ONGC to set up facility at Rajahmundry

RAJAHMUNDRY (AP): State-run oil exploration giant ONGC will set up an integrated offshore supply base-cum-processing unit in Kona here, a top company official said on Thursday.

While remaining focused on oil and gas, E&P, ONGC has taken concrete steps to explore new energy frontiers, A A Khan, Executive Director and Asset Manager, said here.

The company recorded a net profit of Rs 6,036 crore in the first quarter ended June 30, up from Rs 4,611 crore in the corresponding period last year.

The turnover during the first quarter of 2008-2009 was Rs 20,123 crores. Crude oil production was 6.41 MMT, while gas production stood at 5.63 BCM during the first quarter of 2008.