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HOEC prepare field development plan for Dirok discovery

10th September 2013

Indian company following up from government approval to explore block

The Dirok discovery has a gas initially in place of 254 billion cubic feet.

Indian company Hindustan Oil Exploration Company (HOEC) are working on a field development plan for a discovery in north-eastern India.

 

The Dirok discovery, located in the Assam-Arakan basin in north-eastern India has a gas initially in place of 254 billion cubic feet.

 

In a letter to the National Stock Exchange of India, the company said it is preparing a plan ‘’with the objective to bring the first has to the market’’, only needing ‘’regulatory approvals’’ to move ahead.

 

HOEC, operators of the block, received approval from the ministry of petroleum and Natural Gas and the directorate general of hydrocarbons to explore the discovery.

 

The basin itself covers 116,000 sq km and has been a prime oil and gas location in India since the discovery of the Digboi oilfield more than a century ago.

 

Since then, more than 100 oil and gas fields have been discovered with Dirok being the latest. Dirok was declared viable in August.

 

The company has a 26.88 per cent participating interest in the development and production of the discovery.  It shares a consortium with Oil India Limited and Oil Corporation Limited.