Bhagwan Mahavir Education Financial Management Project Oil and Natural Gas Corporation Ltd(Ongc) Gaurav Bajaj 8 Hiren

n Gajwani 38 CONTENTS FOUNDATION AND INTRODUCTION BALANCE SHEET ANALYSIS P&L ANALYSIS LONG TERM CAPITAL FUNDS INVENTORY LEVERAGE WORKING CAPITAL CAPITAL BUGEDTING FOUNDATION AND INTRODUCTION Oil and Natural Gas Corporation Limited (ONGC),is a state-owned oil and gascompan y in India. It is a Fortune Global 500 company ranked 413,[1] and contributes 77 % of India's crude oil production and 81% of India's natural gas production. It is the highest profit making corporation in India, according to filings with the BSE of latest quarter results. It was set up as a commission on 14 August 1956. Indian government holds 74.14% equity stake in this company. ONGC is Asia's largest and most active company involved in exploration and produ ction of oil. It is involved in exploring for and exploiting hydrocarbons in 26 sedimentary basins of India. It produces about 30% of India's crude oil requirem ent. It owns and operates more than 11,000 kilometres of pipelines in India. In 2010, it stood at 18th position in the Platts Top 250 Global Energy Company Rank ing Represents Indias Energy Security ONGC has single-handedly scripted Indias hydrocarbon saga by: Establishing 6.89 billion tonnes of In-place hydrocarbon reserves with more than

300 discoveries of oil and gas; in fact, 6 out of the 7 producing basins have b een discovered by ONGC: out of these In-place hydrocarbons in domestic acreages, Ultimate Reserves are 2.42 Billion Metric tonnes (BMT) of Oil Plus Oil Equivale nt Gas (O+OEG). Cumulatively produced 803 Million Metric Tonnes (MMT) of crude and 485 Billion Cu bic Meters (BCM) of Natural Gas, from 111 fields. ONGC has bagged 120 of the 238 Blocks (more than 50%) awarded in the 8 rounds of bidding, under the New Exploration Licensing Policy (NELP) of the Indian Government. ONGC has bagged 17 out of 31 blocks awarded in NELP round VIII (14 as operator). ONGCs ational, Vietnam, eria Sao s 50,000 wholly-owned subsidiary ONGC Videsh Ltd. (OVL) is the biggest Indian multin with 40 Oil & Gas projects (9 of them producing) in 15 countries, i.e. Sudan, Russia, Iraq, Iran, Myanmar, Libya, Cuba, Colombia, Nigeria, Nig Tome JDZ, Egypt, Brazil, Syria and Venezuela. OVL had invested around R Crores (Approx 10 billion US dollars

Exploration Licensing Policy (NELP) of the Indian Government. ONGC has bagged 17 out of 31 blocks awarded in NELP round VIII (14 as operator). ONGCs wholly-owned subsidiary ONGC Videsh Ltd. (OVL) is the biggest Indian multin ational, with 40 Oil & Gas projects (9 of them producing) in 15 countries, i.e. Vietnam, Sudan, Russia, Iraq, Iran, Myanmar, Libya, Cuba, Colombia, Nigeria, Nig eria Sao Tome JDZ, Egypt, Brazil, Syria and Venezuela. OVL had invested around R s 50,000 Crores (Approx 10 billion US dollars)