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Stock Report
Hindustan Oil Exploration Company Ltd resumes oil production from D-1 well of B-80 fiele
Posted On : 2022-12-12 08:49:22( TIMEZONE : IST )
Hindustan Oil Exploration Company Limited has resumed oil production from D-1 well in its B-80 field, located in western offshore, after arresting a leak in the SCSSV control line. Due to the aforesaid issue, the well D1 was shut down and now brought on to production after the pumping of a sealant and opening the SCSSV isolation valve on the subsea tree. Currently both the wells are on production, and the flow rate of oil and gas of both D1 and D2 wells are about 1800 BOPD and about 9 MMSCFPD of gas, lesser than the capacity of the wells.
Production is being restricted due to capacity limitation of the test separator through which the fluids are flowed now, since the High-Pressure Separator is under repair. Work on the High-Pressure Separator is in progress under the supervision of M/s. Expro, who is the supplier as well the O&M contractor. Once the High-Pressure Separator is online, the production from the wells will be ramped up to its intended capacity.
Further details will be provided during the customary Q3 Earnings call to be held during February 2023.
Block MB/OSDSF/B80/2016 Data:
Block MB/OSDSF/B80/2016 is spread over 56 Sq. Kms. area in Western Offshore and was awarded under the First Discovered Small Field (DSF) Bid Round 2016 on March 27, 2017. HOEC is the Operator of this field with 60% Participating Interest and 40 % is held by Adbhoot Estates Private Limited. Under the terms of the Revenue Sharing Contract (RSC), the oil and gas produced from this Block enjoys marketing and pricing freedom.
Shares of Hindustan Oil Exploration Company Limited was last trading in BSE at Rs. 140.65 as compared to the previous close of Rs. 140.70. The total number of shares traded during the day was 25652 in over 1152 trades.
The stock hit an intraday high of Rs. 142.45 and intraday low of 140.05. The net turnover during the day was Rs. 3619818.00.
