HOEC's first exploration well Vinayaka-1 in Block CY-OSN-97/1 to be plugged

Hindustan Oil Exploration Company Ltd (HOEC) has announced that the first exploration well Vinayaka-1 in Block CY-OSN-97/1 did not encounter hydrocarbons and Consortium has decided to plug and abandon the same. The Company has 80% participating interest in the said block.

The drilling rig Aban 7 shall move to PY-1 Gas Field to commence drilling of the first development well.

Source : Equity Bulls

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