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Corporate Presentation

Disclaimer
This Presentation is for information purposes only and does not constitute an offer, solicitation or advertisement with respect to the purchase or sale of any security of Oil and Natural Gas Corporation Limited (the "Company") and no part of it shall form the basis of, or be relied upon in connection with, any contract or commitment whatsoever. This Presentation is being furnished to you solely for your information and may not be reproduced, redistributed or published, directly or indirectly, in whole or in part, to any other person. This document contains certain forward-looking statements relating to the business, financial performance, strategy and results of the Company and/or the industry in which it operates. Forward-looking statements are statements concerning future circumstances and results, and any other statements that are not historical facts, sometimes identified by the words "believes", "expects", "predicts", "intends", "projects", "plans", "estimates", "aims", "foresees", "anticipates", "targets", and similar expressions. The forward-looking statements, including those cited from third party sources, contained in this Presentation are based on numerous assumptions and are uncertain and subject to risks. A multitude of factors including, but not limited to, changes in demand, competition and technology, can cause actual events, performance or results to differ significantly from any anticipated development. Neither the Company nor its affiliates or advisors or representatives nor any of its or their parent or subsidiary undertakings or any such person's officers or employees guarantees that the assumptions underlying such forward-looking statements are free from errors nor does either accept any responsibility for the future accuracy of the forwardlooking statements contained in this Presentation or the actual occurrence of the forecasted developments. Forward-looking statements speak only as of the date of this presentation. As a result, the Company expressly disclaims any obligation or undertaking to release any update or revisions to any forward-looking statements in this presentation as a result of any change in expectations or any change in events, conditions, assumptions or circumstances on which these forward-looking statements are based. No representation or warranty (express or implied) is made as to, and no reliance should be placed on, the accuracy, completeness or correctness of any information, including any projections, estimates, targets and opinions, contained herein, and no liability whatsoever is accepted as to any errors, omissions or misstatements contained herein and, accordingly, none of the Company or its affiliates, its advisors or representatives or any of its or their parent or subsidiary undertakings or any such person's officers or employees accepts any liability (in negligence or otherwise) whatsoever arising directly or indirectly from the use of this Presentation. By attending this Presentation you acknowledge that will be solely responsible for your own assessment of the market and the market position of the Company and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of the Company's business. This Presentation speaks as of its date. Neither the delivery of this Presentation nor any further discussions of the Company with any of the recipients shall, under any circumstances, create any implication that there has been no change in the affairs of the Company since such date. This presentation may not be used, reproduced, copied, distributed, shared, or disseminated in any other manner. This presentation does not constitute an offer or invitation to purchase or subscribe for any shares in the Company and neither any part of it shall form the basis of or be relied upon in connection with any contract or commitment whatsoever.
2

ONGC Group: An Introduction


Indias Flag Bearer for Energy Security With Global Footprint
Significant role in defining Indias hydrocarbon landscape Largest domestic exploration acreage and mining lease owned (PEL:51%, ML: 67% and reserves 58%)(1) as on March 31, 2010 Significant overseas investments with 34 projects in 15 countries(2)

Global Size & Scale

One of Indias most profitable enterprise (3) Most valuable Indian public sector enterprise by Market Capitalisation (4) MCap of INR 2,517 bn(4), Revenues: INR 1,086 bn, EBITDA: INR 475 bn; Profit:INR 194 bn in FY10 Produced 60.9 mtoe of oil / oil equivalent gas, refining capacity of 12.5mtpa and extracted 3.4mtpa of LPG, Naptha etc from gas / condensate in fiscal year 2010

Integrated Oil & Gas Company

Presence across the hydrocarbon value chain and strength in Exploration & Production In-house capabilities in all facets of upstream oil and gas business Presence across E&P, Refining, Petrochemicals, Power, LNG, & diversification into new energy sources

Globally Acclaimed

Credit rating of A2 (Stable) from Moodys and LAAA from ICRA # 1 E&P company in the world(5) ; # 18 energy company in the world(5) # 155 in the Forbes Global 2000 list and a Fortune 500 Company
1. 2. 3. 4. 5. Source: MoPNG; PEL Petroleum Exploration License, ML Mining Lease; Reserves only for ONGC operated fields Other than the 34 projects mentioned above there are 6 projects/blocks which are currently being relinquished by the ONGC Group Based on Net Profit For Financial Year Ending March 31, 2010. As on Feb 1, 2011, Bloomberg Platts

