In its 299th Board Meeting held on the weekend, the ONGC presented the Quarterly results for the second quarter ended September 30, 2017. According to official sources, the ONGC Board has approved an interim dividend of 60 per cent, i.e. Rs three on each equity share of Rs five.
The total payout on this account will be Rs 3,850 Crore. The record date for distribution of dividend has been fixed for November 6, 2017 which has been intimated to the stock exchanges. The payment of interim dividend to the shareholders shall start from November 7, this year.
The ONGC has notified nine discoveries so far in FY’18 out of which four discoveries have been made since July 27, 2017. Out of the four discoveries, two discoveries each have been made in offshore blocks and onshore blocks.
Among the new prospect discoveries of ONGC, the exploratory well ANOR#1(ANOR-A) in NElP-VIII Block CB-ONN-2005/10 in Cambay Basin was drilled to a depth of 3500 metres. Among the new pool discoveries, the exploratory well G-1-15(G-1-AC-Shift) in G-1 PMl, KG Offshore Basin (Deep-Water) was drilled to a depth of 2350 metres. The exploratory well Vedireswaram-1(VED-AA) in Mandapeta field, Godavari Onland PMl was drilled to a depth of 3360 metres. The GS-29-8 Sub (GS-29-AI) in KG Offshore Basin (Deep-Water) was drilled to a depth of 2600 metres.