New Delhi: Crude oil production from the PY-3 offshore field in the Cauvery Basin has resumed after a 13-year shutdown, following the completion of Phase I of the revised Field Development Plan (FDP), a joint statement by Oil and Natural Gas Corporation (ONGC), Invenire Petrodyne Limited, and Hardy Exploration & Production (India) Inc. said.
The PY-3 Field, located off the east coast of India, was first brought on-stream in 1997 and had been shut since July 2011. The field is being developed under a Joint Venture (JV) comprising ONGC with a 50.63 per cent participating interest, Hardy Exploration with an effective 22.79 per cent, and Invenire Petrodyne holding 26.58 per cent.
Phase I of the FDP involved assessment and activation of the subsea well PD3SA, installation of subsea infrastructure, and integration with the Floating Production, Storage, and Offloading (FPSO) vessel Svetah Venetia. The FPSO is being used for processing and separating oil, gas, and water, while the produced oil is stored onboard and offloaded via shuttle tankers to refineries.
Phase II of the FDP will include drilling of new wells and use of enhanced oil recovery (EOR) techniques to augment output from the field, which produces light, sweet crude.
“The successful execution of the plan to resume production marks a significant milestone,” the JV said. In a joint statement, Manish Maheshwari, Chairman, Invenire Energy, and Arunangshu Sarkar, Director (Strategy & Corporate Affairs), ONGC, expressed gratitude to the Ministry of Petroleum and Natural Gas (MoPNG) and the Directorate General of Hydrocarbons (DGH) for their support.
Maheshwari stated, “This marks a significant step in Invenire’s operational journey and reaffirms the JV’s commitment to contributing to India’s energy security.”
Hardy Exploration & Production (India) Inc., a company of the Invenire Energy Group, is the operator of the PY-3 block.
