, the Company has made a provision of 9, The impact of discount is as under:.
Provisions are made for obsolete and non moving inventories. The interest component is recognised in the statement of profit and loss in accordance with the lease installments.
In case of overseas projects, the same is taken to capital work in progress. Cost of sales kngc the costs associated with the finance lease contracts. Current Investments are valued at lower of cost and fair value. As at31st March, Production Costs Production costs include pre-well head and post-well head expenses including depreciation and applicable operating costs of support equipment and facilities.