ONGC Group: Presence Across The Energy Spectrum


E&P, the core business Indian E&P
Indian E&P

Overseas E&P Overseas E&P


(100%)

Refinery Refinery
(71.6%)

SEZ SEZ
(26%)

Value-chain Value-chain
(26%)

Power Power
(50%)

(23%)
Joint Ventures Joint Ventures Primary Subsidiaries Primary Subsidiaries

(49*%)

Services Services

(49%) (100%) (12.5%) (21.5%)

(23%)

(100%)

(100%)
ONGC Amazon Alaknanda Ltd

(50%)

(100%)
Jarpeno Ltd

(100%)

Carabobo One AB
* OMPL: 46% ONGC & 3% MRPL

ONGC Group: A Rich Heritage


1999: Stake sale by GOI to IOC (10%), GAIL (2.5%) 1997: Navratna Status 1993/94: Divestment of 2% equity by GoI; 2% offered to employees 1974: 1st offshore discovery Bombay High 1965: Established OVL 2003: Acquired MRPL 1956: Inception of Oil & Natural Gas Commission Group CAGR (FY02FY10) (1) 2000 1950 Turnover: 20.8% Net Profit: 15.3% 2011: Shale Gas 2010: Maharatna Status 2010: CBM, Carabobo (Venezuela) 2008: Acquired Imperial Energy 2006: OPAL, OMPL, MSEZ & OTPC 2004: FPO (10% GOI Divestment) 2003: Production in Sudan & Vietnam begins 2010

ONGC Group is evolving into an integrated Oil & Gas Company with a Global Footprint
5
(1) CAGR figures for ONGC Group

Key Highlights
1 Industry Fundamentals Remain Intact

6 Experienced Management Team; With Successful Track Record & Robust Financials

2 Indias National Oil Champion

Integrating Across E&P and Energy Value Chain coupled with New Growth Diversification

Poised for the Future

3 Significant International Footprint with Demonstrated Track Record

4 World Class Operations and Large Reserve Base

ONGC is Well Positioned to Deliver Long Term Growth


6

Macroeconomic Environment Overview


World Economy is on the Path to Recovery
10 8 6
%

.. Supported Primarily by Emerging Growth Engines


10.3%

Emerging 6.5% World 4.5% 2.5%


9.7%

9.6%

9.5%

4 2 0 (2) (4) (6) 2001


8.4% 8.4%

Developed

2003

2005

2007

2009

2011

2012
CY2010E CY2011E CY2012E
Source: IMF- Overview of the World Economic Outlook Projections, Jan 25, 2011

Source: IMF- Overview of the World Economic Outlook Projections, Jan 25, 2011

... Resulting in Global Energy Consumption Growth


(btoe)

Crude Price Trends


140 120
Brent (US$/bbl)

IPE Brent Close (US$)

100 80 60 40 20 2006
5yr avg 76.2/bbl

Current: $99/bbl

2007

2008

2009

2010

2011

IPE Brent Close (US$)


Source: BP Statistical Review of World Energy June 2010 Source: Current price as on Jan 31, 2011 as per Bloomberg

Robust Domestic Fundamentals


Indias Oil and Gas Consumption is Amongst the Highest in the World India is the 4th largest Oil consumer in the World
Oil Consumption in 2009 (mmt)
843
647

Gas Consumption in 2009 (bcm)

405 198 149


India

390

125
Russia

122
Saudi Arabia

114
Germany

104
South Korea

104
Brazil

97
Canada
Russia US

132

89
Canada

87
Japan

87
UK

78
Germany

77
Saudi Arabia

72
Italy

70
Mexico

59
UAE

52
India

Japan

China

US

Sources : BP Statistical Review of World Energy June 2010

Sources : BP Statistical Review of World Energy June 2010

Comparatively Low Per Capital Consumption

Implying Significant Long Term Consumption Growth


(mtoe)

Sources : World Energy Outlook 2009

Consumption (MTOE)

Sources : World Energy Outlook 2009

Iran

Untapped Opportunities in India


Despite Increasing Production, India Remains a Net Importer of Crude (1) Significant increase in Net Crude Imports over the last 10 years (153 mmt in FY10) Import value currently stands at INR 3.7 tr (FY10) One of the largest net importers of oil globally, imports ~77% of its oil needs based on consumption Indias Hydrocarbon Reserves are a Small Fraction of Global Reserves (2) Oil 0.44% of Worlds Oil reserves 0.60% of Worlds gas reserves
OPEC, 77% ROW, 22% India, 0.4%

