New Delhi: ONGC said that it has set an aim to produce 29.04 million tonne (mt) of crude and 25.05 billion cubic metre (BCM) of gas a day for 2008-09. According to the memorandum of understanding (MoU) inked with the Government on March 25 for its annual performance for 2008-09, the company has set these aims. Gross revenue for 2008-09 is hoped at Rs 54,601 crore and gross margins at Rs 31,933 crore. The company has set an aim for value added products at 3.320 million tonne of oil equivalent (MMTOE), and reserve accretion is 64.5 MMTOE. Value added products comprise LPG, kerosene, naphtha, and diesel. Crude oil, natural gas and reserve accretion targets comprise share from domestic, joint venture fields/acreages and exclude overseas acquisitions. The MoU aim for oil and gas production has been kept higher at the 2007-08 MoU target level, even though the cleared BE target is less for 2008-09.
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