State-owned Oil and Natural Gas Corp (ONGC) has registered a fall of about 5.8% in its crude oil production for the year ended March 31 at 20.485 million tonne as compared to 21.76 million tonne achieved in the previous year on account of lower output from its crown-jewel Mumbai High fields. It also fell short of the company’s target of 21.64 million tonne.
Mumbai High fields registered a fall of 4.27% in its oil production at 9.55 million tonne as compared to 9.976 million tonne in 2011-12. Output from Neelam-Heera fields in the Mumbai offshore at 2.92 million tonne as well as 2.28 million tonne of production at Mehsana oilfields in Gujarat were lower than the previous year's output.
However, the Natural gas production has increased marginally by 0.99% at 23.54 billion cubic meters as compared to 23.31 bcm in 2011-12. Its biggest field Bassein in western offshore produced 12.43 bcm of gas as opposed to 12.372 bcm in the previous fiscal.
In 2012-13, ONGC made 22 oil and gas discoveries - 12 new prospects and the remaining new pool discoveries. Of these 22, nine discoveries were made in New Exploration Licensing Policy (NELP) blocks and 13 in areas the company had got on nomination basis.
| Company Name | CMP |
|---|---|
| ONGC | 283.95 |
| Oil India | 470.10 |
| Jindal Drilling&Inds | 540.15 |
| Deep Industries | 476.90 |
| Asian Energy Service | 306.05 |
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