Has the ONGC-led JV Reopened Production in the Cauvery Basin?
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Synopsis
Discover how the ONGC-led joint venture has reignited production at the PY-3 Field in the Cauvery Basin, marking a significant milestone in India's energy landscape. This revival not only enhances energy security but also showcases collaborative efforts in the oil sector.
Key Takeaways
- ONGC-led JV has resumed production from the PY-3 Field.
- The field was inactive since 2011 and has undergone a multi-phase development plan.
- Phase I involved crucial assessments and installations for production.
- Phase II will focus on drilling additional wells and enhancing oil recovery.
- The initiative underscores India's commitment to energy security.
New Delhi, May 25 (NationPress) A collaborative venture involving the Oil and Natural Gas Corporation Limited (ONGC) has triumphantly restarted production at the PY-3 Field, situated offshore in the Cauvery Basin along the eastern coast of India.
This oilfield, which was initially activated in 1997, had been inactive since July 2011. To rejuvenate production, a multi-phase revised Field Development Plan was executed by ONGC and its partners Hardy Exploration & Production (India) and Invenire Petrodyne Limited, as per an ONGC announcement made on Sunday.
The completion of Phase I of the revised development plan has been achieved, which encompassed integrity evaluations, conditioning, and activation of the subsea well PD3SA; installation of subsea infrastructure; and the connection to the Floating Production, Storage, and Offloading (FPSO) vessel, Svetah Venetia. This FPSO is utilized for processing and separating oil, gas, and water, with produced oil being stored onboard and then transferred to shuttle tankers for delivery to refineries, according to the statement.
Looking ahead, Phase II of the Field Development Plan will include drilling additional wells and implementing enhanced oil recovery techniques aimed at increasing output from this rich field known for its light, sweet crude oil.
Hardy Exploration & Production (India) Inc, part of the Invenire Energy Group, acts as the operator of the block, holding a 22.79% participating interest. ONGC maintains a 50.63% effective participating interest, while Invenire Petrodyne Ltd. retains the remaining 26.58% stake.
In a joint statement, Manish Maheshwari, Chairman of Invenire Energy, and Arunangshu Sarkar, Director (Strategy & Corporate Affairs) of ONGC, acknowledged that the consistent support and encouragement from the Ministry of Petroleum and Natural Gas and the Directorate General of Hydrocarbons (DGH) were crucial in reaching this milestone.
This represents a pivotal advancement in Invenire’s operational journey, reinforcing the joint venture’s dedication to boosting India's energy security, Maheshwari noted.
Point of View
It is evident that collaborative efforts in the energy sector are crucial for India's growth. The support from government bodies has been vital, reinforcing the importance of public-private partnerships in achieving energy security.
NationPress
17/06/2025
Frequently Asked Questions
What is the PY-3 Field?
The PY-3 Field is an offshore oilfield located in the Cauvery Basin, which has been operational since 1997 and recently resumed production after being inactive since 2011.
Who are the partners in the joint venture?
The joint venture comprises the Oil and Natural Gas Corporation Limited (ONGC), Hardy Exploration & Production (India), and Invenire Petrodyne Limited.
What is the significance of the Field Development Plan?
The Field Development Plan is essential for revitalizing production and ensuring efficient operations within the PY-3 Field, aiming for enhanced output and energy security.
What types of oil does the PY-3 Field produce?
The PY-3 Field primarily produces light, sweet crude oil, which is highly sought after in the oil market.
How does this production resumption affect India's energy sector?
The resumption of production significantly contributes to India's energy security, showcasing the ability of joint ventures to revitalize and optimize oil production.
