The allotted block — MB / OSDSF / B15 / 2024 — spans over 332.4 square km in the Mumbai offshore region at a water depth of around 40 metre, encapsulating two discoveries B-15A and B-15-2, with potential for further exploration, the company said in an exchange filing.
A total of six wells have been drilled in the contract area.
The Well B-15A-1 tested approximately 1.66 million standard cubic feet per day (mmsfc) of gas and 1,833 barrels of oil per day (bopd) and Wll B-15-2 tested around 1,151 barrels of oil and 0.91 mmscfd of gas from the Panna formation, the company said.
It added that it is the operator of the block with 100% participating interest.
The new addition of the block complements Hindustan Oil Exploration Company’s existing block MB/OSDSF/B80/2016 in Mumbai offshore, expanding the company’s total acreage to over 800 square km, it said.
“As we strive to optimise operations in the Mumbai offshore region, we also prioritise leveraging our offshore expertise to drive sustained growth,” the company’s managing director Ramasamy Jeevanandam said.
Shares of Hindustan Oil Exploration Company gained 4.5% to hit an intraday high of ₹178.66 apiece on Monday. The stock was up 2.5% at ₹175.11 apiece at 10.15 am. It has gained 20.3% in the last six months.
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First Published: Apr 16, 2025 10:23 AM IST
