A combined oil and natural gas corporation (OngC), Hardy Exploration and Petrodyne inventing the PY-3 fields in India, OngC said on Sunday.
Originally carrying on-stream in 1997, the PY-3 plain was closed since July 2011.
Since then, a multi-phase revised plain development plan (FDP) has been implemented in releasing production.
The phase i in the revised FDP is over.
This includes the investigation of integrity, conditioning, and activation of the subsea that PD3SA is good; installation of subsea infrastructure; And hook-to-floating production, storage, and offload (FPSO) Vessel Venetia.
FPSO is used to process and separate oil, gas, and water. The manufactured oil is stored in the FPSO and is offloaded by shuttle tanks for transportation of refineries, additional ongC statement.
The “Phase II of the FDP will be involved in drilling additional wells and running techniques of oil (EOR) techniques to repair this field, which gives light, sweet oil,” in addition.
Hardy Exploration and Production (India) Inc., a Group Envenir Energy group, is the block operator with effective 21.79 percentage of interest. OngC holds a 50.63 percent of effective involvement of interest, and invented Petrodyne Ltd. holding the remaining 26.58 percent.
In a joint statement, Manish Maheshwari, Chairman, Invenire Energy, and Arulagshu Sarkar, Director (Strategy and Corporate Affairs), Ongc, Expressed Their Appreciation to the Ministry of Petroleum and Natural Gas (DGH) for their support, guidance, and unwavering Encouragement, which they said were instrumental in achieving this milestone.
Maheshwari added that it is an important step in progress in progress in the way of participating and underlined with the Indian security joint venture.
