HOEC To Produce Oil From Mumbai Field By 2021, Invest $43 Million

HOEC To Produce Oil From Mumbai Field By 2021, Invest $43 Million

Hindustan Oil Exploration Co Ltd (HOEC) has submitted a USD 43-million development plan to bring to production the Mumbai offshore oil field it had won in the first discovered field auction in March.

HOEC is the first company out of the 31 that signed contracts for the fields won in the auction in March, to have submitted a field development plan (FDP).

“We have submitted to the Directorate General of Hydrocarbon (DGH) an FDP for B-80 block that envisages production of 5,000 barrels of oil and 15 million standard cubic feet per day of gas by 2020-21,” HOEC CEO P Elango told .

The B-80 block, which lies in the vicinity of state-owned Oil and Natural GasCorporation’s (ONGC) giant oil and gas fields in Mumbai offshore, is estimated to hold inplace reserves of 40 million barrels of oil and 26 billion cubic feet of gas.

Elango said the plan envisages drilling two new offshore wells and installing a Mobile Offshore Process Unit (MOPU). Read More…

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