Hindustan Oil Exploration Company Limited — Important, 16-04-2025: Updates

HOEC has achieved a significant milestone by securing a contract area MB/OSDSF/B15/2024 under the Special Discovered Small Fields Bid Round 2024, covering 332.4 sq. km in the Mumbai Offshore area. This block includes two promising discoveries, B-15A-1, which tested approximately 1.66 mmscfd of gas and 1833 bopd of oil, and B-15-2, yielding about 1151 bopd and 0.91 mmscfd of gas. As the operator with a 100% participating interest, HOEC expands its total acreage to over 800 sq. km, enhancing its position as a notable independent oil company. The Managing Director emphasized the commitment to optimizing operations and exploring new wells in this region, which could unlock substantial value for stakeholders. This development presents a positive outlook for HOEC, as the strong performance metrics from the explorations suggest potential for future growth.