HOEC Hits Pay in Cambay Basin
Hindustan Oil Exploration Co. Limited (HOEC) has completed drilling and testing of well SPD-1, located south of its Pramoda Oil field in Block CB-ON-7, onshore India's Cambay Basin.
HOEC said that SPD-1 has encountered hydrocarbon-bearing sands. Testing of Hazad Formation sand resulted in flow of crude oil at an initial rate of 50m3/day (315 barrels per day), along with associated natural gas through 5 mm bean.
HOEC is the Operator of the Block CB-ON-7 and holds 50% participating interest during the exploration phase. Gujarat State Petroleum Corporation Limited and Oil and Natural Gas Corporation Limited (Licensee) are the consortium partners in the said block.
Operates 43 Offshore Rigs
Manages 8 Offshore Rigs
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