ONGC JV restarts production at Cauvery Basin

Oil and Natural Gas Corporation (ONGC) Ltd and its joint venture partners have restarted production from the PY-3 Field in the Cauvery Basin off the eastern coast, 14 years after the field was shut down, the company said in a statement without providing production details.

The PY-3 field was brought onstream in 1997 but had been shut since July 2011. A multi-phase revised field development plan was implemented to revive production. Phase I has been completed.

Hardy Exploration & Production (India) Inc. is the operator of the block with an effective 22.79% participating interest. ONGC holds a 50.63% participating interest, and Invenire Petrodyne Ltd. holds the remaining 26.58%. - Our Bureau