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From Block MB/OSDSF/B80/2016
Prior to commencement of sales, gas produced from well D-2 was processed to meet the specifications and packed into ONGC pipeline from 31 May 2022 onwards. Subsequently, Gas Transportation Agreement (GTA) between ONGC and HOEC was executed on 03 June 2022.
Currently, D-1 Oil well on production is being flowed at lower rates for safe stabilisation of all operational parameters. Produced oil is being transferred through pipeline to a HOEC group-owned Floating Storage Offloading vessel (FSO). FSO has the capacity to store over six months of production.
Processed gas is being exported through the ONGC pipeline network to its Hazira Gas Processing Terminal. ONGC then redelivers B-80 gas into the flagship HVJ pipeline owned by GAIL. GSPC then offtakes the B-80 gas to deliver it to the end consumers through its vast pipeline network. The company expects the entire production and sales operations to stabilise over the next few weeks.
Block MB/OSDSF/B80/2016 is spread over 56 Sq. Kms. area in Western Offshore and was awarded under the First Discovered Small Field (DSF) Bid Round 2016 on 27 March 2017. HOEC is the Operator of this field with 60% Participating Interest and 40 % is held by Adbhoot Estates. Under the terms of the Revenue Sharing Contract (RSC), the oil and gas produced from this Block enjoys marketing and pricing freedom.
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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
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