(1)

Gas

ROW, 15%

India, 0.6%

Iran, 16% Qatar, 14% FSU, 31%

Russia, 24%

Domestic Resources Remain Significantly Under-explored (3) ~1.79 mn sq. km. of sedimentary basins in India Only 22% of basins well explored ~1.35 mn sq. km. of deep waters sedimentary area
Exploration Initiated, 44%
1) 2) 3) Source: MoPNG Sources : BP Statistical Review of World Energy June 2010 Source: DGH report 2010

Poorly Explored, 22%

Explored, 22%

Unexplored, 12%

Indian National Oil Champion : ONGC Domestic Operations


India Footprint

Highest share of hydrocarbon acreage in India


1 Western Onshore 7 3

Discoveries Since FY09

Prospects Pools

Assam Shelf 2 1

Discovered

6 of 7 Domestic Producing Basins (1)


3

2 6 Tripura 7 8 Western Offshore 2 6 4 9 KG Onshore 10 11 Cauvery Onshore 1 3 6 2 Mahanadi KG Offshore 2 1 2 0 2 0

21 new notified discoveries in FY10 & 19 in FY11

(2)

All Crudes are Sweet and large portion being

light
5
Region

ONGC Operated Area 1,000 km 2) (1,000 km

INR

158 bn of capital / exploration in progress(3)

1 2 3 4

5 6 7 8

INR
1) 2) 3) 4)

592 bn of capex plan over FY11 and FY12

(4)

Himalaya & Ganga Valley Rajasthan Cambay Mumbai Offshore Kutch - Saurashtra Kerala - Kinkan Krishna - Godavari Cauveri Mahanadi - Bengal Assam - Arakan Mahanadi - Bengal - Purnea

14.9 0.2 9.4 40.6 43.8 108.8 101.3 84.9 57.6 16.6 6.8

Source DGH. Category 1 sedimentary basins Through Jan 27, 2011 As of FY10 As approved by the board of directors

Satpura - S.Rew a - Vindhyan Pranhita - Godavari 9 Krishna - Godavari 10 Cauveri 11 Andaman - Nicobar Offshore

15.7 4.9 5.4 70.3

10

Principal Producing Areas

Source: DGH; All data as on March 31, 2010. Discoveries as of Jan 27, 2011

ONGC: Domestic Strength in Acreage and Production


ONGC awarded more than 50% of NELP blocks
Cairn OIL 4% 2%
Others 9%

Others 15%

Cairn 10%

ONGC 51% RIL 28%

OIL 13% RIL 1% ONGC 67%

PEL Area (Sq. km) ML Area (Sq. km)


1) Note: PEL Petroleum Exploration License, ML Mining Lease; Includes NELP and nomination blocks 2) Source: DGH

Strong Reserves Accretion


Highest in last 2 decades in ONGC operated domestic fields

Domestic Reserve Replacement Ratio (RRR)


RRR more than 1

Crude Oil Production


(FY10)

Natural Gas Production


(FY10)

Others 10% OIL 11% Others 41%

ONGC 54%

ONGC 79%

OIL 5%

Note: Excludes JVs ; Reserve accretion for 3P

Note: Excludes JVs ; RRR for 3 P reserves

Source MoPNG ; ONGC figures include its share in JV

11

Significant International Footprint (OVL)


34(1) projects across 15 countries Sole Operated (11); Jointly Operated (6) and Non Operated (16) 20 years of 1P and 40 years of 2P reserves Production accounts for ~11% of Indias FY10 production
Syria

Access to International Partners / NOCs Amongst the largest overseas investors from India INR535 bn Net worth of INR116 bn

2
Cuba

Russia

Libya Venezuela

1
Iraq

1 1
Nigeria

Myanmar

Colombia

Iran

Vietnam

Brazil

Nigeria JDZ

Sudan

Egypt

9 Producing Assets
12

4 Under Development Assets

20 Exploration Assets

Note: 34th Asset is Sudans 741km long product pipeline (1) Other than the 34 projects mentioned above there are 6 projects/blocks which are currently being relinquished by the ONGC Group

