HOEC has awarded two contract areas to the company in consortia with Oil India Limited, Prize Petroleum Limited and other private company by the Government of India in the recently concluded bidding for Discovered Small Field Bids Round (DSF 2016).
One of the contract area is offshore field B-80, located in the Mumbai Offshore about 56 square kilometer discovered by ONGC in 1997. This discovered field produced about 3,737 barrels of oil and 7.5 MMCF of gas per day during the testing with in place reserves of about 13.20M barrels of oil and gas in place of 10.50 BCFE
The other contract area is onshore field Kherem located in Arunachal Pradesh, discovered by Oil India Limited in 1994 with the area of 16.45 square kilo meters, with initial oil in place of about 3 MMbbl and gas in place of about 17 BCFE.
HOEC has 50% participating interest in the offshore field B-80 and 40% in the onshore field Kherem. HOEC is the Operator for both the fields.