Oil and Natural · Material risks, their source context, and severity in the latest available quarter.
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Risk intelligence
Crude oil guidance trimmed to ~20 MMT from 21 MMT target; gas guidance slightly below 21.5 BCM. Production deferment to Q1 FY27 from delayed KG 98X2 living quarters installation (Dec-Jan monsoon period impact).
Force majeure still not formally lifted pending partner ballot (expected within days); project cost may exceed approved $18.2 billion requiring additional DACF approval. OVL's total exposure ~$8.8 billion including $6.6 billion equity already invested.
Production ceased from July 1, 2025 as uneconomical; awaiting Vietnam government to develop PC area for potential resumption.
Oil production at KG 98X2 declined to 28,000 bbl/day from 30,000 bbl/day last quarter due to well activity issues; recovery dependent on intervention results, not guaranteed.
