Indian Oil Corporation Limited 3rd Integrated Annual Report 61st Annual Report 2019-20

About the Report

NOTES TO FINANCIAL STATEMENTS NOTES TO FINANCIAL STATEMENTS

Note - 34A : DISCLOSURE RELATING EXPLORATION AND PRODUCTION ACTIVITIES Note - 34B : IN COMPLIANCE OF REVSIED GUIDANCE NOTE ON ACCOUNTING FOR
OIL AND GAS PRODUCING ACTIVITIES, THE REQUIRED DISCLOSURES IN RESPECT
In compliance of Ind-AS-106 on “Exploration and Evaluation of Mineral Resources”, the disclosure of financial information
relating to activity associated with the exploration for and evaluation of mineral resources (crude oil, natural gas etc.) are OF RESERVES ARE AS UNDER:

Chairman’s Desk
as under:

From the
(₹ in Crore) Dirok field of Pre-NELP block AAP-ON-94/1 commenced production of gas and condensate on August 26, 2017 having
Name March 31, 2020 March 31, 2019 producing life cycle of 20 years. Indian Oil has the participating interest of 29.03% in the block.
(i) Assets 252.14 242.73 Net Proved Reserves of Crude Oil, Condensate, Natural Gas Liquids and Gas:
- Intangible Assets under Development 247.31 239.27 March 31, 2020 March 31, 2019

About IndianOil
- Capital Work in Progress 0.79 0.79 Crude Oil, Crude Oil,
- Other Assets 4.04 2.67 Condensate, Natural Gas Condensate, Natural Gas
Assets
NGLs NGLs
(ii) Liabilities 98.00 115.70
Million Cubic Million Cubic
- Provisions 2.31 2.31 TMT TMT
Meter Meter
- Other Liabilities 95.69 113.39 A) Proved Reserves

Description of Capitals
(iii) Income 10.33 - Assam AAP-ON-94/1 Begining 69.46 1621.05 47.42 1715.26
- Other Income 10.33 - Addition - - 32.04 -
(iv) Expenses 28.98 71.56 Deduction 24.91 396.25 - -
- Exploration expenditure written off 0.01 0.09 Production 8.74 87.59 10.00 94.21
- Other exploration costs 28.97 71.47 Balance 35.81 1137.21 69.46 1621.05

Board of Directors, etc.

(v) Cash Flow Total Proved Reserves 35.81 1137.21 69.46 1621.05
- Net Cash from/(used) in operating activities (37.71) (49.51) B) Proved developed Reserves
- Net Cash from/(used) in investing activities (8.82) (42.73) Assam AAP-ON-94/1 Begining 69.46 1621.05 47.42 1369.16
Addition - - 32.04 346.10
Deduction 24.91 396.25 - -

Directors’ Report
Production 8.74 87.59 10.00 94.21
Balance 35.81 1137.21 69.46 1621.05
Total Proved developed Reserves 35.81 1137.21 69.46 1621.05

Net Proved Reserves & Proved developed Reserves of Crude Oil, Condensate, Natural Gas Liquids and Gas on geographical

Discussion & Analysis

Basis:

Management’s
March 31, 2020 March 31, 2019
Crude Oil, Crude Oil,
Condensate, Natural Gas Condensate, Natural Gas
Details
NGLs NGLs

Responsibility Report
Million Cubic Million Cubic
TMT TMT
Meter Meter

Business
A) Proved Reserves
India 35.81 1137.21 69.46 1621.05
Total Proved Reserves 35.81 1137.21 69.46 1621.05

Corporate Governance
B) Proved developed Reserves

Report on
India 35.81 1137.21 69.46 1621.05
Total Proved developed Reserves 35.81 1137.21 69.46 1621.05

Frequency
The Proved (PD) and Proved & Developed (PDD) reserves mentioned above are the provisional numbers based on the estimate
provided by the operator. For the purpose of estimation of Proved (PD) and Proved Developed (PDD) reserves, Deterministic

Financial Statements
method has been used by the operator. The annual revision of Reserve Estimates is based on the yearly exploratory and

Standalone
development activities and results thereof.

234 Financial Statements Financial Statements 235