Strong Relationship and Access to International Partners / NOC


Partnership Across Regions and with International NOCs and Oil Companies

Statoil Total Exxon Shell BP Repsol YPF

Rosneft

Sodeco

ECOPETROL PDVSA Petrobras

MOGE Sudapet

CNPC Sinopec Daewoo IOCL PV OIL GAIL KOGAS BPCL Petronas

13

OVL : Key Investments


Russia: Sakhalin-I Sudan Vietnam

OVL 20% stake Exxon (Operator)30% , Sodeco 30% , Rosneft (20%) Produced Oil of 1.532mmt during FY10 Produced Gas of 0.39bcm during FY10

GNOP (25%) CNPC 40% , Petronas 30%, Sudapet 5%

Block 6.1 (45%) BP (Operator) -35%, PV-20% Produced Oil of 0.042mmt during FY10 Produced Gas of 1.97bcm during FY10

Produced Oil of 2.126mmt during FY10 Block 5A (24.125%) Petronas 67.9%, Sudapet 8% Produced Oil of 0.247mmt during FY10

Venezuela

Colombia

Syria

San Cristobal (40%) CVP (60%) Produced Oil of 0.704 mmt during FY10

MECL (50%) Sinopec (50%) Produced Oil of 0.409 mmt during FY10

AFPC (Himalaya Energy (Syria) B.V. 33.3% to 37.5%) Himalaya Energy is a 50%-50% JV of OVL and CNPC Shell 66.7% to 62.5% Produced Oil of 0.718 mmt during FY10

14

OVL : Key Investments (Contd)


Imperial Energy BC-10, Brazil Carabobo Venezuela

Producing Asset in West Siberia Acquired in Jan 2009 for US$2.1 bn Production of 0.543 mmt in FY10 Extension of one of the field discovered in 2010 to be put on production in the near term

Deepwater offshore Block ONGC 15%, Shell 50%, Petrobras 35% First oil production on July 12th 2009 Production of 0.192 mmt in FY10

Ownership interest developing Carabobo blocks Consortium: ONGC 11%, Oil 3.5%, IOCL 3.5% Repsol 11%, Petronas11% & PDVSA 60%

15

ONGC Group : Large and Growing Reserve Base


Reserve Base (As Per Management Estimates)
mtoe

ONGC

OVL 186 357 398

1P 2P 3P

737 969 1,175

Diversified Reserve Base


OVL 22%
mtoe

OVL 29%

Gas
ONGC 78%

Oil
ONGC 71%

Note: The management estimates of the reserves of ONGC Group are under review by independent third party and maybe subject to changes. We intend to make the outcome of that review publicly available

16

ONGC Group: Operating Performance


Steady Production
(in MTOE)

With production from OVL Increasing

Domestic Production Gas (FY10)

60.7 57.4

61.8

61.2

60.9

Onshore, 23%

25.0
27.1 27.7

24.9

25.1

25.5

25.6

27.0 26.8

28.0

1.8
FY06

2.2
FY07

2.0
FY08

2.2
FY09 OVL

2.4

FY 10

ONGC (incl. JVs)

Offshore, 77%

Oil (FY10)
Onshore, 30%

33.7 30.7

34.7

33.6

33.0

26.1 4.6

27.9 5.8

27.9 6.8

27.1 6.6

26.5 6.5

FY06
FY06 FY07 FY08 FY09 FY 10

FY07

FY08 ONGC (incl. JVs) OVL

FY09

FY 10

Offshore, 70%

Oil
17

Gas

Note: ONGC includes JVs

Improved Recovery Through Prudent Measures


21 IOR/EOR & Redevelopment projects worth ~INR209 bn of investment upto FY10 Strong impetus on EOR / IOR Process to improve global recovery factor by 2020

15 Successfully completed Projects

Arresting Arresting Production Production Decline Decline


6 Projects under implementation

Fast track development of discoveries

Cumulative oil gain of more than 56 mmt

Recovery Factor improving from 28% in FY01 to 33.5% in FY10

18

E&P Infrastructure And Capabilities


Exploration Facilities(1)

Integration Across E&P Value Chain

28 Seismic Survey Crews

58 Workover Rigs

77 Drilling Rigs

107 Well Stimulation Units

26,598 km of pipelines in India

Production & Transportation Facilities(1)

