27-05-2025
ONGC, Invenire JV revives PY-3 field in India with new plan
A Joint Venture of Oil and Natural Gas Corporation Limited (ONGC), Hardy Exploration & Production (India) Inc., and Invenire Petrodyne Limited has successfully commenced production from the PY-3 Field, located offshore in the Cauvery Basin on the east coast of India, as of 23 May 2025.
Originally brought onstream in 1997, the PY-3 Field had been shut since July 2011. Since then, a multi-phase revised Field Development Plan (FDP) has been implemented to revive production.
The PY-3 Field offshore Cauvery Basin resumed production on May 23, 2025 after being shut since 2011. Phase I of the Field Development Plan (FDP) involved well activation and subsea infrastructure installation. Phase II will focus on drilling and enhanced oil recovery. ONGC holds 50.63 per cent, Hardy Exploration 22.79 per cent, and Invenire 26.58 per cent.
Phase I of the revised FDP has now been completed. This included integrity assessment, conditioning, and activation of the subsea well PD3SA; installation of subsea infrastructure; and hook-up to the Floating Production, Storage, and Offloading (FPSO) vessel Svetah Venetia. The FPSO is being used to process and separate oil, gas, and water. The produced oil is stored on the FPSO and offloaded to shuttle tankers for transport to refineries.
Phase II of the FDP will involve the drilling of additional wells and the application of enhanced oil recovery (EOR) techniques to boost output from this prolific field, which yields light, sweet crude oil.
Hardy Exploration & Production (India) Inc., a company of the Invenire Energy Group, is the operator of the block with an effective 22.79 per cent participating interest. ONGC holds a 50.63 per cent effective participating interest, and Invenire Petrodyne Ltd. holds the remaining 26.58 per cent.
In a joint statement, Mr. Manish Maheshwari, Chairman, Invenire Energy, and Mr. Arunangshu Sarkar, Director (Strategy & Corporate Affairs), ONGC, expressed their appreciation to the Ministry of Petroleum and Natural Gas (MoPNG) and the Directorate General of Hydrocarbons (DGH) for their support, guidance, and unwavering encouragement, which were instrumental in achieving this milestone. Mr. Maheshwari added that this marks a significant step in Invenire's operational journey and reaffirms the JV's commitment to contributing to India's energy security. Note: The headline, insights, and image of this press release may have been refined by the Fibre2Fashion staff; the rest of the content remains unchanged.
Fibre2Fashion News Desk (MS)
