Oil and Natural Gas Corporation Limited — Q3 FY26

Oil and Natural Gas Corporation Ltd Q3 FY2025-26 Earnings Conference Call https://www.youtube.com/watch?v=OJ3a8b3Fo14 Published: 3 months ago

0:01 1 second Morning ladies and gentlemen. I am Mari moderator for the conference call. 0:05 5 seconds Welcome to OMGC's earnings conference caller ended 31st December 2025. 0:12 12 seconds We have with us today Sri Viviton director of financec and team who will interact with 0:19 19 seconds investors and analysts to discuss Q3 earnings. As a reminder, all participants will be in listen on remote 0:26 26 seconds and there will be an opportunity for you to ask questions after the presentation concludes. Should you need any assistance during the conference call, 0:34 34 seconds please signal an operator by pressing star and then on your touchstone form. 0:39 39 seconds Please note that this conference is being recorded. I will like to hand over the floor to Mr. Sh from his opening remarks. 0:50 50 seconds Yeah. Good morning. Good morning ladies and gentlemen. I am Vive Tonau, director of financec. 0:58 58 seconds I welcome you all to this earnings call for Q3 financial year 26. 1:05 1 minute, 5 seconds Thank you for joining us. I am accompanied today by my colleagues from OMGC. Mr. Satish Kumar Dwi is chief of joint venture and business development. 1:17 1 minute, 17 seconds Mr. Jay Kumar Singh he's our president planning and transformation Mr. Prakash Jooshi from investor relations cells and 1:26 1 minute, 26 seconds Mr. Shakhar Moanti from our corporate accounts we also have our colleagues from OMGC Videsh Limited Mishma Mr. 1:34 1 minute, 34 seconds Bishma Mandal and Mr. Dasan Satasari OMDC has compiled its financial results 1:42 1 minute, 42 seconds for the quarter and 9 months until 31st December 2025. 1:47 1 minute, 47 seconds The results were released on the 12th of February 2026 through a press note and shared with the stock exchanges and analysts. 1:56 1 minute, 56 seconds I'll now present the highlights of our performance. 2:00 2 minutes OMGC standalone crude oil production continues to show growth momentum. 2:06 2 minutes, 6 seconds During Q3 financial year 26 production stood at 5 4.592 million metric tons while the cumulative 2:14 2 minutes, 14 seconds output for 9 months financial year 26 reached 13.907 million metric tons. 2:23 2 minutes, 23 seconds This reflects a modest increase of.35% over the 9 month financial year 25. 2:31 2 minutes, 31 seconds Standalone natural gas production in Q3 financial year 26 registered an upward trend on yearon-year basis. 2:39 2 minutes, 39 seconds This highlights operation. 2:43 2 minutes, 43 seconds Improvement comes alongside the company addressing the year trend of Growth with cumulative output for 9 month financial 2:51 2 minutes, 51 seconds year 26 remaining steady thereby reinforcing stability in the gas portfolio. 2:58 2 minutes, 58 seconds During this 9month period of financial year 26, revenue from new well gas cost 3:05 3 minutes, 5 seconds 5,000 cr rupees. This delivered an additional 94 cr compared to the APM gas 3:12 3 minutes, 12 seconds price reflecting the premium eligibility of new well gas. 3:17 3 minutes, 17 seconds Notably, now the new well Gas contributes over 18% of OMC's total gas 3:24 3 minutes, 24 seconds sales revenue, underscoring its growing significance in the company's portfolio. 3:31 3 minutes, 31 seconds OMG is actively working towards boosting the performance from new gas wells. 3:38 3 minutes, 38 seconds OBC board has declared a second interim dividend of 125% 3:45 3 minutes, 45 seconds amounting to 6 rupees 25 per equity share of 5 rupees face value. This 3:54 3 minutes, 54 seconds translates into a payout of 7,863 cr rupees on top of the first interim 4:02 4 minutes, 2 seconds dividend of 6 rupees per share that is 120% announced in November 2025. 4:10 4 minutes, 10 seconds With these two payouts, OMGC has achieved a historic milestone. 4:15 4 minutes, 15 seconds This is its highest ever cumulative interim dividend of 15,411 cr in a single financial year. 4:23 4 minutes, 23 seconds underscoring our commitment to shareholder value with regard to KG 98 by2 4:32 4 minutes, 32 seconds as you are aware so far all the 26 wells have been drilled I'm happy to share that as for 4:41 4 minutes, 41 seconds the latest update SUFF that is subscical risers and flow lines and the subscri 4:49 4 minutes, 49 seconds production system SCS these works are nearing complete ition. 4:54 4 minutes, 54 seconds The central processing platform together with the bridge connected living quarters and utility platform have been fully installed. 5:03 5 minutes, 3 seconds In January 2026, the main support frame, the living quarter module was successfully pinned down on the LQUP 5:11 5 minutes, 11 seconds jacket followed by the installation of the living quarter unit helid and associated structures in February 2026. 5:22 5 minutes, 22 seconds This series of completions represents a decisive push toward forward reinforcing our confidence in unlocking the full potential of this strategic assessment. 5:35 5 minutes, 35 seconds Coming to Mumbai Highfield, the TSP1 is already showing encouraging production gains. 5:43 5 minutes, 43 seconds Additionally, Dan upside project, Dan upside development project in western offshore is also on track to be 5:50 5 minutes, 50 seconds monetized soon with a peak gas output expected at 4 to 5 mm cm. 5:57 5 minutes, 57 seconds OMG also has a robust pipeline of over 20 major development, redevelopment and infrastructure revamp projects under 6:05 6 minutes, 5 seconds execution with a total combined capex of about 77,000 crores. 6:11 6 minutes, 11 seconds These projects are designed to augment production, sharpen operational efficiency which will ensure sustained growth. 6:20 6 minutes, 20 seconds Importantly, core key infrastructure and revamp projects are slated for near-term completion. 6:28 6 minutes, 28 seconds Recognizing the volatility in crew global crude prices and the need to sustain profitability in a competitive environment, OGC has already adopted a 6:37 6 minutes, 37 seconds structured enterprisewide approach to efficiency and value creation. A dedicated cost council has identified 6:45 6 minutes, 45 seconds multiple areas where structural improvements can deliver long-term benefits. 6:49 6 minutes, 49 seconds Key focus areas where progress is there include inventory rationalization, 6:58 6 minutes, 58 seconds fuel efficiency, logistics optimization, manpower restructuring and integration of renewable energy into operations. 7:09 7 minutes, 9 seconds We now come to financials. At the consolidated level, net profit grew by 23% both on a quarterly and 9 month basis. 7:21 7 minutes, 21 seconds It was 11,946 crores in Q3 financial year 26 up from 7:28 7 minutes, 28 seconds 9,747 cr rupes in Q3 financial year 25. 7:35 7 minutes, 35 seconds For the 9 months financial year 26 the figure was 36,115 7:42 7 minutes, 42 seconds cr rupes compared to 29,364 cr rupees for the previous years 9 7:51 7 minutes, 51 seconds months this increase in profit can mainly be attributed to our subsidies and mrpl 8:01 8 minutes, 1 second and profit for Q3 financial year 26 was8 8372 crores up 1.6% 6% compared to 8,240 cr 8:12 8 minutes, 12 seconds in Q3 financial year 25 for the 9 month financial year 26 standalone net profit was at 26,244 cr 8:21 8 minutes, 21 seconds against 29,162 crores in the previous in the same period previous year 8:29 8 minutes, 29 seconds the increase in net profit during Q3 financial year 26 is on account of contribution from gas revenue higher other income and lower statutory level. 8:40 8 minutes, 40 seconds One point to note is that in spite of the decline in koi prices, OMGC's net profit at both in standalone and consolid level has been upwards. 