HOEC gears up for $54m Dirok development plan
When he took over in February HOEC managing director P.
Elango stressed that development of Assam-Arakan block AAP-ON-94/1 was his top priority. Elango is keeping his word.
PETROWATCH learns HOEC is targeting to begin producing 600,000 cm/d (21m cf/d) gas and 500 b/d condensate by December 2016. A first step towards this goal came on May 18 when HOEC announced to the BSE oil ministry approval for a $54m Field Development Plan (FDP) sent to the DGH in August 2014.
HOEC shares shot up 11% on the announcement. Next is a public hearing at Digboi in Assam planned for July.
“We want to drill two new development wells," confirms HOEC, "taking the number of wells to five." Three significant discoveries have been made at this block: Dirok-1, Dirok-2 and Dirok-4.
HOEC hopes to secure environmental clearances by November-December this year, paving the way for first drilling by early 2016. Each new well will be drilled to 3000 metres TD.
On May 8, HOEC released a tender for facilities design and engineering. Foster Wheeler already holds the 'concept study' contract.
On March 25, HOEC invited EoIs to construct gasfield development surface facilities including a gas processing plant handling up to 35m cf/d (991,089 cm/d) of gas and 800 b/d of oil condensate; a Gas Collection Station (GCS); and inter-connecting pipelines from the GCS and gas processing plant to the wells.