New Delhi: An Ongc-Led Joint Venture has resumed oil production from the ‘py-3 field’, located offshore in the cauvery basin on India’s east coast.
The joint venture of oil and natural gas corp. LTD (ONGC) with Hardy Exploration & Production (India) Inc., and Invenre Petrodyne Ltd, has implemented a Multi-Phase Revised Field Development Plan (FDP) to review Production in the py-3rd.
Also read | BP Eyes Major Expaniation in India’s Oil and Gas Sector
Originally brieft on-Stream in 1997, The Py-3 Field has been shut since July 2011.
“Phase I of the revised fdp has been complete. Production, storage and offloading (FPSO) vessel svetah venetia, “it said.
The fipso is being used to process and separete oil, gas and water. The produced oil is stored on the fipso and offloaded to shuttle tankers for transport to refiners.
The statement said that Phase II of the FDP will involve drilling additional wells and applying enhanced oil recovery (eor) techniques to boost output from this problem faild Crude oil.
Hardy Exploration & Production, A Company of the Invenre Energy Group, is the operator of the block with an effective 22.79% Participating Interest. ONGC Holds A 50.63% Effective Participating Interest, and Invenre petrodyne has the remain 26.58%.
ONGC on Wednsday Reported A 20% Year-On-Year Fall in Its Consolidated Net Profit to 8,856 Crore. Its gross revealed for the last Quarter was 1.7 trillion, 0.8% lower than 1.72 trillion recorded in the year -go period.
In FY25, ONGC’s Standalone Crude Oil Production was 18.558 Million Tonnes, with an increase of 0.9% over fY24. The Standalone Natural Gas Production was 19.654 billion cubic metres (BCM) in FY25 as against 19.978 BCM in FY24.
In FY25, ONGC Declared a Total of Nine Discoveries (Five Onland and Four offshore) DURING FY 2024-25 in Its Operated Acreages. Out of these, Seven are prospects (four onland and three offshore) and two (one economy and offshore) are new pool discoveries. About Eight Hydrocarbon discoveries were monetized in fy25.