HOEC to begin oil production from B-80 in April
OIL & GAS

HOEC to begin oil production from B-80 in April

In its two years of taking over the B-18 block, Hindustan Oil Exploration Company (HOEC) has discovered more resources and invested money to start an oil and gas output from April next year. P Elango, the Managing Director of HOEC, mentioned that the company would start producing nearly 8,500 barrels per day of oil and gas from its B-80 block.

Oil and Natural Gas Corporation (ONGC) made an oil discovery in one of the five well it had drilled in the B-80 block that is situated in the Arabian Sea, off the Mumbai coast. However, they failed to find economics to develop it. For the same reason, ONGC had established a 3,500 barrels per day production.

Elango added that the company carried out exploration work and studies while keeping its cost low and optimised production facilities.

HOEC converted an old jack-up rig into a Mobile Offshore Process Unit (MOPU) to produce, store oil offshore, and transfer it to refiners. It is more affordable than building a fixed platform on the block.

Additionally, the MOPU can store nearly 900,000 barrels of oil. Whereas, gas is delivered to the Gujarat market through an existing gas pipeline of ONGC.

HOEC has a 50% stake in the block whereas the remaining lies with Adbhoot Estates. HOEC has increased its stake in the block to 60% in the last week as Adbhoot are facing financial problems.

The company has a Rs 150 crore loan which will be used for capital spending and cash reserves for unforeseen costs. It also includes the installation of floating storage and offloading (FSO) units to commercialise the production of gas and oil.

B-80 block is a large resource base with potential for production as confirmed by Elango. Moreover, they have built a track record on execution by April 2021 to deliver first oil.

Image Source

In its two years of taking over the B-18 block, Hindustan Oil Exploration Company (HOEC) has discovered more resources and invested money to start an oil and gas output from April next year. P Elango, the Managing Director of HOEC, mentioned that the company would start producing nearly 8,500 barrels per day of oil and gas from its B-80 block. Oil and Natural Gas Corporation (ONGC) made an oil discovery in one of the five well it had drilled in the B-80 block that is situated in the Arabian Sea, off the Mumbai coast. However, they failed to find economics to develop it. For the same reason, ONGC had established a 3,500 barrels per day production. Elango added that the company carried out exploration work and studies while keeping its cost low and optimised production facilities. HOEC converted an old jack-up rig into a Mobile Offshore Process Unit (MOPU) to produce, store oil offshore, and transfer it to refiners. It is more affordable than building a fixed platform on the block. Additionally, the MOPU can store nearly 900,000 barrels of oil. Whereas, gas is delivered to the Gujarat market through an existing gas pipeline of ONGC. HOEC has a 50% stake in the block whereas the remaining lies with Adbhoot Estates. HOEC has increased its stake in the block to 60% in the last week as Adbhoot are facing financial problems. The company has a Rs 150 crore loan which will be used for capital spending and cash reserves for unforeseen costs. It also includes the installation of floating storage and offloading (FSO) units to commercialise the production of gas and oil. B-80 block is a large resource base with potential for production as confirmed by Elango. Moreover, they have built a track record on execution by April 2021 to deliver first oil. Image Source

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code