Hardy hoping to reactivate offshore India field

Offshore staff

LONDON – Hardy Oil & Gas has issued an update on the PY-3 field in block CY-OS 90/1 offshore India, which the company operates with an 18% interest.

The field has been shut-in since July 2011. The partners and various other parties have been working on a solution for the continued development with a view to re-starting production as soon as possible.

PY-3’s production-sharing contract is due to expire in December 2019 but is eligible for an extension of up to 10 years.

Late last year the company submitted an extension application that included a revised full field development plan that has been approved by the partners.

This envisions:

• Contracting an FPSO or equivalent
• Recommencing production from an existing well prior to December 2019
• Drilling one development well during the first half of 2020
• A tie-in to the PY-1 infrastructure to export produced gas.

The PY-3 Operating Committee has agreed that drilling in the prospective northeast area of the field will be reviewed further once production has resumed.

India’s Director General of Hydrocarbons is reviewing the proposals.

06/12/2018