ONGC adds 83 mn tonne reserves in FY'10

Oil and Natural Gas Corp (ONGC) has added 83 million tonne of oil and gas reserves in the 2009-10 fiscal. The volume is the highest in the last two decades, even as production was lower than the target.
The reserve addition of ONGC along with its joint ventures (with firms like Cairn India) in domestic fields in 2009-10 has been 87.37 million tonne of oil and oil equivalent gas against the target of 76.28 million tonne.
On a standalone basis, the company added 82.98 million tonne of oil and oil equivalent gas reserves which has been the highest ultimate reserve accretion in the last 20 years. The reserves went up with the Kasomarigaon discovery in Assam, South Mahadevpatnam and Pennugonda in KG onland, GK-28-1 in Kutch offshore and PER-1 in Mumbai offshore.

Source : ONGC adds 83 mn tonne reserves in FY'10