HOEC to begin oil from production from B-80 field in April

NEW DELHI: State-owned ONGC NSE 3.46 % thought the discovery is too small to make economic sense. But Hindustan Oil Exploration Company NSE 2.70 % (HOEC) in two years of taking over the B-18 block has not just discovered more resources but has invested enough to start oil and gas output from April next year. In an interview, HOEC Managing Director P Elango said the company will start producing 8,500 barrels per day of oil and oil equivalent gas from the B-80 block in April next year.

HOEC in September 2017 won the block in India’s first auction round of small discovered fields that the state-owned firms had not developed for a variety of reasons.