HOEC Update On PY -1 Block Operations
Hindustan Oil Exploration Company Limited (HOEC) announced the successful completion of a two well re-entry and sidetrack drilling campaign of Mercury and Earth wells which commenced in April 2018. Based on the test results of these wells there is an increase in gas production by about 10 mmscfd from the current level of 2 mmscfd. PY-1 Block is 100% HOEC owned Offshore field with the facilities to handle this production without any additional operating costs.
Successful completion of the two wells opens up opportunities for further exploitation with simple, shallower and cost-effective vertical wells. HOEC is keen to pursue this new lead in future drilling campaigns after geotechnical studies based on the production performance
PY-1 Block has a fully developed infrastructure with a long-term gas sales contract with GAIL which ensures full offtake of the quantity produced.
P. Elango, Managing Director - HOEC said, “We are particularly excited with the enhancement of gas production from our legacy Asset PY-1. This reinforces our firm belief of its yet-to-be recovered reserve and resource base. We are keen to execute similar successful offshore drilling campaigns in future and will continue our attempts to increase production to lever the fully developed infrastructure.”