PY-3 is a producing conventional oil field located in deepwater in India and is operated by Hardy Oil and Gas. The field is located in block CY-OS-90/1 (PY-3), with water depth of 1,476 feet.
Production from PY-3
The PY-3 conventional oil field recovered 48.59% of its total recoverable reserves, with peak production expected in 2022. The peak production was approximately 11 thousand bpd of crude oil and condensate and 2 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2040.
Remaining recoverable reserves
The field is expected to recover 30.08 Mmboe, comprised of 29.24 Mmbbl of crude oil & condensate and 5.03 bcf of natural gas reserves. PY-3 conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.
About Hardy Oil and Gas
Hardy Oil and Gas plc (Hardy) is an upstream energy company.
Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.