8:54 8 minutes, 54 seconds Sales revenue in Q3 FY26 decline primarily due to 2,145 9:01 9 minutes, 1 second cr rupees drop in crude oil revenue and a 710 cr reduction in value added products which was partly offset by 9:09 9 minutes, 9 seconds increase of 55 crores in natural gas revenue compared to the same quarter last year. 9:15 9 minutes, 15 seconds Crude oil prices have declined to US 61.63 63 per barrel in Q3 financial year 9:23 9 minutes, 23 seconds 26 from US dollar 72.5 ton per barrel in Q3 financial year 25 which adversely 9:32 9 minutes, 32 seconds impacted our arena crude oil and value added products declined due to lower price realization 9:40 9 minutes, 40 seconds which was offset by increase in natural gas quantity and price resulting in a net decrease. 9:47 9 minutes, 47 seconds The rise in gas revenue was driven by incremental revenue of rupees 294 cr from new gas sales during the Q3 9:56 9 minutes, 56 seconds financial year 26 and incremental revenue of 944 cr for the 9 month period. 10:06 10 minutes, 6 seconds During Q3 financial year 26 taxes to the levy stood at 5,975 cr down from 6,630 10:14 10 minutes, 14 seconds crores in financial in financial year 25 which was a reduction of 653 cr 55 cr rupees that is 9.9%. 10:25 10 minutes, 25 seconds This decline is primarily attributable to lower royalty and SE driven by the average school 10:34 10 minutes, 34 seconds operating expenditure in the third quarter of financial year 26 to 7,151 cr compared to 6563 10:43 10 minutes, 43 seconds cr rupees in the same quarter last year which was an increase of 9%. 10:49 10 minutes, 49 seconds This rise is primarily attributable to our dah plant where LG consumption grew 10:55 10 minutes, 55 seconds significantly from 7.68 million mmq in Q3 financial year 25 to 11.331 11:04 11 minutes, 4 seconds mmq million mmq in Q3 financial year 26. 11:14 11 minutes, 14 seconds Also, there has been an increase in GST on oil services from 12% to 18%. 11:21 11 minutes, 21 seconds And we have worked diligently to keep our operational costs flat through disciplined management even in this challenging fiscal environment. 11:32 11 minutes, 32 seconds There is a decrease of 168 cr that is 2.5% in DD and I cost 11:40 11 minutes, 40 seconds which was 5,778 crores in Q3 finance year 25 11:48 11 minutes, 48 seconds to 6,610 cr in financial year Q3 financial year 26 this is mainly on account of impairment 11:56 11 minutes, 56 seconds reversal of 224 crores during the quarter compared to a small impediment loss of 4 crores will be uh 25. 12:06 12 minutes, 6 seconds With this strong operational execution, strategic progress and resilient financial performance 12:14 12 minutes, 14 seconds continues to reinforce its contribution in India's energy sector by working towards production growth. With this, I conclude my briefing on the third quarter results for financial year 2526. 12:26 12 minutes, 26 seconds We are now happy to take questions and answer them. Thank you. 12:31 12 minutes, 31 seconds Thank you sir. Ladies and gentlemen, we will now begin the question and answer session. If you have a question, please 12:39 12 minutes, 39 seconds press star and one on the telephone key and wait for your turn to ask the question. If you would like to withdraw 12:46 12 minutes, 46 seconds your request, you may do so by pressing star and one again. 12:53 12 minutes, 53 seconds First question comes from mobile from IC. Please go ahead. 12:59 12 minutes, 59 seconds Very good morning sir. Thank you for the opportunity. I hope I'm audible. 13:04 13 minutes, 4 seconds Thank you so firstly on the KG98 by thank you for updating us on the progress of these 13:12 13 minutes, 12 seconds associated but just wanted to understand now how are we looking at FI27 13:19 13 minutes, 19 seconds in terms of gas production ramp up. Can you share some numbers of where we expect production to be maybe at the exit of FI27 or over the over the year? 13:28 13 minutes, 28 seconds What kind of average output we expect now? 13:32 13 minutes, 32 seconds Your Yeah, your question is for KG 98 by2 only. Yes, as of now. Specifically. Okay. 13:39 13 minutes, 39 seconds Yeah. So, for KG98x2 as I have mentioned, we have already installed all the outstanding modules that were pending and which had held up the 13:47 13 minutes, 47 seconds production of gas till now. All those works have uh installation of those modules has completed. The currently we 13:55 13 minutes, 55 seconds are um in the process of cleaning them up and the commissioning etc would take place. Subsequent to that the wells 14:03 14 minutes, 3 seconds would be uh hooked up to these uh platforms and the they would start to flow. So we expect that the gas flow 14:12 14 minutes, 12 seconds from uh these wells should start from the next quarter which is from 14:19 14 minutes, 19 seconds uh April to June onwards and the gas would be ramped up coming towards the 14:26 14 minutes, 26 seconds end of uh financial year 27. We would expect that this uh gas uh quantum should increase to five to six mmd. 14:39 14 minutes, 39 seconds Got it. and and sir the peak uh guidance continues to remain at around 7 to 8 and will happen sometime 14:46 14 minutes, 46 seconds yes it continues to remain in that range okay and oil production sir is already at around the level that we I mean it is 14:54 14 minutes, 54 seconds around 25 to 30,000 as of now it is around those levels once all these works are completed we do expect that 15:03 15 minutes, 3 seconds the oil production also should stabilize and uh we should have uh certain additional production coming up 15:11 15 minutes, 11 seconds and the peak there was guided to around 40,000. Is that correct? 15:15 15 minutes, 15 seconds Yeah. 35 to 40 we had 35 to 40 we had mentioned. Okay. All right. 15:22 15 minutes, 22 seconds Uh the second question was with respect to sir uh opal. Can you just share some numbers in terms of how Opal's performance has been in this quarters and any guidance you can share of? 15:34 15 minutes, 34 seconds So for Opal uh it has now stabilized operations are going on well they have been performing uh they have been 15:41 15 minutes, 41 seconds operating at more than 90% of that capacity. Uh they have also uh 15:51 15 minutes, 51 seconds they have the average capacity utilization in Q3 uh was 9 months. So 9 months was uh 92%. 16:01 16 minutes, 1 second Okay. 16:03 16 minutes, 3 seconds Revenue from operations was 11,000 plus crores. 16:13 16 minutes, 13 seconds any any AIA numbers I can share. Yeah, AITA was uh uh 353 for the 9 month period the 11,000 K was also for the 9 month period right? 16:26 16 minutes, 26 seconds Yeah. 16:27 16 minutes, 27 seconds Yeah. So after all the uh right this is for no just one correction 16:34 16 minutes, 34 seconds 11,000 was for previous year for this year it is was 9,790 9,790 K was the revenue and 350 K all 16:44 16 minutes, 44 seconds odd was the EDIA for the 9month period right sir yes yes sir so so right so just wanted just a small 16:53 16 minutes, 53 seconds followup here uh after all the cleanup that has happened uh in terms the debt and conversion to what is the net debt 17:00 17 minutes now that is still sitting on Opal's book as of now it is around 23 24,000 cr 17:09 17 minutes, 9 seconds so is there any other measures that we are looking to do sir or now it we expect that the profitability is good enough to service the interest cost 17:17 17 minutes, 17 seconds which again probably uh you know would still be a few uh you know around 1,200 on the books 17:26 17 minutes, 26 seconds so As far as the profitability is concerned, we do expect that the profitability should increase because the capacity utilization should also 17:33 17 minutes, 33 seconds move up from now onwards now that everything has been stabilized. Uh even the petrochemical prices have started to 17:41 17 minutes, 41 seconds move up and therefore the future for 27 we expect that the performance should be much uh should be more positive than 17:49 17 minutes, 49 seconds this previous year than this current year. So we don't expect to have to infuse any more capital into this as of now. 17:57 17 minutes, 57 seconds No no no we are not expecting anything on that. 18:01 18 minutes, 1 second One last housekeeping question for any KEX guidance and uh production guidance for FI27 overall. 