OIL’s Natural gas production increases to 1459 MMSCM

GUWAHATI: Oil India Limited, India’s second-largest National Exploration & Production (E&P Company under the leadership of CMD Sushil Chandra Mishra, in its 507th board meeting held recently approved the Q2 and H1 FY 2019-20 results, stated a press release.

The performance highlights are as follows: The natural gas production registered an increase and rose to 1459 MMSCM during the first half-year of FY2019-20 as compared to 1430 MMSCM during H1 FY2018-19. Crude Oil production stood at 1.63 MMT during H1 FY 2019-20 as against 1.70 MMT during H1 FY2018-19.

Due to a fall in international crude oil prices, the average Crude Oil price realization is lower by 12.29% to USD 63.81/BBL in H1 FY2019-20 as compared to USD 72.75/BBL during H1 FY2018-19.

Average Crude Oil price realization during Q2 FY2019-20 was USD 61.30/BBL which was lower by 16.51% as compared to USD 73.42/BBL during Ql FY2018-19. Natural gas price realization during H1 FY 2019-20 improved to USD 3.69/MMBTU as compared to USD 3.06/MMBTU in H1FY 2018-19. EBITDA for H1 FY2019-20 was lower by 9.43% at Rs 2,986.67 crore as compared to EBITDA of Rs 3,297.62 crore in H1 FY2018-19.

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