The PY-3 offshore field in the Cauvery Basin has recommenced crude oil production after a 13-year hiatus.
This development follows the successful completion of phase I of the revised field development plan (FDP), as announced by the joint venture partners Oil and Natural Gas Corporation (ONGC), Invenire Petrodyne, and Hardy Exploration & Production (India).
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The PY-3 field, which lies off the east coast of India, was initially brought into production in 1997 but has been non-operational since July 2011.
The joint venture is composed of ONGC with a 50.63% participating interest, Hardy Exploration with an effective 22.79%, and Invenire Petrodyne holding 26.58%.
Phase I of the FDP included the assessment and reactivation of the subsea well PD3SA, the installation of subsea infrastructure, and the integration with the floating production, storage, and offloading (FPSO) vessel named Svetah Venetia.
The FPSO is utilised for processing and separating oil, gas, and water.
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By GlobalDataThe produced oil is stored onboard and then offloaded to refineries via shuttle tankers.
Phase II of the FDP will involve drilling new wells and employing enhanced oil recovery (EOR) techniques to increase the field’s output, which is known for producing light, sweet crude.
The JV partners were quoted by The Economic Times as saying: “The successful execution of the plan to resume production marks a significant milestone.”
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), part of the Invenire Energy Group, serves as the operator of the PY-3 block.
Also, ONGC has entered into a strategic partnership with global energy giant bp to bolster production at the Mumbai High oilfield.
