|
India's Petro
Jewel, Oil and Natural Gas Corporation Ltd, earned a net profit
of Rs 14,431 crore in the last fiscal when it managed to
increase 8% in the crude oil productions this year, says
company's Chairman cum Managing Director, R S Sharma.
The Exploration and Production Company which completed fifty
years, its net worth stands at
Rs 53,593 crore
and it declared as the largest ever dividend of 450% in the
country.
The 750 mg watt gas based thermal power generation project in
South Tripura, the foundation stone for which was laid by the
Prime Minister Manmohan Singh last year would be launched by
ONGC by 2011.
"We have decided to invest Rs 5000 crore in the project which
would be operational by 2011. We need 4.5 MCM gas / day to run
the project, but now we extract only 3MCM/perday, so we have
fixed a target to extract 4.75 MCU/per day by the end of 2010",
Chairman of the best oil and Gas Company in Asia announces at a
crowded press conference in Agartala.
Sharma was
flanked by ONGC Board Directors – D.K. Pande (Exploration), Dr.
A.K. Balyan (HR), N.K. Mitra (Offshore), U.N. Bose (T & FS) and
Tripura Asset Manager R.K. Marya.
The Chief
Executive of the Oil and Gas company opines that besides
explorations in Assam and Tripura in India's North-East,
exploration would also start in Mizoram next year.
He says that ONGC's investment in this backward region is not
solely for profit because his company also wants peace and
economic development of the region. The biggest Indian
Transitional Company is not just a domestic major, it also
produce more than 6 Mt in 16 other countries including Iran,
Iraq, Russia, Qatar and Brazil.
May
14 2007
|
