Production from the PY3 block has increased substantially. The PY-3 (Cauvery Offshore) Consortium has drilled and activated well PD-3-S replacement well for PD-3-RL. Initial oil rate has been observed to be around 3,000 barrels of oil per day. The company holds 21 per cent non-operating participating interest in the block.
Two blocks (Asjol, PY-3) under production, two blocks (PY-1& North Balol) have proven reserves, while two blocks (CB-ON-7 & CB-OS-1) have reported potential commercial discovery.
HOEC is reportedly in talks with BG Group for acquiring their 62.64 per cent stake in block CB-OS/1 located offshore Gujarat. At present, partners in the Block are BG Group as operator (62.64 per cent); Tata Petrodyne (10 per cent); ONCG (10 per cent) and HOEC (17.36 per cent).
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