18:08 18 minutes, 8 seconds So broadly broadly OMGC will continue to have that capex of 32 to 33,000 18:16 18 minutes, 16 seconds would remain on exploration as such uh exploration uh production as such and 18:23 18 minutes, 23 seconds for production also we'll just give you those figures production for discussion for 18:32 18 minutes, 32 seconds for next year yeah next year we will be producing we targeting to produce total Power and gas is 52.5 million. 18:43 18 minutes, 43 seconds Sorry sir, I could not get is that 42.5 million oil and oil equivalent including oil and gas put together 42.5 million 18:53 18 minutes, 53 seconds or FI27 this is standalone numbers right or standalone production 19:01 19 minutes, 1 second okay thank you sir for the detailed answers I'll come back all yeah thank you thank you sir the next question comes 19:09 19 minutes, 9 seconds from Vagabar Rajinaran Romantic limited please go ahead. 19:16 19 minutes, 16 seconds That's an opportunity if you can give some idea about the discoveries during the 9 months. 19:22 19 minutes, 22 seconds Which you can actually uh put the number to. 19:27 19 minutes, 27 seconds So reserve accretion figures you'll be able to give on the yearly basis only. We normally do that on a yearly basis. 19:33 19 minutes, 33 seconds Uh we have had discoveries uh during this 9 month period. Uh if you want the total number of disco we'll give that separately. Uh 19:42 19 minutes, 42 seconds Praash would be able to give it to you separately. We have been reporting it on a basis as such. 19:50 19 minutes, 50 seconds And any update on the OV especially uh Venezuela and uh Mozambic. 19:59 19 minutes, 59 seconds So on um Mozambi the post measure has been lifted already work has started on ground over there. um 20:09 20 minutes, 9 seconds work has started fully over there on ground. So it should it is on track to start production from 28 onward. 20:16 20 minutes, 16 seconds Uh LNG production from 28 onwards. 20:19 20 minutes, 19 seconds Venezuela uh capex is is same there's no further 20:26 20 minutes, 26 seconds increase on the capex. Now another 20:34 20 minutes, 34 seconds on Venezuela. Yeah. On Venezuela, the we understand that the US government is progressively lifting sanctions or is in 20:42 20 minutes, 42 seconds the progress of uh liberalizing the trade from Venezuela and maybe allow other countries also companies also to 20:50 20 minutes, 50 seconds start operations over there. We are awaiting on those instructions as such but the movement is in the pro positive 20:57 20 minutes, 57 seconds direction and we are hopeful that we should be in a position to restart our operations once the uh the on ground and 21:05 21 minutes, 5 seconds the US sanctions get lifted uh totally from there 21:14 21 minutes, 14 seconds money due to 500 550 million $550 million 21:20 21 minutes, 20 seconds and that is the dividend that for sacklin sackin we continue to move ahead along with the Russian government also 21:28 21 minutes, 28 seconds and with the help of the Russian and the Indian government we are moving ahead uh we have been advised that our share of 21:35 21 minutes, 35 seconds facility has been secured in that uh company so which is a very positive step 21:42 21 minutes, 42 seconds as far as oval are concerned and we are hopeful that during this coming year we 21:48 21 minutes, 48 seconds should be in a position to have a share of our held up uh dividends 21:57 21 minutes, 57 seconds etc. So operations and otherwise the operations 22:05 22 minutes, 5 seconds operations continue to happen over there in Tuck. So production is happening over there. So that is not a issue for as far 22:13 22 minutes, 13 seconds as the production part operational part is concerned and there will be no change in the shareholding what you hold. 22:22 22 minutes, 22 seconds Yes. 22:24 22 minutes, 24 seconds There is no change it would continue to be one thing about the production targets 22:33 22 minutes, 33 seconds you can do a break up of oil and gas separately as well and possibly affect. Yeah. Yeah. Yes. 22:40 22 minutes, 40 seconds Yeah. This oil we are planning to produce near about 21 million tons and gas is 21.5 million tons. This is a 22:48 22 minutes, 48 seconds break up between oil and gas going to put together and we plan to increase the production 22:55 22 minutes, 55 seconds more than what we are planning for this 27. We areing on that and we'll be 23:13 23 minutes, 13 seconds Thank you sir. The next question comes from Maheswari from Stanley. Please go ahead. 23:21 23 minutes, 21 seconds Thank you for call on the production side. Can you just give a bit of a details around what's going on for the 23:29 23 minutes, 29 seconds rest of the block apart from KG on production RAM as well as I think we are still seeing a consistent challenges 23:36 23 minutes, 36 seconds especially on the daily side on that from the production perspective as well. 23:40 23 minutes, 40 seconds So what's going on there as well if you can give us a idea of what are you expecting for the for7 around production? 23:51 23 minutes, 51 seconds Yeah. 24:02 24 minutes, 2 seconds Yeah. In the MH field already we have engaged the TSP that technical support uh service provider DP and they already 24:10 24 minutes, 10 seconds started giving the advice and uh we have planned number of wells to be drilled as 24:18 24 minutes, 18 seconds and as identified jointly by OMG and BP and we are seeing the positive output from that area. So that is giving uh stability to OGC production. 24:29 24 minutes, 29 seconds Similarly for mil and DNS oil production are more or less study is there. So it 24:37 24 minutes, 37 seconds is giving uh desired production what we emphasize and similarly for onshore glacabad 24:45 24 minutes, 45 seconds and natana they are there we are drilling number of wells targeted and there also production is stabilized. So as such we are very confident of 24:54 24 minutes, 54 seconds achieving the target set for this year and as well as for next year's 26 27. 25:01 25 minutes, 1 second So mayanka additionally uh as DUDP project which is dhan upside project is on track uh we are already uh confident 25:09 25 minutes, 9 seconds that uh in the next quarter gas should start flowing from this uh this sorry from March itself this would start flowing gas would start flowing from 25:18 25 minutes, 18 seconds that project uh DSF round DSF project comes up for the next year last quarter 25:24 25 minutes, 24 seconds so that is also on track uh so these are the two projects which are going on uh well and would provide upside immediate 25:32 25 minutes, 32 seconds upside apart from that KG basin new gas which is uh about to come up. 25:40 25 minutes, 40 seconds Thank you for that. I think the on BP uh technical support that you have got can you give us a guess more details around 25:48 25 minutes, 48 seconds how much have you been able to kind of arrest the decline what is going on there and what are the positive outcomes that we have seen around that. 25:55 25 minutes, 55 seconds Yeah. So the uh decline has been uh we can say if I will stick my neck out and say that it has been arrested because it 26:03 26 minutes, 3 seconds is too early days but yes we have seen an uptick coming up in the production that we are getting from MH field where 26:10 26 minutes, 10 seconds we have TSP or BP working with us is uh higher than the it is about more than 26:17 26 minutes, 17 seconds 100% that we had uh what we had NVH so that production uptick has started to happen and we expect that they should 26:25 26 minutes, 25 seconds improve improve over the coming uh quarter. So BP's uh contribution has helped us increase 26:35 26 minutes, 35 seconds oil and gas from both MH uh from both from the MH field and it 26:42 26 minutes, 42 seconds has been MH field has given us about uh 7% nearly 7% higher MH field only I'm 26:49 26 minutes, 49 seconds not talking about best 7% higher than what we were expecting in this P quarter than what we were expecting earlier on so it has been a 26:58 26 minutes, 58 seconds positive positive play as far as we are concerned. 