Hindustan Oil Exploration Spuds Subhan-1 Offshore India
Hindustan Oil Exploration has spud the second exploration well, Subhan-1, in Block CY-OSN-97/1 offshore India.
The block is located in southern part of Cauvery basin and extends over an area of 3,705 square kilometers. Recently, the company secured Government approval for the assignment of Mosbacher India LLC's 50% participating interest in block CY-OSN-97/1 to HOEC and the transfer of Operatorship, to make HOEC holder of 80% working interest along with Operatorship.
As Operator, HOEC successfully acquired and processed new 3D and 2D Seismic data in the block, interpretation of which has led to the identification of number of prospects and leads.
The first exploration well drilled during the summer of 2006, Vinayaka-1, did not encounter hydrocarbons and was plugged and abandoned.
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