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ONGC Assam Asset set to achieve targets

By Kongkon K Bora

SIVASAGAR, Sept 15 � Close on the heels of a good performance during the last fiscal, ONGC Assam Asset is all set to achieve all the targets in the first quarter of the current fiscal in spite of various odds that it faced during the period under review.

Interacting with the media at Nazira ONGC Club recently, BK Baruah, executive director, Assam Asset, said that ONGC has been able to over-achieve all the targets in the first quarter of the current fiscal except for gas sales which suffered a minor setback due to the lack of consumers.

Expressing his satisfaction on the overall performance in the first quarter, Baruah said it is the achievement of the entire team which has worked relentlessly to achieve the targets which, at times, seemed impossible.

During the first quarter, the oil production by the ONGC has been achieved at 105.2 per cent (0.302 MMT) against the planned output of 0.287 MMT. Similarly the gas production rose by 102 per cent at 118.29 MMSCM against the planned production of 115.96 MMSCM.

The gas sales, however, could garner only 97.5 per cent (60.61 MMSCM) of its target of 62.16 MMSCM due to the lack of consumers.

�But what remains most significant is the performance of the drilling services which has surpassed its target at 120 per cent. While the planned target was for five wells, the actual number of wells drilled stood at six,� said Baruah.

�After a long time we have tasted the success which remained elusive for years. Let it not wither away as we go forward with our mission of bringing our past glory back to Assam Asset�s crown. And for that we need very calculated moves and multidisciplinary team concept,� Baruah said.

Assam Asset has been able to put up a good show and production targets have been successively been overachieved. Incidentally, quarterly production targets have been achieved in last four consecutive quarters.

Owing to such an impressive show, the Asset had been able to break its shackle after quarter of a century. The MoU oil production targets of 1.149 MMT for the FY 2010-11 had been overachieved. The gas sales target had also been over-achieved by almost 7 per cent.

�Apart from its quest for excellence in the field of petroleum production, Assam Asset is not lagging behind in its social commitment. The Asset has adopted the policy of inclusive growth as a responsible corporate citizen and played an important role in strengthening the fabrics of the society with meaningful contributions in welfare and sustainable development activities involving all the stakeholders,� Baruah said.

�However, we have to understand that we have greater challenges ahead because of the monsoon which has already been forecasted to be very heavy this year. So, we have to prepare ourselves accordingly with a full-proof production plan during the monsoon season in order to accomplish our target in this quarter as well,� said Baruah adding, �there�s hardly any room for complacency. We need to work even harder and with the same team spirit.�

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ONGC Assam Asset set to achieve targets

SIVASAGAR, Sept 15 � Close on the heels of a good performance during the last fiscal, ONGC Assam Asset is all set to achieve all the targets in the first quarter of the current fiscal in spite of various odds that it faced during the period under review.

Interacting with the media at Nazira ONGC Club recently, BK Baruah, executive director, Assam Asset, said that ONGC has been able to over-achieve all the targets in the first quarter of the current fiscal except for gas sales which suffered a minor setback due to the lack of consumers.

Expressing his satisfaction on the overall performance in the first quarter, Baruah said it is the achievement of the entire team which has worked relentlessly to achieve the targets which, at times, seemed impossible.

During the first quarter, the oil production by the ONGC has been achieved at 105.2 per cent (0.302 MMT) against the planned output of 0.287 MMT. Similarly the gas production rose by 102 per cent at 118.29 MMSCM against the planned production of 115.96 MMSCM.

The gas sales, however, could garner only 97.5 per cent (60.61 MMSCM) of its target of 62.16 MMSCM due to the lack of consumers.

�But what remains most significant is the performance of the drilling services which has surpassed its target at 120 per cent. While the planned target was for five wells, the actual number of wells drilled stood at six,� said Baruah.

�After a long time we have tasted the success which remained elusive for years. Let it not wither away as we go forward with our mission of bringing our past glory back to Assam Asset�s crown. And for that we need very calculated moves and multidisciplinary team concept,� Baruah said.

Assam Asset has been able to put up a good show and production targets have been successively been overachieved. Incidentally, quarterly production targets have been achieved in last four consecutive quarters.

Owing to such an impressive show, the Asset had been able to break its shackle after quarter of a century. The MoU oil production targets of 1.149 MMT for the FY 2010-11 had been overachieved. The gas sales target had also been over-achieved by almost 7 per cent.

�Apart from its quest for excellence in the field of petroleum production, Assam Asset is not lagging behind in its social commitment. The Asset has adopted the policy of inclusive growth as a responsible corporate citizen and played an important role in strengthening the fabrics of the society with meaningful contributions in welfare and sustainable development activities involving all the stakeholders,� Baruah said.

�However, we have to understand that we have greater challenges ahead because of the monsoon which has already been forecasted to be very heavy this year. So, we have to prepare ourselves accordingly with a full-proof production plan during the monsoon season in order to accomplish our target in this quarter as well,� said Baruah adding, �there�s hardly any room for complacency. We need to work even harder and with the same team spirit.