New Delhi, Nov 14 (PTI) Hindustan Oil Exploration Co Ltd(HOEC) has submitted a USD 43-million development plan tobring to production the Mumbai offshore oil field it had wonin the first discovered field auction in March.
HOEC is the first company out of the 31 that signedcontracts for the fields won in the auction in March, to havesubmitted a field development plan (FDP).
"We have submitted to the Directorate General ofHydrocarbon (DGH) an FDP for B-80 block that envisagesproduction of 5,000 barrels of oil and 15 million standardcubic feet per day of gas by 2020-21," HOEC CEO P Elango toldPTI.
The B-80 block, which lies in the vicinity of state-ownedOil and Natural Gas Corporation's (ONGC) giant oil and gasfields in Mumbai offshore, is estimated to hold inplacereserves of 40 million barrels of oil and 26 billion cubicfeet of gas.
Elango said the plan envisages drilling two new offshorewells and installing a Mobile Offshore Process Unit (MOPU).
The processed oil and gas will be transported byconnecting to nearby oil and gas pipelines of ONGC fordelivery to customers at an estimated capital investment ofabout USD 43 million over 30 months, he said.
"For HOEC, this foray into iconic Mumbai offshore area onthe west coast will open up an exciting new phase and willbuild on its experience to enhance our core competence as alow cost and fast-track developer of oil and gas fields," hesaid.
Besides B-80, HOEC is focused on raising natural gasoutput from its Assam fields, where commercial productionstarted recently.
HOEC sells 10 million standard cubic feet per day(mmscfd) of gas from the Dirok field in Tinsukia district ofAssam to Brahmaputra Cracker and Polymer Ltd. The output isplanned to be raised to 36 mmscfd or 1 million standard cubicmetres per day by April 2018, he said.
Production from Dirok will be over 12 per cent of totalgas production in Assam. About 8 mmscmd of gas is produced inAssam currently.
Also, it is working on reviving production from PY-1oilfield in Tamil Nadu by drilling two wells that would raisethe output to 10 mmscfd, from 2.5 mmscfd, he added. PTI ANZARD.
This is unedited, unformatted feed from the Press Trust of India wire.