Hindustan Oil Exploration Company updated on status of installation of facilities completed in B-80 field and installation works delayed due to cyclone and the onset of monsoon:
1. Offshore Installation, a jack up rig (Key Gibraltar) converted as an offshore processing unit has been successfully installed in the field and is ready to receive the oil and gas for processing from the subsea wells.
2. Flow lines have been laid and connected to the wells and the offshore processing unit. Similarly, the control umbilical to the trees of subsea wells and the processing unit are duly laid, connected and tested.
3. Gas export pipeline from offshore processing unit to the existing gas pipeline of ONGC to Hazira Terminal has been laid and hot tapped with ONGC line, which completes the requirements of gas evacuation.
Hindustan Oil Exploration Company Limited updates on Block B-80 equitybulls.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from equitybulls.com Daily Mail and Mail on Sunday newspapers.
Hindustan Oil Exploration Company (HOEC) has reported a steep fall in consolidated net profit to Rs 8.40 crore for the third quarter of financial year 2020-2021. The company had reported a Rs 53.61 crore consolidated net profit in the same months of financial year 2019-2020. Consolidated total income reported a near 45 per cent decline to Rs 30.51 crore in the quarter under review, from Rs 55.16 crore in the comparable months of the previous financial year. In a statement to the exchanges, HOEC said that it had got an extension to continue production up to April 4, 2021 by the Government of India (GOI) in the PY1 block. The addendum to the Production Sharing Contract (PSC) for a 10-year extension is currently being processed for execution by the centre.
Hindustan Oil Exploration s appeal against resolution plan continues to get rejected by NCLT
IANS
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Hindustan Oil Exploration Company (HOEC)s attempt to contest implementation of the Resolution Plan completed in September was struck down for the third time by NCLTs Allahabad Bench on December 21.
This a series of repeated appeals made by HOEC since 2018 which have been repeatedly dismissed by the NCLAT.
HOEC continued to repeatedly approach the judiciary system to obtain a favourable result that would move JEKPL closer towards liquidation. This would then allow HOEC to gain control of its participating interest in Kharsang Field at no cost through one of its offshore subsidiaries.
After NCLAT, NCLT now also dismisses appeal of Hindustan Oil Exploration Company
By IANS |
Published on
Tue, Dec 29 2020 15:21 IST |
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Petrol. (File Photo: IANS). Image Source: IANS News
New Delhi, Dec 29 : Hindustan Oil Exploration Company (HOEC)s attempt to contest implementation of the Resolution Plan completed in September was struck down for the third time by NCLTs Allahabad Bench on December 21.
This a series of repeated appeals made by HOEC since 2018 which have been repeatedly dismissed by the NCLAT.
HOEC continued to repeatedly approach the judiciary system to obtain a favourable result that would move JEKPL closer towards liquidation. This would then allow HOEC to gain control of its participating interest in Kharsang Field at no cost through one of its offshore subsidiaries.