27:04 27 minutes, 4 seconds So is it fair to say that MH where you had 8 to 10% decline rate is now only 50%. Is that the right one? 27:11 27 minutes, 11 seconds Uh it is becoming positive. 27:16 27 minutes, 16 seconds Okay. By the quarter end I would be in a better position to give you the figures percentage wise and all that but it is already done. 27:26 27 minutes, 26 seconds Got it. Answer the second question was related to costs. You hypothesized on how you're trying to control cost and then I think previously the CM talked 27:33 27 minutes, 33 seconds about that as well. So in terms of targets that you have given earlier on cost control how much of that have you 27:41 27 minutes, 41 seconds been able to kind of get to and what you think will get achieved in February7. 27:48 27 minutes, 48 seconds So u those targets have not been met because the year is not yet closed or the period that we are talking about has not yet completed but we are on track to 27:55 27 minutes, 55 seconds do that. We have reduced our inventories. We are also taken uh structural steps to reduce costs in the 28:02 28 minutes, 2 seconds long run. Uh we have also started off with power port operations which reduces our logistics cost as far as the um 28:12 28 minutes, 12 seconds deployments are concerned for the northern part of Mumbai high fields. 28:19 28 minutes, 19 seconds Uh we have also optimized on the diesel consumption and actions have been taken over there. uh we have been taking 28:26 28 minutes, 26 seconds action on uh reduction in our cost as far as manpower or security is concerned. Uh so those things have 28:35 28 minutes, 35 seconds already started to translate into savings which would be reflected in the annual uh figures as such. Uh we are 28:42 28 minutes, 42 seconds also transitioning uh to renewable energy power our own generated power or green power that we will be using which 28:49 28 minutes, 49 seconds will reduce uh our power bills also. So all these are on track and results 28:57 28 minutes, 57 seconds should get reflected in this annual or this last quarter onwards further on. 29:05 29 minutes, 5 seconds Thank you. Very helpful. 29:07 29 minutes, 7 seconds And if you see in spite of the crude prices going down uh very substantially we have been able to report positive 29:13 29 minutes, 13 seconds figures both for the third quarter as well as for the 9 month period. 29:21 29 minutes, 21 seconds Yes. Thank you sir. 29:26 29 minutes, 26 seconds Next question comes from Sabri Hazarika from MT Capital. Please go ahead. 29:31 29 minutes, 31 seconds Yeah, good morning. So I have few questions. Uh first one is uh there has been some decline u on the share of US gaps from 21% to 18% for your precise. 29:44 29 minutes, 44 seconds Uh so is it I mean can you explain give more color on that? 29:52 29 minutes, 52 seconds % just something. 30:31 30 minutes, 31 seconds uh just hold on uh your point was that it has gone down from 21 to 18%. 30:37 30 minutes, 37 seconds Yeah, I mean what you mentioned in the mentioned 18%. 30:44 30 minutes, 44 seconds So 18% is on the basis of 9 month production what it is 30:52 30 minutes, 52 seconds revenue not quantity so revenue he's talking aboutity 31:00 31 minutes so what I was referring was that 18 21% was on the six monthly basis now if you 31:09 31 minutes, 9 seconds consider that 9 month production on that basis it is 18% Okay. And it is also on revenue I have seen. So it's fine. 31:18 31 minutes, 18 seconds It's on revenue also. Quantity. Yeah. Quantity. 31:22 31 minutes, 22 seconds Yeah. Second second question is um on this uh I think the director of production in the India energy week mentioned some figures 4,000 bars per 31:31 31 minutes, 31 seconds day of incremental production from this PP. 31:34 31 minutes, 34 seconds Could you clarify this? Yeah. It is too early to actually. So as I mentioned earlier to an earlier reply that we have 31:42 31 minutes, 42 seconds already seen positive results for MH MH field because of the TSP uh the quantification final quantification of 31:49 31 minutes, 49 seconds which we'll be in a position to give you at the end of this year or during the annual figures as such but yes there has 31:57 31 minutes, 57 seconds been a positive development in Mumbai high both for oil as well as gas. 32:02 32 minutes, 2 seconds Got it. Uh uh third small question what was the 9 months Jex uh spend on GEX for the company? 32:09 32 minutes, 9 seconds So we have spent around uh 24,000 K 24,400 32:16 32 minutes, 16 seconds right this last question uh I think it's a regulatory question so we see that uh 32:24 32 minutes, 24 seconds in the ODA amendment lot of has lot have been stated about stability and all but 32:31 32 minutes, 31 seconds the government basically raised the PS in the budget sharply and there is no input tax credit also 32:39 32 minutes, 39 seconds So is there any relief that the company can seek based on the amendment or look to accept it for now? 32:48 32 minutes, 48 seconds Uh as far as this GST increase is concerned uh uh we have looked uh we are 32:55 32 minutes, 55 seconds uh we don't think it would be possible for us to get that any relief as that act as such because GST act is 33:03 33 minutes, 3 seconds particularly for all the goods it's not necessarily for only oil and gas. 33:09 33 minutes, 9 seconds Okay. Anything related to MOPv could be like uh definitely could be short but this is coming from finances 33:17 33 minutes, 17 seconds and all those things what was happening earlier on on those things would not happen. Uh there there would be add 33:24 33 minutes, 24 seconds subsidy or infall tax or something like that. 33:28 33 minutes, 28 seconds Got it. Got it. Thank you so much and all the best. 33:35 33 minutes, 35 seconds Thank you sir. The next question comes from Gadan Digshit from LR security. Please go ahead. 33:41 33 minutes, 41 seconds Thanks for taking my question. Uh I have a question on on this Brahman upside uh uh development project. So what is the 33:47 33 minutes, 47 seconds expected gas contribution uh in FI27 MMD? 33:55 33 minutes, 55 seconds Uh okay. So full number that's we expect in FI27. Okay sir. And uh because all our project is on schedule drilling also 34:03 34 minutes, 3 seconds is already being done already. some wells could get hooked up immediately. 34:07 34 minutes, 7 seconds So we are from March itself we will have gas coming up in. 34:13 34 minutes, 13 seconds Okay sir. My second question is you mentioned four major infrastructure projects that's nearing completion. So so which are these and what is the 34:22 34 minutes, 22 seconds incremental production that they unlock over the time sir. 34:27 34 minutes, 27 seconds So the projects which were mentioned basically those were mainly one was dam what we were talking about which already s spoken the rest of the projects were 34:36 34 minutes, 36 seconds infrastructure projects what we are referring to. 34:41 34 minutes, 41 seconds Okay okay okay yeah that that's and d actually if you see it's already completed around 94%. 34:50 34 minutes, 50 seconds Okay. Okay sir. Yeah. Yeah. That's that's not my s. Thanks. 34:55 34 minutes, 55 seconds Next question comes from M Khan and from Ambit Capital. Please go ahead. 