Hindustan Oil Exploration Company Ltd

Summary

Hindustan Oil Exploration Company Ltd is an Indian based company engaged in the exploration and production of hydrocarbons crude oil and natural gas, which are natural resources. The company provides geological and geophysical services relating to the exploration of oil and natural gas and other oil field services. The company has a 100% subsidiary namely HOEC Bardahl India Ltd which is engaged in marketing of fuel or engine additives.The company has participating interest in seven oil/gas fields in India (in Cambay basin, Cauvery basin and Assam Arakan basin), which are in varying stages of exploration, development and production: AAP-ON-94/1 in Assam; CY-OS/90-1 (PY-3) and PY-1 in Cauvery, and Asjol, CB-OS-1, CB-ON-7 and North Balol in Cambay. Production of crude oil from PY-3 Field located in Cauvery Basin is the principal source of the companys production.Hindustan Oil Exploration Company Ltd was incorporated on September 22, 1983. The company commenced their operational activities in the year 1991 with the Government of India announcing the fourth round of exploration bidding for private sector participation.In the year 1991-92, the company signed a MoU with Petronas Carigali, Malaysia, to conduct joint studies on basins/blocks of mutual interest. In February 1993, the company, along with Albion (India), US, signed a production sharing contract with the Ministry of Petroleum and ONGC, as an operator for a block offshore the coast of Andhra Pradesh with a 35% share in... Read More