2025-04-16 19:00:33
Latest Post
Swaraj Engines Limited recommends dividend of Rs. 104.50
Capital India Finance Limited announces Listing on National Stock Exchange
Roto Pumps Ltd. unveil next level manufacturing infrastructure and 'P' Range compact pumps
Markets rebound despite tariff overhang - Vinay Paharia, CIO, PGIM India Mutual Fund
Mastercard collaborates with City Union Bank to unveil its first passion cards for cricket lovers in India
Stock Report
Hindustan Oil Exploration Company Ltd awarded contract area in Mumbai Offshore region
Posted On : 2025-04-16 13:35:35( TIMEZONE : IST )
Hindustan Oil Exploration Company Ltd (HOEC) is pleased to announce the recent award of a contract area MB/OSDSF/B15/2024 under the Special Discovered Small Fields Bid Round 2024 on April 15, 2025.
Block MB/OSDSF/B15/2024 spans over 332.4 Sq. Kms. area in the Mumbai Offshore region at a water depth of about 40m, encapsulating two discoveries B-15A-1 and B-15-2, with potential for further exploration. A total of 6 wells have been drilled in this contract area. Well B-15A-1 tested approximately 1.66 million standard cubic feet per day (mmscfd) of gas and 1833 barrels of oil per day (bopd) and Well B-15-2 tested around 1151 barrels of oil and 0.91 mmscfd of gas from the Panna formation. HOEC is the Operator of this Block with 100% Participating Interest.
This new addition of Block MB/OSDSF/B15/2024 complements HOEC's existing Block MB/OSDSF/B80/2016 in Mumbai Offshore, expanding the Company's total acreage to over 800 sq. kms. This growth in reserves and resources strengthens HOEC's position as a meaningful independent oil company in the industry.
The Managing Director of HOEC, Mr. Ramasamy Jeevanandam, affirmed the Company's commitment to enhancing its asset base and seizing growth opportunities. As we strive to optimize operations in the Mumbai Offshore region, we also prioritize leveraging our offshore expertise to drive sustained growth. Through the development of existing discoveries and the potential drilling of new wells, HOEC aims to unlock the full potential of this Block and create significant value for all the stakeholders.
Shares of Hindustan Oil Exploration Company Limited was last trading in BSE at Rs. 170.70 as compared to the previous close of Rs. 163.60. The total number of shares traded during the day was 49109 in over 780 trades.
The stock hit an intraday high of Rs. 171.45 and intraday low of 163.70. The net turnover during the day was Rs. 8286777.00.
