Latest news with #HindustanOilExplorationCompany
Business Recorder
a day ago
- Business
- Business Recorder
Hindustan Oil Exploration Company halts output in west Indian basin
Hindustan Oil Exploration Company said on Friday it has temporarily suspended production at one of its oilfields in western India due to adverse weather and is monitoring the situation to resume output when the weather improves. The floating storage offshore (FSO) unit at the company's Mumbai basin has been safely de-moored and anchored at a secure location for over a week, it said. Oil set for steepest weekly decline in two years as risk subsides 'We are prepared for re-mooring the FSO… as soon as the weather improves, allowing us to resume production from the field under favorable conditions,' the oil exploring company said.
Business Standard
29-05-2025
- Business
- Business Standard
Hindustan Oil Exploration Company consolidated net profit declines 27.55% in the March 2025 quarter
Sales decline 85.02% to Rs 43.39 crore Net profit of Hindustan Oil Exploration Company declined 27.55% to Rs 51.16 crore in the quarter ended March 2025 as against Rs 70.61 crore during the previous quarter ended March 2024. Sales declined 85.02% to Rs 43.39 crore in the quarter ended March 2025 as against Rs 289.61 crore during the previous quarter ended March 2024. For the full year,net profit declined 34.99% to Rs 147.21 crore in the year ended March 2025 as against Rs 226.43 crore during the previous year ended March 2024. Sales declined 43.82% to Rs 420.87 crore in the year ended March 2025 as against Rs 749.13 crore during the previous year ended March 2024. Particulars Quarter Ended Year Ended Mar. 2025 Mar. 2024 % Var. Mar. 2025 Mar. 2024 % Var. Sales 43.39289.61 -85 420.87749.13 -44 OPM % 11.0225.78 - 41.0841.10 - PBDT 57.2972.60 -21 227.57295.44 -23 PBT 35.5852.33 -32 149.95215.42 -30 NP 51.1670.61 -28 147.21226.43 -35
Business Standard
15-05-2025
- Business
- Business Standard
Hindustan Oil rises after Kharsang Block development update
Hindustan Oil Exploration Company gained 1.02% to Rs 188.15 after the company informed about the successful drilling and completion of Well KSG-71 in the Kharsang Block. The company had initially planned to drill nine development wells in this Block. The Well KSG-71 is under testing with various chokes from 6mm to 8 mm and the initial rate of oil production is about 250 barrels per day. In further progress, the second well, KSG-72, has also been spud in the block, marking a significant resumption of drilling activities in this area after a 12-year interval. The Well KSG-71 will be hooked up for production immediately with optimum choke after the completion of well testing. The Kharsang Block encompasses an area of about 10 square kilometers in the Assam Arakan Basin. Geoenpro Petroleum, a wholly owned step-down subsidiary of HOEC, is the operator of the Block with 10% participating interest (PI). HOEC holds 25% PI in the Block, resulting in a combined PI of 35% in the Block. Hindustan Oil Exploration Company owns participatory interest in exploratory and production oil and gas assets across four basins in Assam (five projects), Mumbai Offshore (one project), Cambay Gujarat (three projects) and Cauvery Offshore (two projects).
Fibre2Fashion
15-05-2025
- Business
- Fibre2Fashion
HOEC resumes oil drilling at Kharsang Block after 12 years
Hindustan Oil Exploration Company (HOEC) has announced a significant development at the Kharsang Block in the Assam Arakan Basin, marking the resumption of drilling operations after a 12-year break. HOEC has resumed drilling at the Kharsang Block in the Assam Arakan Basin after 12 years, completing Well KSG-71, the first of nine planned wells. Early testing shows production of around 250 barrels per day. Drilling of the second well, KSG-72, has started. HOEC holds a 35 per cent interest in the block, operated by its subsidiary Geoenpro Petroleum. The company successfully completed the drilling of Well KSG-71, the first of nine development wells planned in the current phase. Early production testing of KSG-71 is underway, with oil production rates of around 250 barrels per day using chokes ranging from 6 mm to 8 mm. The well will be tied into production after testing is completed, and the optimal choke size is determined. Drilling operations for the second well, KSG-72, have also commenced, further advancing the block's development plan. The Kharsang Block, covering approximately 10 square kilometres, is operated by Geoenpro Petroleum Limited, a wholly owned step-down subsidiary of HOEC, which holds a 10 per cent Participating Interest (PI). HOEC also directly holds a 25 per cent PI, bringing its total interest in the block to 35 per cent. This development marks a key step in enhancing domestic oil production from the region. Fibre2Fashion News Desk (VK)
Business Standard
15-05-2025
- Business
- Business Standard
Hindustan Oil Exploration Company commences drilling of Well KSG-71 in Kharsang Block
Hindustan Oil Exploration Company (HOEC) announced the successful drilling and completion of Well KSG-71 in the Kharsang Block, where the initial plan is to drill nine development wells. This well is under testing with various chokes from 6mm to 8 mm and the initial rate of oil production is about 250 barrels per day. The second well, KSG-72, has also been spud in the Block. This marks a significant milestone, as drilling in this Block has been started after a 12-year gap. The Well KSG-71 will be hooked up for production immediately with optimum choke after the completion of well testing. The Kharsang Block encompasses an area of about 10 square kilometers in the Assam Arakan Basin. Geoenpro Petroleum, a wholly owned step-down subsidiary of HOEC, is the Operator of the Block with 10% Participating Interest (PI). HOEC holds 25% PI in the Block, resulting in a combined PI of 35% in the Block.