35:02 35 minutes, 2 seconds Yeah. Thank you for the opportunity. So my first question is on the investments outside of uh ENTP. 35:11 35 minutes, 11 seconds So you you had invested in IR renewables and you had highlighted targets for 2030 35:20 35 minutes, 20 seconds in terms of the uh gigawattage output that you expect from renewables. 35:26 35 minutes, 26 seconds Uh can you give us an update on that and the capeex commitment for FI2728 this year? I believe your cube guidance 35:34 35 minutes, 34 seconds is only for standalone. You can help us with this number. That's question one. I'll ask the next one after this. 35:41 35 minutes, 41 seconds Okay. For Ayana renewables, it continues to be on track for it is producing electricity from wind farm solar 35:49 35 minutes, 49 seconds projects which are there already. The projects under execution are continue to be executed. They should be completed within this finan coming financial year. 35:59 35 minutes, 59 seconds Um as far as the uh addition to all the targets that we are dealing for yes those stand at 10 gawatt stands for 2030 36:08 36 minutes, 8 seconds and towards that end we are already um looking at projects which we could acquire. There is one project which we 36:15 36 minutes, 15 seconds are setting up 300 gaw 300 megawatt project uh solar uh project that we would be setting up as a green field on 36:23 36 minutes, 23 seconds our own as of as of now. So our targets remain in place and we continue to 36:30 36 minutes, 30 seconds be on more or less on schedule for this thing. Would you like to add anything? Okay. Okay. 36:38 36 minutes, 38 seconds Yeah, that's it. Vick, anything further you want? 36:45 36 minutes, 45 seconds Oh, is there any capeex guidance you want to provide for FI 27 and 28 as far as renewable investment opportunities? 36:53 36 minutes, 53 seconds So uh these targets would be these uh uh for this renewable it would be more of 37:01 37 minutes, 1 second uh uh whenever we get uh opportunity we would be making those acquisitions or taking over those projects. So we have 37:10 37 minutes, 10 seconds not kept a target but we are open to for up to 10 gawatt we are uh we will be 37:18 37 minutes, 18 seconds working on that. So capex is not a problem for us. 37:22 37 minutes, 22 seconds Okay, the next question is on the prochemical investment plans. So you you 37:29 37 minutes, 29 seconds had been in talks to set up a green field refinery in Prag in KPI and uh 37:36 37 minutes, 36 seconds more recently I think chairman sir also commented about the prochemical story in the India energy week. any concrete 37:44 37 minutes, 44 seconds plans or any thoughts that you want to share here with respect to the negotiations for the prag land parcel the investment 37:53 37 minutes, 53 seconds day that you are planning and any timeline. Thank you. 37:58 37 minutes, 58 seconds We already working on the various various projects we are contemplating and working with the partners but still as of now no concrete plan has been 38:05 38 minutes, 5 seconds declared as regards to paragas. There is a land parcel available with BPCL. So we are in the talks with BPCL and with the 38:13 38 minutes, 13 seconds UP government. The plans are being worked out. Technoeconomics are being worked out but but no form plan as of now. 38:23 38 minutes, 23 seconds Okay. Thank you and all the best. Thank you. 38:29 38 minutes, 29 seconds Dear participants, if you have any questions, please press star one on your telephone keypad. 38:39 38 minutes, 39 seconds Next question comes from Sat Kapoor from Kapoor and Co. Please go ahead. 38:46 38 minutes, 46 seconds Yeah, sir. If I s Yes sir. Sir the the question is 38:55 38 minutes, 55 seconds pertaining to the the capex part from the PSU when when we are looking at your 39:01 39 minutes, 1 second ancillary companies uh suppose uh a pipe manufacturer the seamless pipes and or 39:08 39 minutes, 8 seconds the drill or the rig prices everywhere we have seen softness and also uh when we look at our uh his historical data 39:17 39 minutes, 17 seconds there are quarters for the December when there is uh there are lot of supply the demand being generated from the existing 39:26 39 minutes, 26 seconds fields in terms of the pipe orders being tendered. So that has not been the case for the current years. So can you give 39:33 39 minutes, 33 seconds us some outlook on on on your on your spending or your in on the on the pipes for the rigs uh for the results which 39:41 39 minutes, 41 seconds are already uh in in output just include the output there. Yeah. 39:56 39 minutes, 56 seconds Yeah. So our capex program is on track as we have already mentioned we we 40:04 40 minutes, 4 seconds continue to have capex of uh 30 to odd,000 crores for our um for our 40:10 40 minutes, 10 seconds company and uh as far as our ordering etc is concerned it is on uh track for meeting our capex as such. So we are not 40:19 40 minutes, 19 seconds in a position to comment upon um what about the other companies are concerned 40:28 40 minutes, 28 seconds right sir that when we hear the output part uh the oil output uh from the country and all are on declining trend 40:35 40 minutes, 35 seconds also correct me there if I my statement is incorrect. So going forward uh what 40:42 40 minutes, 42 seconds what should be uh what should be the output guidance from uh from the management in terms of the existing oil field and also uh in the which are in the expiratory states. 40:55 40 minutes, 55 seconds So as we have already mentioned earlier on 42 42.5 million metric t is the oil and gas equivalent that we are targeting for this coming uh financial year. 41:10 41 minutes, 10 seconds Thank you. So I joined the Thank you. 41:16 41 minutes, 16 seconds The next question comes from Mikas from CLSA India. Please go ahead. 41:23 41 minutes, 23 seconds Hi sir, thanks for taking my questions. 41:25 41 minutes, 25 seconds Uh I just wanted a little bit morning uh sir just a little bit more details on 41:32 41 minutes, 32 seconds each of these production projects and where they would take us if we try and visualize quarter by quarter or half by 41:39 41 minutes, 39 seconds half. So KG98 bar2 you said production should start flowing in in a couple of months say starting April to June that 41:47 41 minutes, 47 seconds quarter and the ramp up the incremental 5 to6 we I think we are already at about 2 m cd or so so the incremental 5 to6 41:56 41 minutes, 56 seconds will take 3 to four quarters is that what you said yeah but I said from April till April we 42:06 42 minutes, 6 seconds will be doing this ramp up etc and uh subsequently it should start coming up to 3 to 5 mm additional. 42:15 42 minutes, 15 seconds Okay. Additional fourth quarter. Yeah. Is Yeah. Yeah. Yes. Yes. Yes. 42:21 42 minutes, 21 seconds Okay. Okay. And T you said the start will happen in March and it will ramp up to the four to five very quickly. I mean 42:29 42 minutes, 29 seconds within a couple of months itself is that the likelihood of in a quarter it should July quarter it should definitely be there. 42:37 42 minutes, 37 seconds Okay. So all in all put together say sometime by between December and March of December 26 and March 27. So say by 42:47 42 minutes, 47 seconds July quarter we'll have an extra four five from Dan one two from uh you know about two one or two from KGD6 by July 42:56 42 minutes, 56 seconds by June July and then by somewhere by the fourth quarter we could have a total of incremental 10 MMS CMD from these 43:02 43 minutes, 2 seconds projects right? Yeah because by that time uh Vikasi our TSP would be also thereh more positive things. 