HOEC enters Phase-II exploration at CY-OSN-97/1

Vol 8, PW 18 (01 Dec 04) News in Brief
     

ujarat-based Hindustan Oil Exploration Company has decided to enter Phase-II of the exploration period at its offshore shallow water block CY-OSN-97/1 in the Cauvery basin.

PETROWATCH learns HOEC will drill one exploration well during the two-year Phase-II that ends in September 2006. During Phase-I HOEC shot 171-sq km 3D seismic over the K-II prospect area and 202-km 2D seismic over the K-V prospect of this 4940-sq km block.

This was the companys first offshore seismic survey project. We are told that the 3D survey, has added more scientific value with respect to the hydrocarbon prospect generation of the block, considering the geological complexities.

In the PSC, HOEC commits to reprocessing 500-km old 2D data and shooting 500-km fresh 2D during Phase-I. HOEC has committed to drill one exploration well if it enters Phase-III.