INCOME OF ONGC FROM OVERSEAS OPERATIONS
Oil
and Natural Gas Corporation Limited (ONGC) has envisaged a revenue
of around US$ 1,250 million (Rs. 6,000 crore approx.) from its
overseas operations during the Tenth Five Year Plan period, i.e.
2002-2007. Arising out of the investment made by ONGC-Videsh Limited
(OVL), the fully owned subsidiary of ONGC, in the Vietnam Project,
revenue generation has started from the fiscal year 2002-03. The
total sales revenue booked from the Vietnam Project during the
above period, for OVL’s share is US$ 2.07 million (Rs. 99.36 crore
approx.).
In addition to the Vietnam
Project, during 2002-03, revenue realisation of OVL from the Greater
Nile Oil Project (GNOP), Sudan was US$ 18 million (Rs. 86.4 crore
approx.) through ONGC Nile-Ganga, its wholly owned subsidiary
registered in Amsterdam.
The above information was
given by the Minister of State for Petroleum & Natural Gas,
Shri Santosh Gangwar, today in the Lok Sabha in a written reply.
