ONGC-led JV resumes production from PY-3 Field in Cauvery Basin
The PY-3 Field, originally brought into production in 1997, had been non-operational since July 2011. Production has resumed following the completion of Phase I of a revised Field Development Plan (FDP), which aims to restore and enhance output from the field.
Key activities completed in Phase I include the integrity assessment and activation of subsea well PD3SA, installation of subsea infrastructure, and hook-up to the Floating Production, Storage, and Offloading (FPSO) vessel Svetah Venetia . The FPSO is used to process and separate oil, gas, and water. Crude oil produced from the field is stored on the FPSO and offloaded to shuttle tankers for delivery to refineries.
Phase II of the FDP will include drilling of new wells and the deployment of enhanced oil recovery (EOR) techniques to increase production. The PY-3 Field produces light, sweet crude oil.
Ownership in the joint venture is structured with ONGC holding a 50.63% effective participating interest, Hardy Exploration & Production (India) Inc. holding 22.79%, and Invenire Petrodyne Limited holding the remaining 26.58%. Hardy, a company of the Invenire Energy Group, serves as the operator of the block.
In a joint statement, representatives from ONGC and Invenire acknowledged the support from the Ministry of Petroleum and Natural Gas (MoPNG) and the Directorate General of Hydrocarbons (DGH) in facilitating the project's progress.
Aman Shukla is a post-graduate in mass communication . A media enthusiast who has a strong hold on communication ,content writing and copy writing. Aman is currently working as journalist at BusinessUpturn.com
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