43:12 43 minutes, 12 seconds Yeah. So more positive things we can you understanding because broadly in line. 43:18 43 minutes, 18 seconds Yeah. And uh sir MHfield coming back I just wanted to maybe I was thinking very quantitatively when you people were 43:26 43 minutes, 26 seconds saying that it has turned positive to the question that what is the decline rate is it that you've been able to arrest the decline as compared to the 43:34 43 minutes, 34 seconds earlier rate of over 7 8% decline of PH field is that what you mean by it has turned positive or it is just that the decline rate has reduced because maybe I 43:43 43 minutes, 43 seconds was thinking too quantitatively about the positive or not no positive is positive in the sense It is the decline has been arrested. 43:52 43 minutes, 52 seconds There has been an addition to that but figures we'll give you at the end of the year. 43:58 43 minutes, 58 seconds Okay. And so just to understand so this field was declining at over left to itself about six you know 6 7% every year or more was was that the case? 44:09 44 minutes, 9 seconds So broadly what happens is you estimate a decline because you can't project how much the field will decline over 10 year 44:15 44 minutes, 15 seconds period. So broadly it was being uh said that this is declining from 6 to 8% annual basis that is what we were 44:23 44 minutes, 23 seconds expecting this field to decline and accordingly uh had looked at looked for getting measures to arrest that decline. 44:31 44 minutes, 31 seconds There was a profile which was agreed to between uh BP and OMGC that this would be the base profile if we do nothing 44:40 44 minutes, 40 seconds case sort of sure this is how the production would decline and uh now we are getting production or so BP is actually to give 44:49 44 minutes, 49 seconds us production beyond that decline what they have committed is 10 uh million metric tons of 10 years Okay. Okay. 45:01 45 minutes, 1 second So that so you can say that the early gains have already started because versus your projected uh you know production levels we are doing better. 45:10 45 minutes, 10 seconds Yes. So if you remember I have been saying for the last two quarters that we have we are expecting uh BP or the TSP 45:17 45 minutes, 17 seconds to give us positive result from the fourth quarter of this financial year which we are already seeing it and uh 45:24 45 minutes, 24 seconds for the year end I think we should be in a position to give you those results also. Sure. And new well gas uh if not 45:33 45 minutes, 33 seconds talking about 9 months, not talking about 6 months, but if I were to look at the exit rate right now and maybe whenever the next recognition of 45:41 45 minutes, 41 seconds incremental production is say April or somewhere uh that new well gas uh would be what share of output uh say from around April as per your best guess. 45:54 45 minutes, 54 seconds So we would expect that every year or every quarter this percentage of new gas should increase because what happens is 46:02 46 minutes, 2 seconds for the existing uh field we would be working over the existing wells if they stop we will work over them or we'll be 46:09 46 minutes, 9 seconds doing certain other jobs we should increase the existing wells and the feeding so that becomes the new well gap 46:16 46 minutes, 16 seconds what we are expecting is that uh we should uh have an increase in 2027 Now 46:23 46 minutes, 23 seconds we are at 18%. You should increase up to 24% or something. 46:31 46 minutes, 31 seconds 24% from uh from April. Yeah. Okay. 46:40 46 minutes, 40 seconds Over the next 18%. 46:46 46 minutes, 46 seconds No. Sure sir. Understood. And uh uh sir just to get a confirmation on the pricing KG98 bar 2 will of course be HPHT and DN will be uh what price? 46:56 46 minutes, 56 seconds NW NWG NWG pricing. Yeah. Okay. Yeah. Thank you so much sir. Those were all my questions. 47:35 47 minutes, 35 seconds Repeat again. Hello. Hello. 47:43 47 minutes, 43 seconds Hello. Next question comes from Kaitan Mahita from Boda BNP Paribas. Please go ahead. 47:50 47 minutes, 50 seconds Thank you sir for the opportunity. 47:53 47 minutes, 53 seconds In our target for FY27 it's 42.5 million ton. What are we assuming about the BP at this point of time? Is it a 48:02 48 minutes, 2 seconds continuing decline or a zero decline for FY27? 48:08 48 minutes, 8 seconds What is my sorry question? I was asking in terms of the Mumbai high production field what is our 48:16 48 minutes, 16 seconds assumption for FY27 when we have shared in our target 42.5 million t 48:24 48 minutes, 24 seconds so for the 42.5 million t we have not considered any contribution from this TFP project 48:33 48 minutes, 33 seconds that would be that yes it would be an upside sure and in terms of the BPTs P would 48:42 48 minutes, 42 seconds you be also able to share the number of wells that we plan to drill and what would be the investment during FY27? 48:50 48 minutes, 50 seconds No, as of now by because that is still work in progress what we are doing and uh once that gets finalized then only 48:58 48 minutes, 58 seconds we'll be in a position to communicate uh about the details about the same which we should most likely maybe in the 49:06 49 minutes, 6 seconds annual results we would be able to tell you that's why I said the figures also we would be able to tell you around that 49:14 49 minutes, 14 seconds sure and in terms of the value creation that we are approaching I think would we be able to give more color on what kind 49:22 49 minutes, 22 seconds of numbers we can achieve during FY27 or the production figures are you asking 49:31 49 minutes, 31 seconds efficiency and value creation bucket that we have spoken about now the cost control cost 49:41 49 minutes, 41 seconds so we are targeting that uh we should be reducing our costs uh by around 1,000 49:48 49 minutes, 48 seconds crores by the various measures that we have uh undertaken. Now 49:57 49 minutes, 57 seconds this is additional 1,000 cr target over and above the measures that has been undertaken during FY26. 50:05 50 minutes, 5 seconds Is that a it is a continuation of those measures that we have taken in 50:14 50 minutes, 14 seconds Sure sir. Thank you. 50:23 50 minutes, 23 seconds Thank you. 50:24 50 minutes, 24 seconds The next question comes from Romesh an individual investor. Please go ahead. 50:30 50 minutes, 30 seconds Uh thank you. Uh so if you have to look at your u gas I understand that it's 50:37 50 minutes, 37 seconds going up from 18 to 24% right in terms of the share of overall gas production. 50:42 50 minutes, 42 seconds So you will get the incremental upside in the gas price on the addition of 6% uh on a weighted average basis right on 50:50 50 minutes, 50 seconds on your new gas. Is that the right way to understand that there would be an increase in the percentage of this new gas as a 50:57 50 minutes, 57 seconds percentage of the total quantum of gas produced. Uh another thing uh observe from the nomination field another thing is that the price that we 51:06 51 minutes, 6 seconds get would be 20% higher than the price that is uh given to the APM gas. 51:13 51 minutes, 13 seconds Yeah. I can understand. So basically in terms of the growth for next year you are expecting the share of your renewable gas to go from 18 to 24%. On 51:22 51 minutes, 22 seconds the additional 6% you will get the market base price based on the uh the 20% higher price. Right? That's the way to look at that. right 51:31 51 minutes, 31 seconds the market base it will be getting up to that 12% of the slope Indian uh crude 51:39 51 minutes, 39 seconds okay and if you look at beyond 20 beyond 27 is there any further increase possible in the share of the new gas 51:48 51 minutes, 48 seconds yeah normally what we are expecting that every year we should have additional incrementally gas new well gas coming up 51:55 51 minutes, 55 seconds from this nomination field even if you maintain the production We will even if we maintain the production we will have an uptick of around 7% or 52:04 52 minutes, 4 seconds so and in addition to that let me tell you uh currently it is at 6.75 from April 1st that filling will also go up by 25 cent which will be at $7. 