India’s HOEC hands in development plan for B-80 field
India’s Hindustan Oil Exploration Company (HOEC) has submitted its field development plan (FDP) for offshore block B-80 to the country’s Directorate General of Hydrocarbon (DGH).
B-80 is located in Mumbai Offshore and was awarded under Discovered Small Field (DSF) Bid Round 2016 on March 27, 2017. HOEC is the operator of the field with 50% participating interest and Adbhoot Estates Private Limited is its partner, holding the other 50% interest.
The field development plan envisages production of 5000 barrels of oil and 15 million standard cubic feet of gas per day, HOEC said on Saturday. First oil and gas from the field is expected to be delivered by the second quarter of FY 2020-21.
Development of this discovered field will be executed in two phases. Under phase – 1, two new offshore wells will be drilled, a mobile offshore process unit (MOPU) will be installed and the processed oil and gas will be transported by connecting to nearby oil and gas pipelines of ONGC for delivery to customers at an estimated capital investment of about $43 million over a period of 30 months.
P. Elango, Managing Director said, “For HOEC, this foray into iconic Mumbai offshore area in west coast will open up an exciting new phase and will build on its experience to enhance our core competence as a low cost and fast track developer of oil and gas fields.”