Hindustan Oil Exploration Company Limited updates on B-80 Project

The pre-commissioning and safety checks at KGB-Offshore Installation (MOPU) and FSO Prem Pride (FSO) are complete and the system is ready to receive the first hydrocarbons.

The well opening sequence was followed to bring the first well safely on production, however we have encountered operational issues and troubleshooting is currently ongoing.

The delay witnessed in the commencement of production from the field being unanticipated, necessary corrective actions are being taken by the Company, and the field will safely be brought on line for production as soon as the issues are rectified.

Shares of Hindustan Oil Exploration Company Limited was last trading in BSE at Rs. 219.85 as compared to the previous close of Rs. 225.30. The total number of shares traded during the day was 70320 in over 1664 trades.

The stock hit an intraday high of Rs. 225.80 and intraday low of 218.00. The net turnover during the day was Rs. 15519363.00.

Source : Equity Bulls

Keywords

HindustanOilExplorationCompany INE345A01011 HOEC B80Project Update