New Delhi [India], May 25 (ANI): A three way partnership of Oil and Natural Gas Corporation Limited (ONGC), Hardy Exploration and Production (India) Inc., and Invenire Petrodyne has efficiently commenced manufacturing from the PY-3 Field, positioned offshore within the Cauvery Basin on the east coast of India, ONGC mentioned in a press release Sunday.
Originally introduced on-stream in 1997, the PY-3 Field had been shut since July 2011.
Since then, a multi-phase revised Field Development Plan (FDP) has been applied to revive manufacturing.
Phase I of the revised FDP has now been accomplished.
This included integrity evaluation, conditioning, and activation of the subsea nicely PD3SA; set up of subsea infrastructure; and hook-up to the Floating Production, Storage, and Offloading (FPSO) vessel Svetah Venetia.
The FPSO is getting used to course of and separate oil, fuel, and water. The produced oil is saved on the FPSO and offloaded to shuttle tankers for transport to refineries, the ONGC assertion added.
“Phase II of the FDP will contain the drilling of extra wells and the applying of enhanced oil restoration (EOR) methods to spice up output from this prolific discipline, which yields mild, candy crude oil,” it added.
Hardy Exploration and Production (India) Inc., an organization of the Invenire Energy Group, is the operator of the block with an efficient 22.79 per cent collaborating curiosity. ONGC holds a 50.63 per cent efficient collaborating curiosity, and Invenire Petrodyne Ltd. holds the remaining 26.58 per cent.
In a joint assertion, Manish Maheshwari, Chairman, Invenire Energy, and Arunangshu Sarkar, Director (Strategy and Corporate Affairs), ONGC, expressed their appreciation to the Ministry of Petroleum and Natural Gas (MoPNG) and the Directorate General of Hydrocarbons (DGH) for his or her assist, steerage, and unwavering encouragement, which they mentioned had been instrumental in attaining this milestone.
Maheshwari added that this marks a major step in Invenire’s operational journey and reaffirms the three way partnership’s dedication to contributing to India’s power safety. (ANI)
(The story has come from a syndicated feed and has not been edited by OXBIG NEWS NETWORK Staff.)
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