ONGC's Assam Asset registers increase in crude oil production

ONGC's Assam Asset registers increase in crude oil production Guwahati: ONGC's Assam Asset has registered an increase in crude oil production to 1.223 Million Metric Tonnes (MMT) during the financial year 2012-13 as against 1.202 MMT in the previous fiscal.

Despite facing various constraints like ageing oil fields, depleting reservoir pressure, heavy monsoons etc, ONGC's Assam Asset, the company's oldest Asset, has been able to meet its targets for the third consecutive year, Asset Manager B K Baruah said at Nazira today.

In the gas segment too, the Asset registered a production of 472.2 MMSCM, thereby surpassing its target of 452.6 MMSCM. How it has fallen short of its gas sales target of 244 MMSCM by two per cent due to lack of consumers in the region, he said.

"On the production front, our performance has been quite satisfying although we faced unprecedented monsoon and flood situation during the year," Baruah added.

Drilling Services of the Asset has achieved 100 per cent target of operating 34 wells and this success can be attributed to continuous monitoring and pro-active measures taken during the year.

Following the continued success, the Asset would go ahead with the Perspective Plan-2030 which aims a two-fold growth in production, three-fold growth in revenue and profit, four-fold growth in market capitalisation and six-fold growth in international production by 2030.

In order to achieve the targets, Assam Asset has taken various steps like proper planning and timely resource mobilisation, reprioritisation of development drilling, adopting prudent reservoir management practices and judicious review of?field?production performances.

Assam Asset did not limit its focus on the production and operational areas only, but also displayed significant improvement in the performance of support services to enable overall progress of the Asset, Baruah added.

A slew of Corporate Social Responsibility (CSR) schemes have been undertaken by the Asset during the last financial year.

These include financial assistance for rebuilding of twelve PWD Roads, Kendriya Vidyalayas and other schools, beautification of Simaluguri Railway Station Road and Gandhi Maidan Park at Nazira Town, among others.

The company also implemented some major projects at the corporate level which include ONGC-GICEIT (Gandhi Institute of Computer Education and Information Technology) at Nazira, 'Amulya Dharohar' for preservation of heritage sites of Ahom dynasty in association with ASI in Sivasagar and 'Varisthajana Swastha Seva Abhiyan', a health care programme for senior citizens in rural areas under which Mobile Medicare Units were provided.

Baruah pointed out that a major CSR project planned during the current financial year 2013-14 was the setting up of a 300 bed Multi-Speciality Hospital at Sivasagar at a cost of Rs 100 crore during the first phase.

ONGC Assam Asset has always been proactive in championing the social cause and is trying its best to contribute to the socio-economic, cultural, educational, entrepreneurship, health care and sports, General Manager Corporate Communications/Support Manager Pallab Bhattacharya said.

"We are firmly committed to the local community and will continue to contribute to the social sector," he added.

PTI