Home / Oil & Energy / Oil & Companies News / ONGC declares results for Q1 FY’20: Posts Net Profit of INR 5,904 crore; records 3.7% increase in Gas Production Q-o-Q

ONGC declares results for Q1 FY’20: Posts Net Profit of INR 5,904 crore; records 3.7% increase in Gas Production Q-o-Q

Highlights:

-Gross Revenue INR 26,555 Crore
-Records 3.7 % increase in Natural Gas production
-Records 5.8 % increase in Value Added Products (VAP)
-4 discoveries made in Q1 FY’20

In its 321st Meeting held on 13th August, 2019, ONGC Board approved the results for First Quarter (Q1) of FY 2019-20 (FY’20) as detailed below:
1. Financial Performance (Standalone)

2. Financial Performance (Consolidated)

3. Production Performance

4. Exploratory Performance

ONGC has made 4 discoveries (3 prospects and 1 pool) in Q1 FY’20. The details of latest discovery made subsequent to the last press release on 30.05.2019 is as under:

SD-12(SDAG) in Sundalbari-Agartala Dome PML,West Tripura

Exploratory well SD-12(SDAG) flowed gas @ 1,14,000 m3/day. This is the first Middle Bhuban sand that has been established in the Sundalbari field and opens up a new play for exploration which will give incentive for targeting deeper prospects in this area.
Source: ONGC

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