52:17 52 minutes, 17 seconds Okay. Okay. The second thought is if you look at your segment numbers the petrochemical loss has come down. So uh do you have any line of sight in terms 52:26 52 minutes, 26 seconds of when you would be able to report a positive number for the segment results from the petrochemical segment given the kind of efforts you have put in to you 52:33 52 minutes, 33 seconds know restructure the feed stock and improve the product mix. When do you see that happen? 52:39 52 minutes, 39 seconds uh with this prochemical prices moving up and with uh the other cost under control uh we are quite hopeful that 52:47 52 minutes, 47 seconds we'll continue to be a bit positive for the full year next year and hopefully we should be turning the corner also. 52:55 52 minutes, 55 seconds Would that be visible from the first quarter itself or more likely from second half? 53:01 53 minutes, 1 second A bit positive we already a bit positive currently also. So we kind of we will continue to do that whether we turn the corner in the next quarter or the next 53:09 53 minutes, 9 seconds year or subsequent that would depend partly also on the prochemical prices. 53:16 53 minutes, 16 seconds So one last squeeze in the ethane sourcing arrangement you have with the EN ship and the agreement with Petro 53:22 53 minutes, 22 seconds LNG. So uh I I I know you can't possibly get into the commercial terms but in terms of the ethane sourcing are you in 53:29 53 minutes, 29 seconds a uh you know uh position to confidently have a line of sale in terms of uh the quantity you want and what would be the you know pricing mechanism for that. 53:39 53 minutes, 39 seconds Would you import it on a CIF basis of the ship or how would how would you go about you know uh fulfilling the 53:47 53 minutes, 47 seconds commercial terms and uh because that would have an impact on the economics of using ethane for your technical production. So broadly in terms of the 53:55 53 minutes, 55 seconds availability of the required quantities what proportion of the NAFTA you can replace and what would be the broad approach to the pricing. 54:02 54 minutes, 2 seconds Oh, let me come back to you. See the opar plant uses basically two stocks 60% na 40% ethane. So we are trying to 54:11 54 minutes, 11 seconds engage engage this 40% detain beyond 2028 uh terminal part has been fixed fixed 54:19 54 minutes, 19 seconds shipping arrangement has been made and uh we are in the process of process of fixing up the sourcing issue. So the the 54:26 54 minutes, 26 seconds quantity would be of the order of 600 ktpa pricing and all this we will decide at a later date. 54:34 54 minutes, 34 seconds Thank you very much. Wish you all the best. Thank you. 54:39 54 minutes, 39 seconds The next followup question comes from Sak Kapoor from Kapoor and Co East. 54:49 54 minutes, 49 seconds Yes. Namaskar. Hello. Yes. 54:54 54 minutes, 54 seconds Yes sir. uh just I'm referring to uh two new discoveries for Surya money and VJ 55:01 55 minutes, 1 second money uh so where are we in terms of uh the exploration activities uh and also 55:08 55 minutes, 8 seconds for the uh Mahanabi basin I think so some discoveries were made in 55:14 55 minutes, 14 seconds the M and DWHP 2018 blog and so secondly we had some uh uh some tie-ups with the Mr. 55:27 55 minutes, 27 seconds oil. 55:35 55 minutes, 35 seconds So, 56:12 56 minutes, 12 seconds positive. 56:16 56 minutes, 16 seconds uh coming to your first question on suryani and bajani we'll have uh uh regarding this vajani and pury money the 56:24 56 minutes, 24 seconds oil potential we have analyzed and uh being a margin field we are evaluating 56:32 56 minutes, 32 seconds various option including new way of installing the platforms which becomes viable 56:40 56 minutes, 40 seconds it is the west coast is the west coast Mahadi. 56:48 56 minutes, 48 seconds So the Suryamani and Vajamani are both in the western offshore part of our 56:55 56 minutes, 55 seconds field regarding Mahadi basin. What was your question that what is the discovery as such? 57:02 57 minutes, 2 seconds Yes, discovery as and when are we trying to explore capex? 57:07 57 minutes, 7 seconds So uh discovery or the development part of it will take some time. We are currently doing that uh um development plans are being made up. We uh once 57:17 57 minutes, 17 seconds those are finalized we will be in a position to indicate how much is the cost or the capital that we will be incurring for this uh uh discoveries to 57:24 57 minutes, 24 seconds be developed fully. Uh these are still in the preliminary stage and maybe in the next year we would be in a position to have our uh capex plans formed up. 57:37 57 minutes, 37 seconds Uh we have to drill some pal etc. So all those things would be finalized and then accordingly we'll de prepare the development plan. 57:46 57 minutes, 46 seconds Uh in my previous question also I have inquired about what kind of order tendering we have done in terms of uh 57:54 57 minutes, 54 seconds the specifically the stimulus five segment. uh if if you can give me comparable numbers for the current six financial year with the previous year 58:02 58 minutes, 2 seconds and for going ahead what have we outlined in terms of capital that will be attributable to the this category I 58:10 58 minutes, 10 seconds think these are consumables for us uh if you could just uh address from the uh as of now I would not be in a position 58:18 58 minutes, 18 seconds to give you those figures off hand as such because normally an analyst call will give you all details about what are 58:24 58 minutes, 24 seconds the major plans etc so So we restrict we don't have those details with us. You'll have to get it all. 58:32 58 minutes, 32 seconds Okay. I So the next question comes from Vive 58:40 58 minutes, 40 seconds Khanesh from Ambit Capital. Please go ahead. 58:44 58 minutes, 44 seconds Sir, thank you for the follow-up opportunity. 58:47 58 minutes, 47 seconds So as far as uh OVL is concerned uh can you give us an update on the dividends uh that that you expect from there and 58:57 58 minutes, 57 seconds any any status on the uh on the money that that you should have uh by now repatriated to India. What is the status of that given the geopolitical tension? 59:08 59 minutes, 8 seconds I believe there was some money that was stuck there. That is question one. And the second one if you could repeat the 59:15 59 minutes, 15 seconds update on the uh new well gas revenue contribution. Uh I think Sabri had asked earlier that you you had mentioned in 59:24 59 minutes, 24 seconds the 1 results that the revenue contribution was 21%. But in 9 months the revenue contribution declined to 18% 59:34 59 minutes, 34 seconds suggesting meaningful fall in new gas revenue contribution. Yeah those are my two questions. Thank you. 59:43 59 minutes, 43 seconds Okay, just this folder just folder 59:57 59 minutes, 57 seconds van we do have Mr. Ashri Gupta who is MD of OC V so he would respond to your query. 1:00:05 1 hour, 5 seconds Uh a very good morning to all of you. Uh uh the question was asked earlier and as we said that uh our interest in the 1:00:13 1 hour, 13 seconds Sakalin project is uh secured and uh we are in the project the productions and 1:00:19 1 hour, 19 seconds operations are normal uh our uh some the standard dividends of Bangkok on the other field which we was there that has 1:00:27 1 hour, 27 seconds also been uh utilized for our internal resources. So we are uh okay in that part of the world and uh it's now more 1:00:35 1 hour, 35 seconds or less normal. Yes uh the geopolitical tensions are going on but we do hope that there will be a resolution sooner 1:00:42 1 hour, 42 seconds than later regarding NWG. Just give me a minute. 