[ad_1]
NEW DELHI: Reversing the declining pattern of the previous few years, ONGC stated its crude oil manufacturing will rise 11 per cent and pure fuel output will bounce 25 per cent after newer discoveries within the western and japanese offshore begin producing.
In an investor presentation publish FY22 earnings, Oil and Pure Fuel Company (ONGC) stated crude oil manufacturing will rise from 19.545 million tonnes within the monetary yr ended March 31 (2021-22) to 19.88 million tonnes this yr and 21.588 million tonnes within the subsequent yr.
The output will climb to 21.701 million tonnes in 2024-25 (FY25).
Equally, fuel manufacturing will rise from 20.907 billion cubic meters in 2021-22 to 21.097 bcm in present fiscal and 24.387 bcm within the subsequent. In FY26, the output will attain 26.124 bcm.
The output improve might be aided by initiatives to convey fuel, discovered on each the east and the west coast.
ONGC is betting on discoveries in KG-DWN-98/2 within the Bay of Bengal to do a lot of the heavy lifting, whereas the Cluster-8 marginal fields within the western offshore will complement the manufacturing.
ONGC stated it is usually implementing the fourth section of the redevelopment of the Mumbai Excessive oil and fuel fields, which is able to improve the restoration issue from the five-decade-old mature fields.
India’s dependence on imports to satisfy its crude oil wants has, in recent times, risen to 85 per cent as output from home fields continued to say no.
ONGC, the largest crude oil and pure fuel producer within the nation, has through the years seen a gentle decline in manufacturing from its mature and growing older fields.
However the agency is now stepping up on exploration marketing campaign to search out extra reserves.
ONGC stated it’ll spend Rs 31,000 crore from 2022 to 2025 on the exploration campaigns all through the nation.
It’s in a view to “add round 1,00,000 sq. kilometers of recent exploration space yearly as much as 2024-25,” the agency stated, including, “improve of acreage holding prone to additional set up the useful resource potential of undiscovered performs and realisation of YTF (but to search out) reserves.”
This is part of the corporate’s Imaginative and prescient 2040 that requires elevating capacities and manufacturing throughout its portfolio of oil and fuel exploration and manufacturing, downstream oil refining and petrochemicals and new vitality companies.
The corporate, which began with an fairness infusion of Rs 343 crore by the federal government greater than six a long time again, has generated a wealth of over Rs 9 lakh crore since then, and is now venturing on a brand new highway to additional improve worth.
The brand new Power Technique 2040 goals to lift home manufacturing from 50 million tonnes of crude oil and oil equal fuel to 70 MMtoe (Million Metric tonne of oil equal) by 2040, the presentation stated.
Abroad output is seen rising from 15 MMtoe to 40 MMtoe.
With 35 million tonnes each year of oil refining capability vested in its two subsidiaries — HPCL and MRPL, ONGC is concentrating on to lift this capability to round 100 million tonnes by 2040. Additionally, enlargement in petrochemicals might be prioritised.
ONGC can be trying to scale up its renewable vitality portfolio to 10 Gigawatts from lower than 200 MW at present.
Additionally, the agency has arrange a USD 1 billion enterprise fund corpus for the incubation of recent applied sciences that can help in elevating the output and discovering newer sources, the presentation stated.
In an investor presentation publish FY22 earnings, Oil and Pure Fuel Company (ONGC) stated crude oil manufacturing will rise from 19.545 million tonnes within the monetary yr ended March 31 (2021-22) to 19.88 million tonnes this yr and 21.588 million tonnes within the subsequent yr.
The output will climb to 21.701 million tonnes in 2024-25 (FY25).
Equally, fuel manufacturing will rise from 20.907 billion cubic meters in 2021-22 to 21.097 bcm in present fiscal and 24.387 bcm within the subsequent. In FY26, the output will attain 26.124 bcm.
The output improve might be aided by initiatives to convey fuel, discovered on each the east and the west coast.
ONGC is betting on discoveries in KG-DWN-98/2 within the Bay of Bengal to do a lot of the heavy lifting, whereas the Cluster-8 marginal fields within the western offshore will complement the manufacturing.
ONGC stated it is usually implementing the fourth section of the redevelopment of the Mumbai Excessive oil and fuel fields, which is able to improve the restoration issue from the five-decade-old mature fields.
India’s dependence on imports to satisfy its crude oil wants has, in recent times, risen to 85 per cent as output from home fields continued to say no.
ONGC, the largest crude oil and pure fuel producer within the nation, has through the years seen a gentle decline in manufacturing from its mature and growing older fields.
However the agency is now stepping up on exploration marketing campaign to search out extra reserves.
ONGC stated it’ll spend Rs 31,000 crore from 2022 to 2025 on the exploration campaigns all through the nation.
It’s in a view to “add round 1,00,000 sq. kilometers of recent exploration space yearly as much as 2024-25,” the agency stated, including, “improve of acreage holding prone to additional set up the useful resource potential of undiscovered performs and realisation of YTF (but to search out) reserves.”
This is part of the corporate’s Imaginative and prescient 2040 that requires elevating capacities and manufacturing throughout its portfolio of oil and fuel exploration and manufacturing, downstream oil refining and petrochemicals and new vitality companies.
The corporate, which began with an fairness infusion of Rs 343 crore by the federal government greater than six a long time again, has generated a wealth of over Rs 9 lakh crore since then, and is now venturing on a brand new highway to additional improve worth.
The brand new Power Technique 2040 goals to lift home manufacturing from 50 million tonnes of crude oil and oil equal fuel to 70 MMtoe (Million Metric tonne of oil equal) by 2040, the presentation stated.
Abroad output is seen rising from 15 MMtoe to 40 MMtoe.
With 35 million tonnes each year of oil refining capability vested in its two subsidiaries — HPCL and MRPL, ONGC is concentrating on to lift this capability to round 100 million tonnes by 2040. Additionally, enlargement in petrochemicals might be prioritised.
ONGC can be trying to scale up its renewable vitality portfolio to 10 Gigawatts from lower than 200 MW at present.
Additionally, the agency has arrange a USD 1 billion enterprise fund corpus for the incubation of recent applied sciences that can help in elevating the output and discovering newer sources, the presentation stated.
[ad_2]