6,707 km of sub-sea pipeline

~34% of the Entire Nations Crude Pipeline

198 Offshore Installations

25 Offshore Supply Vessels

240 Onshore Installations

Ankleshwar and Gandhar, Gujarat Handling Capacity: 0.1 mmtpa Oil & 1 mmscmd Gas Products: LPG, Naptha Tatipaka, Andhra Pradesh Handling Capacity: 0.1 mmtpa Oil Products: Naptha, SKO, HSD, Fuel Oil

Processing Infrastructure

Hazira, Gujarat Handling Capacity: 42 mmscmd Sour Gas Products: LPG, C2-C3, LAN

Uran, Maharashtra Handling Capacity: 20 mmtpa Oil & 16 mmscmd Gas Products: LPG, ARN, SKO, ATF, Propane, HSD
(1)

Kuthalam, Kaveri, Tamil Nadu Products: Naptha, SKO, heavy cut

19

Does not include 6 seismic crews, 47 drilling rigs, 21 workover rigs, 1 simulation vessel and 36 OSV/SMSVs charter hired

Integration into Refining


Overview
Acquired MRPL(1) in March 03 (holds 71.6%) Turned around in less than 4 quarters post acquisition Market value up 737%(2); Market Cap of INR116 bn (3) Capacity: 11.82 mmtpa; T-Put: 12.5 mmtpa and 106% Utilization in FY10
Current Plant

Strong Financials

Revenue of INR360 bn in FY10 ; PAT of INR11 bn Strong Credit rating - ICRA IR AAA & CRISIL CCR AAA
Current Plant

Strong Technological Capabilities

Flexibility to process diverse crude varieties (24-46 API) Designed to maximize middle distillates Capability to produce high grade fuels

Captive Power Plant with capacity of 112.5 MW

Integrated Infrastructure

All weather port at Mangalore Mangalore-Hassan-Bangalore product pipeline

Expansion Project

Expansion

Expansion to 15 MMTPA at cost of INR 121.6bn (scheduled completion in Dec, 11)

MRPL is Well Positioned to leverage Improving Refining Fundamentals


20
1. MRPL: Mangalore Refinery and Petrochemical Limited 2. 2003 till February 1, 2011 3. As on February 1, 2011

Integration Across Energy Value Chain


OPAL Incorporated in FY07 Dual feed cracker & polymer plants Scheduled completion Q3, 2013 ONGC : 26% GSPC : 5% GAIL : 19% SIs/FIs: 50%

ONGC Mangalore Petrochemicals Ltd Incorporated in FY07 Aromatic Petrochemical Complex for manufacturing paraxylene Scheduled completion Q4, 2012

ONGC : 46% MRPL : 3%

ONGC Tripura Power Company OTPC incorporated in FY2005 726.6 MW (2x363.3) Power Project in Tripura Scheduled Completion Q2, 2012

ONGC : 50% ILFS: 26% Govt. Tripura: 0.5% Others: 23.5%

Dahej SEZ Limited Incorporated in FY05 Proposed SEZ for petrochemical industries Scheduled completion Q3, 2011

ONGC : 23% GIDC : 26%

Mangalore SEZ Limited Incorporated in FY06 Proposed SEZ for petrochemical industries Scheduled completion Q3, 2013

ONGC : 26% KIADB : 23% ILFS+KCCI: 51%

21

New Growth Initiatives : Others


Shale Gas
Shale Gas Integrated Pilot project launched in Damodar valley (eastern India) in April, 2010 In association with Schlumberger First well spudded on 21st Sept 2010; Created exploration landmark on Jan 25, 2011 as Gas flowed from the R&D well in Durgapur

CBM

Coal Bed Methane Operating in 5 CBM blocks CBM production from Parbatpur, Jharia (Pilot project) commenced from Jan, 2010 MoU with Arrow Energy, Australia

UCG

Underground Coal Gasification Collaboration with Skochinsky Institute of Mining (SIM), Russia Site at Vastan, Gujarat selected Environmental clearance obtained for the Pilot Project in Feb, 2010 Mining Lease awaited from GoI

Wind Farms 50 MW Wind Farm commissioned in Sep FY08 - in Gujarat Estimated financial benefit to the tune of INR 450 mn per annum Plan approved for another 100 MW Wind Farm in Rajasthan

22

Key Industry Themes


Oil & Gas Production from Overseas Assets Forge New Partnerships (Eg. Recent Framework Agt.)

