This accretion comes from the ONGC – operated areas in the country including NELP blocks and also 12 new prospects and 13 new pool discoveries from the five onland and three offshore sedimentary basins.
The reserves status is evaluated annually in detail by a duly constituted Reserve Estimates Committee (REC) after thorough field-wise analysis. These reserves are adopted for the purpose of depletion charge as well as for impairment for the financial accounting.
The REC also brings out the reserve status in respect of joint venture (JV) operations in India and JV operations abroad through OVL.
