Hardy Exploration and Production (India) Inc has stepped up output at its revived oil field off India's southern coast and is currently producing about 8,500 barrels a day. Hardy's chief executive, Sastry Karra said a second horizontal well drilled at the PY-3 field had begun flowing oil at over 4,000 bpd earlier this week. "We completed a second lateral well which began producing two days ago and we now plan to repair two other wells in the field over the next six weeks and once this is done, by about mid-December, we should be producing 10,000 barrels," Karra said. In August the declining PY-3 field was revived by drilling a horizontal well that helped boost output by 2,000 bpd.
Hardy is the field operator and holds an 18 percent stake, ONGC holds a 40 percent stake, Tata Petrodyne and Hindustan Oil Exploration each hold 21 percent. PY-3 is located just off the southern Indian town of Pondicherry, in the Cauvery basin of the Bay of Bengal. It yields a low-sulphur, light crude of 50 API gravity.