Hindustan Oil Exploration Company Ltd Share Price – NSE /  BSE

Crude Oil & Natural Gas, Small Cap

The block MB/OSDSF/B15/2024 spans over 332.4 square kilometers area in the Mumbai Offshore region at a water depth of about 40m, encapsulating two discoveries B-15A-1 and B-15-2, with potential for further exploration.

A total of 6 wells have been drilled in this contract area. Well B-15A-1 tested approximately 1.66 million standard cubic feet per day (mmscfd) of gas and 1833 barrels of oil per day (bopd) and Well B-15-2 tested around 1151 barrels of oil and 0.91 mmscfd of gas from the Panna formation.

?HOEC is the operator of this block with 100% participating interest,? the company stated.

This new addition of block MB/OSDSF/B15/2024 complements HOEC's existing block MB/OSDSF/B80/2016 in Mumbai Offshore, expanding the company's total acreage to over 800 square kilometres.

Ramasamy Jeevanandam, managing director of HOEC, said: ?As we strive to optimize operations in the Mumbai Offshore region, we also prioritize leveraging our offshore expertise to drive sustained growth.

Through the development of existing discoveries and the potential drilling of new wells, HOEC aims to unlock the full potential of this Block and create significant value for all the stakeholders.?

Hindustan Oil Exploration Company owns participatory interest in exploratory and production oil and gas assets across four basins in Assam (five projects), Mumbai Offshore (one project), Cambay Gujarat (three projects) and Cauvery Offshore (two projects).

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Hindustan Oil Exploration Company (HOEC) announced the recent award of a contract area MB/OSDSF/B15/2024 under the Special Discovered Small Fields Bid Round 2024 on 15 April 2025.

Block MB/OSDSF/B15/2024 spans over 332.4 Sq. Kms. area in the Mumbai Offshore region at a water depth of about 40m, encapsulating two discoveries B-15A-1 and B-15-2, with potential for further exploration. A total of 6 wells have been drilled in this contract area. Well B-15A-1 tested approximately 1.66 million standard cubic feet per day (mmscfd) of gas and 1833 barrels of oil per day (bopd) and Well B-15-2 tested around 1151 barrels of oil and 0.91 mmscfd of gas from the Panna formation. HOEC is the Operator of this Block with 100% Participating Interest.

This new addition of Block MB/OSDSF/B15/2024 complements HOEC's existing Block MB/OSDSF/B80/2016 in Mumbai Offshore, expanding the Company's total acreage to over 800 sq. kms.

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Net profit of Hindustan Oil Exploration Company declined 6.98% to Rs 43.32 crore in the quarter ended December 2024 as against Rs 46.57 crore during the previous quarter ended December 2023. Sales declined 18.18% to Rs 146.52 crore in the quarter ended December 2024 as against Rs 179.08 crore during the previous quarter ended December 2023.

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Hindustan Oil Exploration Company will hold a meeting of the Board of Directors of the Company on 4 February 2025.

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