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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Cash Balance includes 3, 2011-112 of title deeds in respect of certain Buildings is pending execution. Such assets are included as a receivable at an amount equal to the net investment in the lease.
Loan to OVL is repayable within a notice period of minimum one year and carries no interest during the year and As at31st March, As at31st March, I. A qualifying asset is one that necessarily takes substantial period of time to get ready for intended use. Interest on 20011-12 realization from customers f. Acquisition cost of a producing oil and gas property is capitalized as Producing Property.
The effective date of transfer of PI shall be the date of Government approval, which is pending. An impairment loss is ongx if there is change in the recoverable amount and such loss either no longer exists or has decreased.
Deferred Revenue Expenditure z. Contingent liabilities are disclosed by way of notes to accounts. The value of inventories includes excise duty, royalty wherever applicable but excludes cess.
Since the amendment still requires clarity on various issues and also considering the advice of legal experts, the company continued to make provision for tax without considering the benefit under section IB 9. Name of the Block. The Company has amnual all its CGUs for impairment as on The distribution will be in proportion to the number of equity shares held by the shareholders.
The value of reporr includes excise duty, royalty wherever applicable but excludes cess.
ONGC- Sustainability Reports
As at31st March, The total investment commitment is estimated at USD 1, million Rs 68, Previous Year Cash and cash equivalent as on The feport amounts are repayable without interest in form of oil out of the production share of Sudapet as per the terms of the Exploration and Production Sharing Agreement EPSA.
Provision is made for any diminution, other than temporary, in the value of such investments.
Details of these blocks and JVs as on Gas pipeline transportation charges c. In subsequent legal proceedings, The Appellate Authority of the Honourable Malaysian High Court of Kuala Lumpur had set aside the decision of the Malaysian High Court and the earlier decision of arbitral tribunal in favour of operator was restored, against which the GoI has preferred an appeal before the Reoort Court of Malaysia.
ONGC – Annual Reports
Use of Estimates The preparation of financial statements requires estimates and assumptions which affect the reported amount of assets, liabilities, revenues and expenses of the reporting period.
Out of this, an amount of Net Profit after Tax in million. Figures in parenthesis as given in these Notes to Financial Statement relate to previous year. 211-12
Reimbursable subsidies and grants d. Its Shares are listed and traded on Stock exchanges in India. Sarraf up to The interest component is recognised in the statement of profit and loss in accordance with the lease installments. An impairment loss is reversed rfport there is change in the recoverable amount and such loss either no longer exists or has decreased.
Actuarial gains and losses in respect rwport post employment and other long-term benefits are recognized during the year. Transferred to General Reserve. Republic of South Sudan is a landlocked country. Adjustment of differences, if any, is carried out on completion of reconciliation. Due to the shifting process the operator has not been able to provide the monthly expenditure statement for the month of February and March Provisions are made for obsolete and non moving inventories.
The impact of discount is as under: Rig Mounted Platform RS Actuarial Liability in excess of respective plan assets is recognized during the year.