The Asset Manager has said that the Cauvery Asset had achieved impressive productivity on all fronts this year.
Recounting the performance of Cauvery Asset, Prabhakumar said that the Asset had crossed its annual oil production target well ahead of the schedule. On January 20, the asset exceeded the target, he said. “This is a breakthrough in the history of Cauvery Asset that the production Target of oil has been achieved 71 days ahead of schedule,” he added.
He further said the Asset would also achieve gas production and sales target ahead of schedule this year. Asset has taken proactive measures to enhance the Gas production and sales from Ramnad area. “Completion of the Gas Trunk line between Kanjirangudi and Ramnad Gas Collecting Station is expected to be completed by end of Feb this year. This would facilitate additional gas supply to the consumers who are ready to draw more gas in the region,” said Prabhakumar.
ONGC, Cauvery Asset has achieved an all time high revenue of Rs 1462 Crores during the last three quarters with the profit before tax amounting Rs 907 Crores, he added.