Equity Oil Inorganic Growth

Enhance Production (IOR/EOR)

Integration Projects

Subsidy Sharing Mechanism

23

Visionary Leadership and Strong Management Team


Board Of Directors

Chairman & Managing Director Shri A.K.Hazarika*


Government Government Nominees Nominees
Shri Sudhir Bhargava Shri Sudhir Bhargava Addl. Secretary, MOP&NG Addl. Secretary, MOP&NG Smt.L.M.Vas Smt.L.M.Vas Addl. Secretary, MOF Addl. Secretary, MOF

Functional Director Functional Director (Full Time) (Full Time)


Director (Onshore) Director (Onshore) Shri A.K.Hazarika Shri A.K.Hazarika Director (T&FS) Director (T&FS) Shri U.N.Bose Shri U.N.Bose Director (Finance) Director (Finance) Shri D.K.Sarraf Shri D.K.Sarraf Director (Offshore) Director (Offshore) Shri S.Vasudeva Shri S.Vasudeva

Independent Independent Directors Directors


Shri S.Balachandran Shri S.Balachandran

Special Invitees Special Invitees


Shri R.S.Butola Shri R.S.Butola MD, OVL MD, OVL

Shri S.S.Rajsekar Shri S.S.Rajsekar

Shri Santosh Nautiyal Shri Santosh Nautiyal

Smt. Anita Das Smt. Anita Das

Management Team with significant experience in the Oil & Gas industry

* Officiating Chairman and Managing Director

24

ONGC Group: Consolidated Financial Performance


Total Revenues (INR in bn)
Sustained Performance
1,106 1,036 1,086

EBITDA (INR in bn)


Improving EBITDA Margins
43.7% 40.6% 421 39.2% 434 475

FY08

FY09

FY10

FY08

FY09

FY10

PAT (INR in bn)


Maintaining Profitability
19.2% 17.9% 17.9%

Cash from Operations (INR in bn)


Stable Cash flows

290
199 198 194

290

288

FY08
25

FY09

FY10

FY08

FY09

FY10

ONGC Group: Consolidated Financial Performance (Contd)


Networth (INR in bn)
Strong Reserves
1,006 916 774
92.91 92.55 90.72

EPS (INR / share)

FY08

FY09

FY10

FY08

FY09

FY10

Dividend (INR in bn), Payout Ratio (%)


High Dividend Payouts

Debt Equity Ratio (INR in bn)

36.6% 34.2% 34.4% 71 0.05x

68

68 0.01x 0.01x

FY08

FY09

FY10

FY08

FY09

FY10

26

ONGC: Standalone 9 month FY11 Result Overview


Overview Revenue growth of 11.4% during nine month period ended December 31, 2010
Rs 454

Revenue (INR bn)


21% 11%

Rs 506

Rs 154

Rs 186

Q3 revenue up by 21.4% Net Profit up by 24% during nine month period ended December 31, 2010 Q3 Net Profit up by 132% For 9M FY11Gross Realisation of US$83.00/bbl For 9M FY11 Net Realisation of US$58.72 /bbl
9M FY10 9M FY11
Q3 FY10 Q3 FY11
9M FY10 9M FY11

Q3 FY10

Q3 FY11

EBITDA (INR bn)


45% 18%

Rs 331
Rs 93

Rs 135

Rs 281

Net Profit (INR bn)


24%

Rs 161 Rs 130

132%

Rs 71

Rs 31

9M FY10
27

9M FY11

Q3 FY10

Q3 FY11

The Subsidy Impact .


Overview of the Subsidiary Mechanism

Subsidy sharing mechanism devised by Government of India in 2004 Under-recovery is on the production from nominated fields ONGC Group continues to realize international prices on production from PSC JVs and OVL There is no surrender of Profit Petroleum to Government on revenue from nominated fields
Subsidy and Impact of Subsidy on PAT (INR in bn)
282

158 116 66 128 73

2009

2010

9M FY11

28

Corporate Governance and CSR Policies


First Sustainability Report as per GRi-G3 guidelines published Health Safety and Environment Framework in place CSR allocation increased to 2% of net profit in FY10 from 0.75% ONGC Whistle Blower Policy in place Robust IT Infrastructure in place

CSR Initiatives

Environmental Focus

Whistle Blower Policy

29

Thank you

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