1:01:56 1 hour, 1 minute, 56 seconds NWG 528 out of what was mentioned earlier was as was already clarified I think that key it was on the H1 the 21% 1:02:04 1 hour, 2 minutes, 4 seconds was on the H1 figure and uh this uh 18% is on the 1:02:11 1 hour, 2 minutes, 11 seconds 9 month figure. So for the H1 we had about 3,352 1:02:18 1 hour, 2 minutes, 18 seconds crores to be precise as the new well gas revenue upon a total uh revenue of 15,000 odd which comes out to around 20 21%. 1:02:28 1 hour, 2 minutes, 28 seconds Whereas in this case in the 9 months it is 5,000 plus crores of new well gas upon a gas of 23,000 o 24,000 odd which 1:02:38 1 hour, 2 minutes, 38 seconds comes out to 18%. So there has been incremental addition to the new well gas but as a percentage of the total gas 1:02:46 1 hour, 2 minutes, 46 seconds revenue it has the percentage has come down. 1:02:50 1 hour, 2 minutes, 50 seconds It is more of statistics than but it moved upward right sir why why has it come down 1:03:00 1 hour, 3 minutes sure in the gas price. Yeah, US gas price and other gas. 1:03:07 1 hour, 3 minutes, 7 seconds We will just put out that NWG gas sales figure also. Uh so that that should help you out to work out. Okay. 1:03:14 1 hour, 3 minutes, 14 seconds Yes. Yes. I think that would be more helpful because I think might be related to HPHT contribution maybe. Yeah, that's also there. 1:03:21 1 hour, 3 minutes, 21 seconds It is possible. But yes, it would be great if you can figure that number out. That is how it is. Yeah. Okay. Thank you so much. 1:03:30 1 hour, 3 minutes, 30 seconds Okay. Thank you. The next question comes from Somay from Aventad. Please go ahead. 1:03:39 1 hour, 3 minutes, 39 seconds Thanks for the opportunity sir. So the question is on the production output for F27 the growth that we are building on a YI basis. So if you could just help us 1:03:48 1 hour, 3 minutes, 48 seconds with one uh what is the natural decline rate that gets built in? Uh two in terms of projects uh Dan and KG are the two 1:03:57 1 hour, 3 minutes, 57 seconds major ones that we are factoring in for growth. 1:04:01 1 hour, 4 minutes, 1 second We've already mentioned this thing. I lifted it for KG. We have already mentioned that all our modules have been installed. Um and now we are doing the 1:04:10 1 hour, 4 minutes, 10 seconds hookup commissioning etc will be carried out and from this uh next year onward we should have the gas flow coming up and 1:04:17 1 hour, 4 minutes, 17 seconds we would have four to 5 mm FMD from KG basin in the next year. For Dun upside also we have mentioned that our wells 1:04:25 1 hour, 4 minutes, 25 seconds have been drilled are under process drill. We are in process of doing the jacket and well platform installation etc. We are 1:04:33 1 hour, 4 minutes, 33 seconds expecting first gas to come in from this marsh itself and for the next year we would have again another four to 5 mm SMD of gas coming up from Danapide 1:04:42 1 hour, 4 minutes, 42 seconds project as such. As far as the targets are concerned um whenever we give the targets those 1:04:51 1 hour, 4 minutes, 51 seconds we do factor in whatever are the um likely reductions or expected declines for those fields and the measures that 1:04:59 1 hour, 4 minutes, 59 seconds we are going to take. So it is not that we would have just a reduction coming up in all the fields. There would also be 1:05:07 1 hour, 5 minutes, 7 seconds actions that would you would have taken billing of belts you would have done etc which would take care of the targets that are to be achieved. 1:05:16 1 hour, 5 minutes, 16 seconds So uh uh just wanted to understand what would be the at the blended portfolio level uh what would be the decline. Uh 1:05:24 1 hour, 5 minutes, 24 seconds so broadly we consider you can consider that this would be around depending upon the fields this can be around six to 1:05:31 1 hour, 5 minutes, 31 seconds seven or 8% declines on normal basis but fields do behave differently. If you see other fields at other places also 1:05:39 1 hour, 5 minutes, 39 seconds declines have been very sharp. It depends upon the field. It depends upon how much you are extracting. It depends on what processes you are using 1:05:47 1 hour, 5 minutes, 47 seconds vintage of the field theage of the field etc. Many factors which contribute to the decline decline uh in production for feed as such 1:05:56 1 hour, 5 minutes, 56 seconds broadly we have been considering it to between 6 to 8%. 1:06:00 1 hour, 6 minutes Okay. So uh the question on the projects was uh are these two the only major projects that we are considering in 27 1:06:08 1 hour, 6 minutes, 8 seconds or is there few more projects that gets built into this 27 out. So DSF2 project is coming up which is again a gas in the 1:06:16 1 hour, 6 minutes, 16 seconds west coast and we are expecting it to come on stream in the last quarter of the next year. 1:06:25 1 hour, 6 minutes, 25 seconds Oh thank you. 1:06:30 1 hour, 6 minutes, 30 seconds Thank you sir. There are no further questions. Now I hand over the floor to shriek for closing comments. 1:06:38 1 hour, 6 minutes, 38 seconds Yeah thank you very much Maduri. Thank you all participants for being on the call with us and we do hope that we would have replied to your uh questions. 1:06:46 1 hour, 6 minutes, 46 seconds Any further details you can be in touch with our IRC fella over here. I would just like to mention that as we have 1:06:54 1 hour, 6 minutes, 54 seconds been uh saying earlier in different calls that uh TSP we are expecting positive results or we would be getting 1:07:03 1 hour, 7 minutes, 3 seconds certain results in the last quarter of financial year 26. I have already mentioned we are also getting positive results and we would be in a position to 1:07:11 1 hour, 7 minutes, 11 seconds quantify that uh at the end of this year. Uh secondly our KG basin uh T82 1:07:18 1 hour, 7 minutes, 18 seconds project which had been uh delayed because of certain reasons which were has now uh we have now been uh able to 1:07:27 1 hour, 7 minutes, 27 seconds install all the modules over there. The hookup commissioning works would be underway and we do expect gas to start 1:07:34 1 hour, 7 minutes, 34 seconds flowing from the immediate uh in the beginning of this uh coming financial 1:07:40 1 hour, 7 minutes, 40 seconds year. DUDP is also on track our gas we expect to flow from uh this March itself. So those are upsides that are 1:07:49 1 hour, 7 minutes, 49 seconds there and I think one major point one major decision which the board has also taken is to announce a dividend of 6.25 25 rupees per share. 1:08:00 1 hour, 8 minutes Considered with the first interim dividend of six, it is a total amount that we are giving is 12.25 which was 1:08:08 1 hour, 8 minutes, 8 seconds the dividend that we had paid for the previous year. So on an interim dividend basis, this is the highest cumulative interim dividend that we have paid. uh 1:08:17 1 hour, 8 minutes, 17 seconds it signals a very strong uh we are very um quite positive about 1:08:25 1 hour, 8 minutes, 25 seconds the future of this company and we are also taking care of our stakeholders uh so that they get optimum returns also. 1:08:33 1 hour, 8 minutes, 33 seconds So we do hope that uh this would uh the stakeholders would also welcome uh this 1:08:40 1 hour, 8 minutes, 40 seconds this was one long-standing demand from the investors also about uh the returns or the rewards that are given to the uh 1:08:48 1 hour, 8 minutes, 48 seconds shareholders and we think we would be in a position to reward the shareholders in the future also. Thank you very much. 1:08:58 1 hour, 8 minutes, 58 seconds Thank you sir. Ladies and gentlemen, this concludes your conference for today. Thank you for your participation and for using those conference call 1:09:06 1 hour, 9 minutes, 6 seconds service. You may disconnect your lines now.