HOEC Successfully Drills and Commences Testing of Well KSG-71 in Kharsang Block After 12-Year Gap

Hindustan Oil Exploration Company Ltd (HOEC) has successfully drilled and completed Well KSG-71 in the Kharsang Block, with an initial oil production rate of about 250 barrels per day. The second well, KSG-72, has also been spud. This marks a significant milestone as drilling in this Block has been started after a 12-year gap. The Well KSG-71 will be hooked up for production immediately after the completion of well testing. The Kharsang Block, operated by Geoenpro Petroleum Limited (a wholly owned step-down subsidiary of HOEC) with a Participating Interest (PI) of 10%, covers an area of about 10 square kilometers in the Assam Arakan Basin. HOEC holds a 25% PI in the Block, resulting in a combined PI of 35% in the Block.